Svmuu News: Apollo Crypto has announced that it will manage a USDC-denominated tokenized yield strategy product called mEVUSD, which was jointly developed by Everstake, a non-custodial staking infrastructure provider, and Midas, an on-chain investment platform. The strategy aims to transform idle stablecoins into yield-generating digital assets and generate returns through funding spreads and interest rate arbitrage, rather than relying on rising crypto asset prices. According to the announcement, Apollo Crypto will serve as the risk manager and strategy curator, responsible for actively managing the tokenized portfolio. The strategy will mitigate directional market risk through diversified lending and market-neutral basis trading across mainstream DeFi protocols such as Aave, Morpho, and Pendle. (The Block)