CoinMeta data: The deposit scale of the crypto lending vault has exceeded $10 billion, an increase from $4 billion at the beginning of last year. Such products operate based on DEFI smart contracts, with annualized yields ranging from 3% to over 20%. Participants include fintech companies, crypto treasuries, and hedge funds. two prime launched a Bitcoin lending vault on Pareto in September, using WBTC as the underlying asset, with a target annualized yield of 1.5% to 2%. A minimum deposit requirement of 5 WBTC was set, and institutions invested tens of millions of dollars in their own funds to bear the initial losses.