Stella
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Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.09% | 2.97% | 14.74% | 7.12% | 10.23% | 56.59% |
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Data source: CoinGecko
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| Bitkub (a601) |   ALPHA | 323,609,865 | 32.36% | $146.77K |
| 0x580c...f68e | ALPHA | 144,941,028.33 | 14.49% | $65.73K |
| 0xfac6...5260 | ALPHA | 96,149,682 | 9.61% | $43.6K |
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About Stella
Stella is a leveraged DeFi platform on Arbitrum that lets users borrow assets at 0% interest and execute leveraged strategies on protocols like Uniswap V3, Trader Joe, and Camelot. Its core innovation is the PAYE (Pay-As-You-Earn) model: lenders provide assets to earn a share of borrowers' profits, while borrowers only pay when their strategies generate returns. This replaces the traditional interest rate model (IRM) that often caps lender yields and creates conflicts between borrowers and lenders.
Stella addresses the pain point of inefficient capital and misaligned incentives in traditional lending. By removing upfront borrowing costs and aligning both parties' interests with actual strategy performance, it unlocks higher yields for lenders and lower barriers for borrowers.
In the past six months (2026-03-01 to 2026-09-01), Stella expanded its strategy offerings across multiple protocols, including new Camelot V3 pools (GRAIL-WETH, PLS-WETH, SILO-WETH) and Trader Joe V2 pools (JOE-WETH, GMX-WETH). The Hypernova upgrade broadened supported assets to include Pendle and Penpie LSD strategies. TVL grew significantly as Arbitrum DeFi adoption increased.
A notable negative event: in 2021, the predecessor protocol Alpha Homora suffered a hack resulting in a $37.5 million loss. While this predates the Stella rebrand, it remains a historical risk factor for the platform.
Stella, formerly Alpha Finance Lab, was founded in 2020 by Tascha and team, pioneering leveraged yield farming with Alpha Homora, which peaked at $1.9B TVL. In 2023, it rebranded to Stella, shifting to a 0% borrowing cost model on Arbitrum, introducing the Pay-As-You-Earn (PAYE) mechanism to align lender and borrower incentives. In June 2024, Stella proposed transforming into LitLayer, a chain-agnostic leveraged infrastructure protocol, with a 1:1 token migration from ALPHA to LTLY (3B max supply), aiming to enable leveraged trading across any chain. In January 2025, it integrated Trader Joe's liquidity book strategies, expanding its leveraged market-making offerings. These milestones mark its evolution from a single-chain leveraged farm to a universal leverage layer.
Nipun Pitimanaaree (Co-Founder & CTO of INFINIT, previously Co-Founder of Stella and Beta Finance; graduated from MIT with MEng in Electrical Engineering and Computer Science, and BS in Computer Science; former Product Manager at Tencent and Investment Banking Analyst at Jefferies)
Tascha Punyaneramitdee (Co-Founder of Stella, Founder & CEO of INFINIT; graduated from UC Berkeley; attended Harvard Business School (MBA dropout); former Product Manager at Tencent and Investment Banking Analyst at Jefferies)