Cover photo

DeFi Vaults Issue #65

DeFi Market Research Newsletter

If you've been wondering why the look of DeFi Vaults has changed, I have switched my newsletter service provider from Substack to!

Paragraph is a truly decentralized publishing platform that allows me to own my work (via ARweave) and connect with you guys in new ways (collectible posts, token-gated posts, wallet notifications etc.)

Hope you guys like the new look ;). Now, on to latest DeFi alfa:

⚡️What’s new?⚡️

🏦 DeFi Vault Spotlight: MIM/USDC.e/USDT >5% APY

🧪 Yield Farming 101: $GHO Ce/DeFi Stablecoin Strategy

📊 Charts & Stats: Introducing the DeFi Vaults Stablecoin Dashboard

🐦 Last Week in Crypto Twitter (CT): Frax experiments with tbills for V3, Liquity V2 is on the horizon, Optimism introduces new SuperChain governing structure, and more.

🏦 DeFi Vault Spotlight: MIM/USDC.e/USDT

This MIM/USDC.e/USDT vault on Beefy (via Arbitrum) hasn't dropped below a 5% APY since it's inception! It also has a TVL of ~$2.2M which is a great sign for users with <=$10k funds, as your deposits won't rapidly dilute the rewards.

Note: USDC.e is a token representing USDC on Avalanche that was bridged from the Ethereum blockchain via the Avalanche Bridge.


  • MIM depeg risk

  • USDC.e

    • depeg risk

    • bridge hack

  • USDT depeg risk

View more Stablecoin yields, here.

🧪 Ce/DeFi Stablecoin Strategy

Ce/DeFi Stablecoin Yield Farming Strategy


Balancer's GHO/Boosted Aave v3 USD pool (via Ethereum) is receiving heavy emissions 💸. The pool currently holds a TVL of $5.5M and is rewarding depositors with a 17%-37% vAPY! I don't expect these emissions to last forever, so in order to diversify your position you can swap your $BAL rewards to crvUSD and deposit in Conic's Omnipool for 17%. This also helps maintain the APY of your initial deposits in Balancer as your not contributing to diluting the GHO/Boosted Aave v3 USD pool further.

  1. Deposit $GHO into the GHO/Boosted Aave v3 USD pool on Balancer

  2. Swap $BAL rewards for $crvUSD on Uniswap

  3. Deposit $crvUSD into Omnipool on Conic Finance


  • Stablecoin depeg risk:

    • GHO

    • USDC

    • USDT

    • crvUSD

  • Smart contract risk from depositing funds in multiple protocols

📊 DeFi Vaults Stablecoin Dashboard

I've compiled my top picks for stablecoin vaults on each chain and compiled them into a neat dashboard with the help of @backtest_dummy (Blockchain data scientist).

The point of this dashboard is to provide you a quick overview of some of the best stablecoin yields on chain (Ethereum, Arbitrum, Optimism, Polygon, and Avalanche).

I am tracking the following metrics for each chain:

  • DEX volume

  • Stablecoin TVL

And the following metrics for each vault:

  • TVL

  • APY

Arbitrum Stablecoin Vaults Metrics

This dashboard tracks the following vaults:






I am planning on adding links to each of the vaults within the dashboard, adding new vaults and chains, and including some other cool features to enhance overall UX/UI. Happy farming 🌾 👻.

🐦 Last Week in Crypto Twitter (CT)

For those who didn’t see on my Twitter, this is a bearish opinion on Pendle that was very thought provoking to read:

Liquity V2 looks to be interesting. They’re targeting hedging with this upgrade.

GRAIN airdrop eligibility list is live! Depending on your size, it’s not very much. In addition, the liquidity is pretty thin at this time and a lot of airdrop farmers are looking to dump. So, what am I going to do? I’m going to drop it in an LP and yield off of it because by the time I claim, the token value is going to drop pretty quickly. We need to give GRAIN time to get some fundamentals in line before the returns are nice, so if you believe in them long term, selling this airdrop for Pennies isn’t really worth it:

Pendle will be deploying on Manyle, a newer alt L1 that has caught some buzz on CT:

Interesting news from Optimism, giving the community power over the SuperChain:


Frax is experimenting with RWAs and tbills, for V3 Launch:

Thanks for reading the Defi Vaults Newsletter! Subscribe for free to receive DeFi yields, and insights straight to your inbox, every week.

Defi Vaults logo
Subscribe to Defi Vaults and never miss a post.
  • Loading comments...