August 2025: $1.2B USDf, Yap2Fly Campaign, and $10M Insurance Fund

August was a defining month for Falcon Finance, with USDf crossing 1.2B in circulation. We launched Yap2Fly, a new mindshare and Miles leaderboard campaign that brings product usage and community energy together. We also seeded a $10M onchain insurance fund to strengthen trust and long-term confidence. Community contests and new educational guides kept things engaging, reminding us it’s not just about numbers going up, but about growing together with Falcon, just like we’ve always envisioned.

USDf & Product Updates

sUSDf Outperforming Major Yield-Bearing Stablecoins

This chart shows that since our public launch on April 30, sUSDf (pink line), the yield accruing token of USDf, has outperformed every major yield-bearing stablecoin, including Ethena’s sUSDe, Maple’s SyrupUSDC, Sky’s sUSDS, Ondo’s OUSG, and BlackRock’s BUIDL. (Source: StableWatch)

30D APY as of Aug 30, 2025:

• sUSDf: 9.30%
• 6-stable average: 6.22%

With $1.23B in circulation, USDf is in the top‑10 stablecoins for the second month in a row.

Here’s a snapshot of USDf and sUSDf as of August 31, 2025, covering supply, yield, and overall protocol growth.

• USDf supply surged ~9.82% MoM, climbing from $1.12B in early August to $1.23B today.
• Total backing stands at $1.36B, with an overcollateralization ratio of ~110.57%.
• sUSDf is delivering 7.86% APY, with its price rising to $1.0624 over the past month, reflecting steady yield accrual and compounding returns.

$10M Onchain Insurance Fund

We have seeded an onchain Insurance Fund with an initial $10M in USD1. This marks a foundational step toward long-term protection for USDf and its ecosystem.

As Falcon continues to scale, the Insurance Fund is intended to grow accordingly. Our goal is to provide lasting, verifiable protection that builds confidence for both institutions and retail users.

The Insurance Fund is trackable on our Transparency page.

Ecosystem Growth & Partnerships

Falcon’s ecosystem continues to expand across DeFi. From the frxUSD–USDf pool on Curve (with triple rewards stacking) to 30× Miles on Gearbox, we’re doubling down on utility and incentives. USDf is now listed on Bitget Wallet for easy trading, and our market-neutral yield engine is live on Zignaly, bringing USDf and sUSDf to a broader audience through diversified, overcollateralized strategies. The adoption arc is accelerating.

frxUSD × USDf Pair Live on Curve Finance

frxUSD × USDf pair is now live on Curve Finance. Triple stack your rewards:

• First, LP to earn CRV plus up to 40x Falcon Miles, deposit here.
• Next, vote to farm both FXS and USDf incentives on the Stake DAO votemarket.
• Finally, boost on Convex Finance or Stake DAO to earn even more CRV.

USDf Listed on Bitget Wallet

Making crypto for everyone. USDf is now live on Bitget Wallet, so you can buy, sell, and swap it directly in‑app!

Falcon Yield Now Live on Zignaly

Our market-neutral yield engine is now live on Zignaly, bringing USDf and sUSDf to a wider audience. Built on diversified strategies and overcollateralization, it’s another step forward in making sustainable onchain yield more accessible for institutions and everyday users alike.

The USDf adoption arc continues.

Earn 30x Falcon Miles by supplying USDC liquidity on Gearbox

Another boost for money market participants: we introduced a 30× Falcon Miles multiplier for users supplying USDC liquidity on Gearbox Protocol.

This applies to both new and retroactive LPs, meaning if you’ve already been farming on Gearbox, you’re already stacking Miles. Just check your Miles dashboard to see what you’ve earned.

Community & Campaigns

Our community campaigns took flight with Yap2Fly, rewarding users for both product usage and the mindshare they generated on social media. In August alone, $50,000 in USDf was distributed to the top 50 on the leaderboard and more rewards await as the campaign rolls into September.

We also launched the Mile High Club, a dedicated X community where Falcons connect, share memes, swap strategies, and flex their Miles and Badge collections.

Yap2Fly: Earn Rewards for Using and Promoting Falcon Finance

We kicked off Yap2Fly with Kaito on August 5, designed to reward both mindshare and real product usage.

Every month, the top 50 on the leaderboard share $50,000 in USDf rewards, and by the end of the campaign, the top 200 can unlock special rewards based on your Falcon Badge collection.

You can find the full details in our docs here.

August rewards have been distributed to the top 50 on the leaderboard. Whether you’ve been yapping, stacking Miles, or collecting Badges, we’re grateful. Your participation powers Falcon’s growth, and we couldn’t do it without you.

Welcome to the Mile High Club

As part of Yap2Fly, we’ve launched a dedicated X community called the Mile High Club, a space for all our participants to connect, share, and grow together.

Whether you’re here for the memes, the insights, or the Miles, this is where our most engaged Falcons hang out. Members have been posting content ideas, reflections on their Falcon journey, tips on stacking Miles, and even glimpses of their Badge collections. It’s not just about competition but also learning and building alongside each other.

