I feel like Momentum @ MMTFinance will be here soon, Recently, MMT has joined the stablecoin LP pool, The yield is also super high! The annualized rate of USDY-USDC is as high as 46.8% The annualized rate of USDZ-USDC is as high as 86.9% I found Surf @ SurfeCopilot to analyze USDY and USDZ ·USD (treasury bond support mode) Issued by Ondo USDY LLC, open only to non-U.S. persons Collateral: short-term US treasury bond bonds+bank demand deposits Liquidity risk: 40-50 day transfer lock term limit for initial holders ·USDZ (Private Credit Model) Assets are held in custody by licensed partners in the United States Collateral: Diversified private credit asset portfolio (invoices, merchant accounts receivable, car rentals, etc.) Liquidity risk: Small scale and limited trading activities The conclusion given by Surf is: USDY is leading in terms of scale, compliance, and institutional adoption, making it a safe and profitable asset; USDZ has advantages in terms of yield and DeFi integration, but its scale is small and the risk is high. Investors should choose appropriate products based on their risk preferences and return objectives.