As the crypto bull market continues, traders and investors look to leverage their holdings for more directional exposure or to reduce counterparty risk when depositing to exchange venues. With a massive ramp-up of borrowing comes juiced-up stablecoin yields as a supplier - finally, DeFi once again provides yields that top your risk-free rate on money market funds.
Does this increased yield come at a significantly higher risk due to, for example, smart contract vulnerabilities? Yes, it does, and only you will know your risk tolerance in deciding whether to capitalise on the following yield opportunities that we expect to get even better as the crypto markets get more heated throughout 2024.
All represented yields are as of 10/01/2024 and are subject to change, so be sure to check on the respective dapps to compare which has the highest rate at a given time.
All protocols are audited.
Relative Risk: 1/5
Networks: Ethereum, Arbitrum, Polygon, Base
Yield:
Supplying USDC: 8-10%~ APR
Link: app.compound.finance
Relative Risk: 1/5
Networks: Ethereum, Arbitrum, Optimism, Avalanche
Yield:
Supplying USDC/DAI/USDT/LUSD: 10-20%~ APY
Link: app.aave.com
Relative Risk: 2/5
Networks: Arbitrum, Avalanche
Yield:
USDC/USDT/USDT.e/USDC.e Pools: 15-20%~ APR
USDV/USDC Pools: 70%~ APR (with JOE Rewards)
Link: traderjoexyz.com
Relative Risk: 3/5
Networks: Ethereum, Arbitrum, Avalanche, Base, Kava, Polygon, BNB, Optimism
Yield:
Supplying USDT/USDC: 8-10%~ APY
Link: stargate.finance/farm
Relative Risk: 3/5
Networks: Ethereum
Yield:
Supplying USDC: 10%~ APY (with GEAR rewards)
Link: app.gearbox.fi/pools
Relative Risk: 3/5
Networks: Ethereum
Yield:
crvUSD/LUSD Pool: 20%~ APR (with CRV, CVX rewards)
crvUSD/USDP Pools: 18%~ APR (with CRV, CVX rewards)
crvUSD/sUSD Pools: 18%~ APR (with CRV, CVX rewards)
crvUSD/USDTPools: 10%~ APR (with CRV, CVX rewards)
Link: convexfinance.com/stake
Relative Risk: 3/5
Networks: Arbitrum
Yield:
Supplying USDC/USDT/DAI: 10-15%~ APR (with ARB rewards)
Link: https://app.gmx.io/#/earn
Relative Risk: 3/5
Networks: Ethereum
Yield:
Supplying GHO/USD: 15-20%~ APR
Link: app.mav.xyz/boosted-positions?chain=1
Relative Risk: 3/5
Networks: Avalanche, Arbitrum
Yield:
Supplying USDC: 10—20%~ APR
Link: deltaprime.io
Relative Risk: 4/5
Networks: Ethereum
Yield:
Supplying USDC/USDT: 15% APR (with ACX rewards)
Link: across.to/rewards
Relative Risk: 4/5
Networks: Arbitrum
Yield:
Supplying USDC/USDT: 27%~ APR (with ARB/VRTX rewards)
Link: app.elixir.finance/orderbooks
If you have any questions, feedback or views on the topic, contact us on Twitter (@TortugaOnchain). We would love to hear it. Also, if you found this content useful, please consider following us on our social media, subscribing and sharing it with others.
Tips, disclosures & more: tortugaonchain.com
Trading dashboard: apps.tortugaonchain.com
Twitter: @TortugaOnchain, @andrew_eth, @galleonlabs
Enquiries: gm@galleonlabs.io
The content in this newsletter is not financial advice. This newsletter is strictly educational, not investment advice or a recommendation to buy or sell assets or make financial decisions. Do your own research; crypto markets are volatile.
Galleon Labs
