Apollo Crypto will manage the USDC-pegged tokenized strategy mEVUSD

Odaily Planet Daily reports that Apollo Crypto announced it will manage a tokenized yield strategy product called mEVUSD, which is denominated in USDC. The product is jointly developed by non-custodial staking infrastructure provider Everstake and on-chain investment platform Midas. The strategy aims to convert idle stablecoins into income-generating digital assets and generate returns through financing spreads and interest rate arbitrage, rather than relying on cryptocurrency price appreciation.

According to the announcement, Apollo Crypto will serve as the risk management and strategy curation partner, responsible for actively managing the tokenized investment portfolio. The strategy will diversify lending and perform market-neutral basis trading on mainstream DeFi protocols such as Aave, Morpho, and Pendle to reduce directional market risk. (The Block)