> For the complete documentation index, see [llms.txt](https://stableigen.gitbook.io/stableigen/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://stableigen.gitbook.io/stableigen/stablecoins-evolving-defi-yield.md).

# Stablecoins: Evolving DeFi Yield

#### So why StablEigen can offer an unique Positioning?

* **Morpho lending markets:** limiting risk through BTC and Ethereum derivatives as sole collateral (not relying on the solvency and liquidity of volatile governance tokens or implications of governance risks at the AAVE DAO level)
  * AAVE is the biggest player, but the core thesis behind Morpho as infrastructure rather than merely a protocol (along with the elimination of governance token and DAO risks)positions it ideally for institutional adoption, offering enormous growth potential both in nominal dollar terms and lending market share.

<figure><img src="/files/zJnQvEhVPYNvk2KqPG8O" alt=""><figcaption><p>AAVE is 7x bigger than Morpho today. I expect morpho catching up and reducing the gap to 2x in the following 24 months (while considerably growing in size)</p></figcaption></figure>

* **EigenLayer restaking:** leveraging Ethereum’s robust restaking ecosystem, previously untapped by stablecoin issuers.

  * [CAP ](https://cap-labs.gitbook.io/cap-overview)is the only one building stablecoin design on top. of Eigen Layer, while levelUSD used the same mechanism that stablEigen but without the network effects of Eigen ecosystem and the value proposition is different (here you won't rely on CAPs operators....which risk is subjective - I like CAP :smile: )

  <figure><img src="/files/V1prvmq6X3do6GzsCfZE" alt=""><figcaption><p>Eigen is the leader and creator or restaking narrative and there is room for more than 1 stablecoin likely.</p></figcaption></figure>

Stableigen aims to uphold DeFi’s core values; permissionless, transparent, and composable finance, by harnessing decentralized lending markets (Morpho) and Ethereum economic security infrastructure (EigenLayer)&#x20;