Falcon Finance launched mid-2025 and honestly it's kind of the opposite of what you'd expect from DeFi these days.
No crazy promises, no moon talk, just a protocol that lets you turn assets like Bitcoin, ETH, even tokenized bonds into USDf, which is basically a stable synthetic dollar.
They're sitting at around $1.6 billion locked up now, which isn't flashy but it's real. The whole thing runs on overcollateralized positions, usually between 120-150%, so there's cushion when markets go sideways.
You can stake USDf into sUSDf and get around 8.7% yield from pretty conservative strategies, nothing wild but it's been steady for months.
They got a $10 million investment from World Liberty Financial back in August, added real-world assets like Mexican CETES and US Treasuries by October, and the $FF governance token went live on Binance in September.
It's all very methodical, almost boring in a good way. They use regulated custodians like Fireblocks and post real-time attestations, so it feels more like actual infrastructure than another DeFi experiment that'll blow up in six months.
