Plaza Finance has launched the first programmable derivative tokens on Base, introducing bondETH and levETH, a new class of on-chain financial instruments designed to offer innovative Ethereum investment strategies in the DeFi space.
BondETH targets yield-focused investors, offering a fixed USDC income stream backed by a diversified pool of staked and restaked Ethereum assets, including liquid staking and restaking tokens (LSTs and LRTs). In contrast, levETH is built for long-term Ethereum bulls, providing leveraged exposure without the risk of liquidation commonly seen in perpetual futures and lending markets.
The protocol aims to address the lack of structured investment products in DeFi, where offerings are often limited to high-risk, short-term trades. By introducing programmable derivatives, Plaza Finance enables tailored risk-reward profiles, aligning with more sophisticated and sustainable strategies.
Backed by $1.5 million in early deposits and interest from over 600,000 testnet users, the launch positions Plaza Finance as a key innovator in Ethereum-native yield and leverage products. The protocol’s architecture allows its derivative tokens to remain liquid, integrating seamlessly across DeFi platforms while continuing to support Ethereum’s network security through staking.
To extend its reach beyond Base, Plaza Finance has partnered with omnichain interoperability leader LayerZero, enabling future expansion of its derivative products across multiple blockchains.
Founder Ryan Galvankar said the launch reflects Plaza’s mission to democratize access to high-quality, decentralized financial instruments.
“We’re building the next layer of global capital markets infrastructure—transparent, programmable, and fully on-chain.”
Following its $2.5 million pre-seed funding round led by Anagram Ventures, Plaza Finance plans to expand its product suite with bondBTC, levBTC, and derivatives based on Solana and real-world assets.
In another development, Falcon Finance has announced the integration of its yield-bearing stablecoin, $sUSDf, into Pendle’s decentralized finance (DeFi) platform, opening up new opportunities for users to generate stable on-chain yields. The move marks a strategic step toward deepening Falcon’s footprint in the DeFi landscape by offering more utility and flexibility to its growing community of users.
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