⚡️What’s new?⚡️
🏦 Stablecoin Vault Spotlight: MIM/USDC.e/USDT 8% APY
🧪 Yield Farming 101: 'Balancer Boosted Aave V3 USD' Yield Strategy
🐦 Last Week in Crypto Twitter (CT): New Ethereum Bitcoin Bridge, 0xMantle: the new L2 catching buzz on CT, Curve hack postmortem and more
🏦 MIM/USDC.e/USDT 9% APY!
We talked about the MIM/USDC.e/USDT vault on Beefy (via Arbitrum) last week while it was at 8.73%, and now it currently still sits at 8.63% APY.
It's TVL increased by $100k and the TVL now sits at ~$2.3M. It's also worth noting, this vault has remained above a 4.5% APY for 3 months and counting!
Note: USDC.e is a token representing USDC on Avalanche that was bridged from the Ethereum blockchain via the Avalanche Bridge.
📑 Liquid Staked Tokens
MATICx LP — 4.7% (StaderLabs)
mSOL —6% (Marinade.Finance)
sAVAX— 6% (BENQI)
frxETH— ~5% (Frax Finance)
ETH+ — 3.4% (Reserve Protocol)
📑 Stablecoin Yields List
Ethereum
$eUSD+FRAX/USDC - 10.25% APY (BeefyFinance)
$hyUSD/$eUSD - 10.25% APY (CurveFinance)
$MIM/$DAI/$USDC/$USDT - 10.3% APY (BeefyFinance)
$R-DAI - 9.9% APY (BeefyFinance)
$TUSD/$DAI/$USDC/$USDT - 11.13% APY (BeefyFinance)
$USDT - 6% APY (IronBank)
Polygon
$DAI (gDAI vault) - 4% APY (GainsNetwork)
$DAI/$USDR - APY N/A (BeefyFinance)
$jEUR/$PAR - 7.3% APY (BeefyFinance)
$MAI/$USDC - 1% APY (BeefyFinance)
Optimism
$USDC (hot tub) - 19.5% APY (Perp Protocol)
$jEUR/$agEUR - 5.7% APY (BeefyFinance)
$LUSD/$DAI - 5.5% APY (BeefyFinance)
$LUSD/$USDC - 6.3% APY (BeefyFinance)
$LUSD/$USDT - 9.37% APY (BeefyFinance)
$MAI/$USDC - 10.7% APY (BeefyFinance)
Avalanche
$MAI/$DAI$USDC/$USDT - 4% APY (BeefyFinance)
$MAI/ $USDC - 6.5% APY (BeefyFinance)
$MIM/$USDT - 16% APY (TraderJoe)
$USDT/ $USDC - 4.75% APY (BeefyFinance)
Arbitrum
$agEUR/$USDC.e - 3.30% APY (BeefyFinance)
$DAI - 10.38% APY (BeefyFinance)
$MAI/$USDC.e - 10.79% APY (BeefyFinance)
$MIM/$USDC.e/$USDT - 9.59% APY (BeefyFinance)
🧪 'Balancer Boosted Aave V3 USD' Yield Strategy
Strategy
The Balancer Boosted Aave V3 USD pool is a basket of the three most popular stablecoins (DAI, USDC, and USDC), and the pool is also receiving high ARB and BAL emissiions for stakers. You can direct your rewards to gDAI, and GLP to expand your portfolio into more stablecoins and bluechip assets.
Deposit USDC into the Balancer Boosted Aave V3 USD pool on Balancer
Swap $BAL rewards for DAI on Uniswap
a. Stake DAI for gDAI on Gains Network
Swap $ARB rewards for USDC on Uniswap
a. Buy $GLP on GMX
b. Stake GLP on GMX
Risks:
Stablecoin depeg risk
Smart contract risk
🐦 Last Week in Crypto Twitter (CT)
There is now a 2-way bridge between Ethereum and Bitcoin. Saying that this is huge is an understatement. Exchange of value between these two chains, which I believe will remain dominant, is going to be essential for larger players to get involved. Great development, cool innovation, and hopefully we can look forward to more to come!
This result could be very big news, and overnight revolutionize all of electronics and energy. It might not.
Here's a mental model for the non-expert to understand what's going on.
RTAPS: The good, the bad, and the ugly:
6,445
Dr. Doom’s trading threads of the week:
A new L2 is catching some buzz on CT and I have no idea what it is. Some decent alpha here about this early ecosystem. Intriguing enough to maybe get me on the computer to explore. Let’s get a short summary together:
There's a lot that makes @0xMantle stand out.
Everything you need to know in 5 minutes
Degen Sensei’s short and sweet summary of their current interests in this market:
$LBR
Omnichain lending
$RDNT
(TAP could break into here)
Perps/Derivatives
$GMX
$LVL
DEX
$GRAIL
( $JOE could make it)
Yield trading
$PENDLE (not new)
NFTfi (dark horse)
$PRTC
Cooked this up on a whim but will probably create a proper post that goes deeper into why…
Richard Heart gets sued by the SEC for the securities fraud HEX. Thank god his bad choice in clothing can be punished
Timebomb ticking for lots of other charlatans in this space.
Due to a bug in the Vyper code, multiple Curve pools were drained by a hacker on July 30th. Here is the post mortem:
Read more:
