Apollo Crypto has been appointed to manage mEVUSD, a USDC-denominated tokenized yield strategy developed by Everstake and Midas. This initiative aims to transform idle stablecoins into yield-generating assets by leveraging financing spreads and interest rate arbitrage, rather than relying on crypto asset price appreciation. Apollo Crypto will oversee risk management and strategy, employing diversified lending and market-neutral basis trades across DeFi platforms like Aave, Morpho, and Pendle to mitigate market risk.