stablecoin projects to farm
2025 is the year for stablecoins
It’s the 79th edition of the Gems Corner and today we will be looking at some tokenless stablecoin projects to farm for airdrops and yields, plus other alphas.
Recently, the total market capitalization of stablecoins crossed $230 billion. Also, the number of active stablecoin wallets surged 53% YoY, rising from 19.6M to a whopping 30M+ in Feb 2025. This clearly shows that the adoption of stablecoin is spreading swifter than anticipated.
One of the primary catalysts behind its rise is the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—a U.S. legislative proposal aimed at creating a regulatory framework for payment stablecoins, which was recently passed.
The bill provides clear guidelines for the issuance and oversight of stablecoins in the United States. Beyond the U.S., other countries are also beginning to roll out crypto-friendly policies.
As stablecoin adoption grows, so do the opportunities for airdrops and attractive yields—especially from yield-bearing stablecoins. Enough with the intro—let’s dive into the top stablecoin projects to farm.
1. OpenEden
OpenEden is quickly emerging as one of the most regulatory-compliant and institutional-grade RWA platforms. They even launched a tokenized product with a Moody’s rating—an impressive feat in the space.
Recently, they introduced Bills, their points program that rewards users for interacting with the platform.
You’ll earn 1x Bills simply by holding $USDO or $cUSDO. There are also multipliers—currently, you can earn 5x Bills by providing liquidity to the $cUSDO-USDC pool on Curve Finance or Aerodrome, among other options.
Start farming here
2. Resolv
Resolv Labs is building a new kind of stablecoin architecture rooted in a crypto-native, collateral-only narrative. They’re one of the fastest-growing stablecoin protocols, with over $629M in TVL already.
You can earn Resolv Points by engaging in DeFi activities using their stablecoin, $USR. They’re also gearing up for a fundraise on Legion—which, in my opinion, is a no-brainer.
Start farming here
3. Noble
They’re purpose-built for stablecoin issuance. Noble Dollar ($USDN) is a stablecoin fully backed by short-term U.S. Treasury bills and powered by the M^0 Protocol. Since launch, over $40 million USDN has been minted.
The first way to unlock more value from your USDN is by depositing it into the Points Vault. Token holders with USDN in the vault earn rewards based on this formula: (# of days in vault × amount / 100) × multiplier. It’s worth farming.
Start farming here
4. Multipli
Multipli is another strong stablecoin protocol to keep an eye on. Not only are they currently tokenless, but they’re also offering some solid yields on stablecoins.
Their Orbs campaign is live, where you can accumulate Orbs (points) based on DeFi activities and referrals.
Start farming here
5. Level
Backed by Dragon Fly, lvlUSD is a leading stablecoin with DeFi-native yield. lvlUSD is designed to be fully backed by USDC and USDT, the largest and most liquid fiat-backed stablecoins.
You can farm their XP (points) by buying lvlUSD and using it on defi plays within the Level ecosystem, or referring users.
Start farming here
The era of stablecoins is upon us - move with the flow.
Alpha Bites and Tweets
That’s a wrap.
Thanks for reading!
Till next Friday,
Viktor DeFi.
PS: I’d love to hear your feedback and comments.