If you haven’t joined yet, come aboard here and say hi!

We’ve also opened up Chinese, Korean, and Vietnamese communities, each with their own contests and extra prizes. Recent highlights included a Chinese content contest with $1,000 USDf up for grabs, and an AMA recap contest where winners took home a limited-edition Falcon poker set.

Missed out? no worries, more contests are coming your way in September!

Join Falcon’s Official Telegram Channel

Want to stay on top of the most important Falcon Finance updates?

Join our official Telegram channel where we share major announcements, campaign news, yield opportunities, and product updates.

It’s the best way to make sure you don’t miss anything important, right alongside following us on X and Linkedin. Whether you’re minting USDf, stacking Miles, earning rewards, or exploring new DeFi integrations, you’ll always be in the loop.

Media Engagement & AMAs

Falcon was featured in Business Insider, Investing.com, Crypto.news, and others, covering our $10M Insurance Fund, stablecoin policy, and the Yap2Fly campaign. We also hosted a series of AMAs and community sessions, including deep dives on USDf, LPing strategies, and Silo vaults. At RWA Connect in Hong Kong, Falcon’s Lingling Jiang joined industry leaders to discuss building institutional trust in onchain real world assets.

Falcon Establishes $10M Onchain Insurance Fund

In a Business Insider feature, Falcon’s launch of its $10 million onchain Insurance Fund was highlighted as a major move toward trust and transparency in DeFi. Positioned as one of the most robust protection layers among stablecoin issuers, the article noted Falcon’s commitment to building verifiable safeguards for users and institutional partners.

🔗 Read article

Andrei Grachev on U.S. Crypto Policy and Institutional Readiness

In Investing.com, Falcon’s Managing Partner Andrei Grachev commented on recent U.S. political developments impacting crypto regulation, including policy proposals tied to retirement accounts. He emphasized the importance of clarity and consistency in attracting institutional participation. 🔗 Read more.

If institutions keep getting mixed signals, it’s natural they’ll sit on the sidelines.

Why Regulation Should Distinguish Income from Liquidity

Falcon contributed an op-ed to Crypto.news advocating for more nuanced stablecoin policy frameworks. The piece called for regulators to separate income-generating activities from core liquidity backing, a move that could enable safer and more sustainable innovation in the space.

🔗 Read op-ed

Yap2Fly Campaign Recognized for Community Innovation

Falcon’s Yap2Fly campaign, which rewards users for both DeFi usage and social engagement, was featured by Finbold, Investing.com, and others. The coverage highlighted its $50,000 monthly prize pool, real-time leaderboard, and unique focus on “mindshare + Miles” as a model for deeper, community-driven adoption.

🔗 Read coverage

Andrei Grachev on the GENIUS Act and Stablecoin Evolution

Commenting in The Crypto Times on the U.S. GENIUS Act, Andrei noted how treasury-backed stablecoins could play a larger role in macroeconomic infrastructure. 🔗 Read commentary.

If issuers start holding large amounts of Treasurys, that changes their role from niche instruments to key players in the economy.

Falcon Deep Dive: USDf, Miles & Yap2Fly

On August 20, we went live on X for a special Falcon broadcast by diving into what makes USDf different, how to earn and boost Miles, and the secrets behind Yap2Fly and our new Badge system.

If you missed it, don’t worry, you can catch the full recap here and get up to speed in just a few minutes:

👉 Read the broadcast recap

Step by Step: How to LP USDf on DEXs and Earn Falcon Rewards

On August 18, we hosted a hands-on LPing demo on Discord for users curious about how to provide liquidity for USDf on DEXs. Barney and XY walked through everything from farming Merkl rewards to stacking Falcon Miles and collecting Yap2Fly badges.

If you’re new to LPing or just want to maximize your rewards, this cheat sheet is worth checking out.

Falcon x Silo: Vaults & Bonus Rewards

We hosted an in-depth session with Silo, to explore how Silo’s isolated lending vaults work, how users can supply and borrow assets securely, and how to maximize yield by earning Falcon Miles with boosted multipliers. The discussion offered practical insights for both new and experienced DeFi users looking to make the most of money markets while stacking rewards.

Building Institutional Trust for Onchain Real World Assets (RWAs)

Institutions want yield but they need trust and safeguards first. At RWA Connect in Hong Kong, hosted by Yat Siu and HashKey Group, Falcon’s Lingling Jiang joins leaders from Morpho, Solana Foundation, and HashKey to explore how we build institutional confidence in onchain real world assets, from custody and compliance to transparency and incentives.

What’s Next?

August reminded us how far we can go when product and community grow side by side. USDf kept expanding, sUSDf delivered steady yields, and Yap2Fly brought fresh energy and fun. As we head into September, we’re staying focused on being transparent, useful, and connected. More updates coming soon, so make sure your notifications are on. 😄