apxUSD

Merkl's 2026-04-30 report highlights top stablecoin liquidity incentives, with USDm offering 24.10% APR via Mento and Monad. Other notable yields include 21.33% for EURm-USDm pairs and 18.67% for apxUSD on Ethereum. Campaigns require over $100k liquidity and more than 5 days remaining.

The article highlights the highest yield opportunities for Principal Token (PT) stablecoin investments across 1K, 10K, and 100K USD tiers, with Pendle dominating the market. Newcomer USP from PikuDAO enters the rankings, leveraging delta-neutral strategies. Yields range from 13.85% to 19.00%, though risks like stablecoin depegs are noted.