Aerie Capital has launched a dedicated lending market on the Ethereum mainnet using the Morpho protocol. This platform allows holders of Plume vault tokens to use their assets as collateral to borrow stablecoins directly on Ethereum, eliminating the need to bridge assets from the Plume chain.
The market supports four specific Plume/Nest receipt tokens: nALPHA, nOPAL, nBASIS, and nFALCON. These tokens represent various institutional-grade yield strategies, including credit receivables, basis trading, and treasury positions. Each token is designed to target a distinct risk-return profile.
The nOPAL token focuses on Brazilian credit card receivables and has reported historical yields of 8–12% APY with zero defaults since its inception in late 2025. The cumulative settled volume for all Plume Vaults is estimated between $600 million and $800 million.
By deploying on Ethereum, Aerie Capital aims to leverage existing DeFi liquidity. Users can now perform strategies like looping, where they borrow stablecoins against their collateral to purchase more yield-bearing assets, which are then posted as additional collateral.
Plume products are currently active across Ethereum, the Plume chain, Solana, and Avalanche. While the new market increases liquidity access, the curator notes that looping strategies amplify both potential returns and exposure to underlying asset risks.
