# This Week at Royco #2 - Markets Compounding 

> Three more markets opened to the public this week, and Royco's tranches are now live on Pendle and Morpho.


**Published by:** [Royco](https://blog.royco.org/)
**Published on:** 2026-05-08
**Categories:** royco, defi, tranching, yield, pendle, morpho, lifi, weekly, update
**URL:** https://blog.royco.org/this-week-at-royco-2-markets-compounding

## Content

TL;DR Three new markets open to the public: Auto Finance, Avant, Maple. Four live in total. apyUSD Junior went live on Pendle. Currently the highest-paying stablecoin yield on the platform. Senior apyUSD listed as Morpho collateral. Three New Markets Open AUTOfinance (autoUSD): Stablecoin capital actively rebalanced across Aave, Fluid, Morpho and 79+ destinations. Avant Protocol (savUSD): Multi-strategy yield, primarily looped positions across money markets. Maple Finance (syrupUSDC): Institutional lending marketplace running since 2021. Capital lent to KYC'd, credit-underwritten institutional borrowers. All loans overcollateralized and on-chain. Tranches, Now Composable Tranching unlocks new types of depositors: the risk-averse going Senior, the risk-seeking going Junior, and the users entering through protocols composed on top. This week, the third type started showing up: apyUSD Junior on Pendle. Fix the rate at 19.35% APY through November 5th, 2026, or trade the yield via YT. Senior apyUSD on Morpho. Two collateral markets (against USDC and apxUSD) with near-zero borrow rates. Designed for looping covered yield. New collateral for credit markets to build on. That's the third profile of capital, unlocked by tranching. Any Token, Any Market Lifi is now integrated across the Royco app. On the Senior Royco USDC Vault, depositors can bring any token and swap directly into the vault. Same on every market page. The apyUSD market from Apyx, for example, now has a Swap tab. Bring any token, swap into apyUSD and deposit into the Senior or Junior tranche directly. What's Next More markets queued. Senior apyUSD on Pendle next. The Initial Market Cohort is half deployed. The other half is coming. Royco is just getting started.

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