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Overnight Finance is a DeFi protocol offering delta-neutral, fully collateralized on-chain yield for stablecoins and crypto assets, backed by assets convertible to USDC on a 1:1 basis. Users mint tokens (USD+, ETH+, etc.), then earn daily passive yields simply by holding them, with DeFi usage via Swap and Zap In, and an insurance layer that absorbs the first loss on negative rebases using the native OVN token. It partners with trusted protocols like Aave and Uniswap V3, reports about $18.9 million total value locked across networks, and targets 5-12% APY for token yields with higher returns on insurance products, though yields are not guaranteed and can vary daily.
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