Stablecoin Yield Strategy Analysis: Diversified Choices and Risk Assessment

The current US dollar index is operating at a high level, and risk assets are generally under pressure. Holding dollar assets is undoubtedly a wise choice. It is worth noting that leading DeFi projects are also actively utilizing idle dollar assets to generate returns. Recently, MakerDAO passed an important proposal to transfer up to $1.6 billion in USDC to a certain custody service to obtain an annualized return of 1.5%.

Convex: USDD+3Crv Strategy

USDD is a stablecoin managed by a certain institution. As of October 27, the issuance of USDD is 725 million, with collateral valued at 2.23 billion, and a collateralization rate of over 300%. Among them, the amount of USDC collateral reaches 990 million, significantly exceeding the issuance of USDD, indicating a lower risk coefficient.

A trading platform has listed multiple USDD trading pairs and waived related fees, which has a positive impact on the development of USDD.

The Convex platform shows that the APR for the USDD+3Crv pool is 19.66%, and the APR for USDD+FRAXBP is 21.18%. When operating, users can first deposit supported stablecoins at the Curve entrance, and then stake the LP tokens on Convex.

In the ecosystem of the USDD issuer, USDD is more widely used. For example, the highest APY for the USDD-USDT trading pair on a certain platform can reach 41.9%, requiring the locking and staking of platform tokens (, while the deposit APY for USDD on another lending platform is 9.52%.

![stablecoin收益策略更新：USDD、Canto、Velodrome、Helio、Wombat])https://img-cdn.gateio.im/webp-social/moments-fd2ea20b9e357c2340ba90d31397414a.webp(

Canto:USDT+NOTE Strategy

Canto is an EVM-compatible DeFi public chain in the Cosmos ecosystem, featuring functions such as DEX, lending, and the stablecoin NOTE. According to data platforms, Canto's TVL is currently around 100 million USD.

Canto's lending platform shows that the APR for NOTE/USDT LP is 32.14% and the APR for NOTE/USDC LP is 29.47%. NOTE is the stablecoin minted in Canto through over-collateralization, and liquidation will not occur when the collateral is USDC and USDT.

Operation suggestion: You can use some USDT as collateral to mint NOTE, then use NOTE and the remaining USDT to provide liquidity, and finally stake the LP tokens on the lending platform.

It should be noted that Canto's cross-chain operations are relatively complex, and users should carefully assess.

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Velodrome:sUSD+LUSD Strategy

Velodrome is a DEX on Optimism, originating from a project by a well-known developer on Fantom. Currently, Velodrome's TVL is $82 million, surpassing some mainstream DEXs on Optimism.

sUSD and LUSD come from Synthetix and Liquity respectively, both are relatively safe stablecoins. Currently, the APR for the sUSD/LUSD trading pair liquidity mining in Velodrome is 16.12%.

![Stablecoin Yield Strategy Update: USDD, Canto, Velodrome, Helio, Wombat])https://img-cdn.gateio.im/webp-social/moments-8cab21490ff79e0a9672744a359692e3.webp(

Helio:HAY+BUSD Strategy

Helio Protocol is a liquidity staking and lending protocol on the BNB chain. Users can over-collateralize to borrow HAY stablecoin, and the staked BNB will be used for liquidity staking.

A certain mainstream DEX has added a StableSwap exchange entry for HAY and BUSD, indicating that HAY has a certain level of market recognition. Helio currently has a TVL of $92 million, with approximately $20 million being HAY/BUSD Stable LP.

Operation suggestion: Provide HAY/BUSD liquidity in DEX, then stake the LP tokens in Helio, current APR is 19.77%.

![Stablecoin Yield Strategy Update: USDD, Canto, Velodrome, Helio, Wombat])https://img-cdn.gateio.im/webp-social/moments-3188761d6843cd48b2defbb113a27a1c.webp(

Wombat Exchange Ecosystem Strategy

Wombat Exchange is a stablecoin exchange DEX on the BNB chain, featuring low slippage and shared liquidity. Its investors include several well-known institutions, closely related to a leading trading platform.

Currently, the median APRs for USDC, USDT, DAI, and BUSD in the Wombat main pool are 11.44%, 11.14%, 10.85%, and 7.57% respectively. ) includes lock-up acceleration (.

Applications similar to Convex have also emerged around Wombat, such as Wombex Finance and Magpie, where deposits can earn higher yields through these platforms. Wombex currently has a TVL of $89.49 million, with deposit APRs for USDC, USDT, DAI, and BUSD at 13.93%, 12.71%, 15.29%, and 17.16%, respectively. Magpie has a TVL of $25.90 million, with corresponding APRs of 11.62%, 11.82%, 14.52%, and 9.65%, respectively.

![Stablecoin Yield Strategy Update: USDD, Canto, Velodrome, Helio, Wombat])https://img-cdn.gateio.im/webp-social/moments-4c190981d5e6139f91f106bc7a27c450.webp(

Risk Warning

The overall risk of the cryptocurrency market is higher than that of traditional financial markets, with frequent security incidents. Investors should fully understand specific risk points, reasonably diversify investments, and make prudent decisions.