EUR/CHF to 0.9450 by December 2026 from 0.9155. The mechanism is the SNB's stated willingness to intervene against franc strength — a soft floor, not a hard cap.
Aave Arc, the whitelisted institutional pool launched with 30 firms in 2022, holds $57,262. Morpho Blue added $926m in 30 days. Permissioned DeFi lost.