Original | Odaily Planet Daily
Author | Azuma
The cryptocurrency market has suffered another heavy blow today. Although Bitcoin’s decline has narrowed to less than 1%, the altcoin sector has collectively plunged with the short-term appearance of BTC. Representative altcoins from different tracks such as SOL, PEPE, ORDI, ARB, and TIA have all recorded declines of over 10% or even 20%.
While the secondary market is currently tumultuous, for ordinary investors, besides direct trading, there is another relatively slow but stable operating mode – using major DeFi protocols to achieve relatively low-risk, high-yield interest strategies.
In the following text, Odaily Planet Daily will recommend multiple stablecoin interest strategies found online based on its own operational experience. These strategies, while relatively simple in operation, generally yield stable profits of 10% or even 20%. Some strategies also allow for interaction with underlying networks or DeFi protocols that have not yet issued coins, enabling users to “kill two birds with one stone”.
It is important to emphasize that no DeFi protocol can completely avoid contract risks. Some DeFi protocols may also face liquidity risks, composability risks, and more due to their business models. Therefore, when choosing to execute a specific strategy, it is essential to understand the specific risks involved beforehand and try to avoid “putting all your eggs in one basket”.
Ethereum Mainnet
Recommended Strategy One: Ethena sUSDe
Operation: Purchase USDe directly on the Ethena website, then pledge and exchange it for sUSDe;
Real-time yield: 17.5%;
Revenue composition (types of reward tokens that can be obtained): sUSDe appreciation (can exchange for more USDe);
Other potential earnings: ENA Phase 2 airdrop;
Note: Ethena’s sUSDe is currently one of the highest APY opportunities in the cryptocurrency market with a large-scale stablecoin mining pool (worth tens of billions of dollars), surpassing tokenized national debt products like MakerDAO’s sDAI. The real-time APY of sUSDe may fluctuate with market leverage conditions, but historically, it has remained at a consistently high level. Additionally, through sUSDe, users can also accumulate Ethena’s Phase 2 airdrop vouchers sats (accumulation efficiency is low but stable in earnings), thereby gaining access to ENA’s next airdrop.
Recommended Strategy Two: Gearbox Lending Deposit
Operation: Deposit various stablecoins via Earn on the Gearbox website;
Real-time yield: Generally above 10% except for USDT;
Revenue composition: Primarily stablecoins with a small amount of GEAR incentives;
Note: Gearbox, as a leveraged lending protocol, actually supports higher-yield leveraged gameplay (Farm). However, this operation has a certain threshold for ordinary users, so it is recommended to opt for a relatively simple deposit method (Earn, essentially lending deposits). The reason for recommending this pool is that Gearbox is primarily composed of stablecoins, making its actual yield more stable and less prone to significant decreases in earnings due to token incentive crashes.
Solana
Recommended Strategy One: marginfi and Kamino Lending Deposit
Operation: Deposit USDT or USDC for interest on marginfi or Kamino;
Real-time yield: 12% – 16%;
Revenue composition: Stablecoins;
Other potential earnings: marginfi airdrop and Kamino Phase 2 airdrop;
Note: marginfi and Kamino are the first and second lending protocols on Solana. Due to the high trading activity in the Solana ecosystem, the demand for lending on this ecosystem is generally higher than others, resulting in higher lending yields on marginfi and Kamino compared to other ecosystems. Additionally, marginfi has yet to undergo TGE, and Kamino’s Phase 2 point activity is ongoing, both with certain potential airdrop incentives.
Starknet
Recommended Strategy One: Ekubo LP
Operation: Use USDT and USDC to create trading pairs on the Ekubo website for liquidity provision;
Real-time yield: 26.69%;
Revenue composition: Primarily STRK with native liquidity provision earnings as a supplement;
Note: Benefiting from Starknet’s DeFi Spring incentive plan, participating in various DeFi protocols on Starknet currently yields considerable returns. Ekubo, as the largest DEX protocol in this ecosystem in terms of liquidity and trading volume, strikes a good balance between security and yield.
Recommended Strategy Two: zkLend and Nostra Liquidity Mining
Operation: Deposit USDT or USDC for interest on zkLend and Nostra;
Real-time yield: Around 20%;
Revenue composition: Primarily STRK with stablecoin native earnings as a supplement;
Note: Similar to marginfi and Kamino on Solana, but the revenue composition is mainly composed of STRK incentives (similar to Ekubo). Users bullish on STRK’s future performance may consider participating.
Scroll
Recommended Strategy One: DODO LP
Operation: Create trading pairs using DAI, USDT, USDC, etc., on the DODO website for liquidity provision;
Real-time yield: 12% – 15%;
Revenue composition: Primarily DODO with stablecoin native earnings as a supplement;
Other potential earnings: Scroll airdrop incentives;
Note: With major Layer 2 projects issuing tokens, Scroll, which has not yet issued tokens, has gained more attention and liquidity. Considering various DeFi protocols on Scroll, DODO, as a well-established DEX with good security, benefits from its own liquidity incentive program, showing high APY performance with stablecoin trading pairs. Therefore, it is recommended for users to use it as a major hub for interacting with Scroll.
Aptos
Recommended Strategy One: Echelon Lending Deposit
Operation: Deposit various stablecoins for interest on Echelon;
Real-time yield: 11% – 17%;
Revenue composition: Stablecoin native earnings plus APT incentive earnings;
Other potential earnings: Echelon airdrop earnings;
Note: Echelon is the second-ranked lending protocol on Aptos in terms of TVL, second only to Aries Markets. However, perhaps due to its inclusion in the Aptos incentive program, the overall APY on this platform is significantly higher than the latter. Additionally, Echelon has launched a point program, indicating that participating in the protocol currently also carries some potential airdrop expectations.
Sui
Recommended Strategy One: Cetus LP
Operation: Use USDT, USDC, and other assets to create trading pairs on Cetus for liquidity provision;
Real-time yield: 16.28%;
Revenue composition: Primarily SUI incentives, with CETUS and stablecoin native earnings as supplements;
Note: The largest DEX protocol on Sui, the income mainly comes from the ecosystem incentives provided by Sui.
Once again, emphasize risk
The above are some of the stablecoin interest strategies we currently recommend.
For risk control and simplicity reasons, the strategies mentioned only cover some of the simpler DeFi operations and involve basic actions such as pledging, deposits, LP, etc. However, the potential earnings that can be obtained are generally higher than those from passive financial management within exchanges. For users who are unsure of how to operate in the secondary market and do not want their stablecoins to remain idle, consider these strategies.
Lastly, it is important to reiterate that the DeFi world is a dark forest that is always accompanied by risks. Before operating, be sure to understand the risks and DYOR.
