New Opportunities for Stablecoin Mining: Multi-Chain Annual Yields Up to 70.4%

Recently, the market has warmed up and volatility has increased, leading to a rise in demand for stablecoins. At the same time, opportunities for Liquidity Mining in the DeFi sector have also increased. This article outlines several ways to earn returns through stablecoin Mining, with the highest Annual Percentage Rate reaching 70.4%. The following data is as of November 23.

The GHO-USDC trading pair on a certain decentralized exchange currently offers an Annual Percentage Rate of 70.4%(APR). Among them, GHO is a stablecoin issued by a certain lending platform. Due to the lack of application scenarios for GHO, its price has remained below 1 dollar for a long time. The platform has implemented a series of measures to incentivize the liquidity of GHO, in an effort to push the price back to the 1 dollar level.

On the Ethereum network, the GHO-USDC pool with the highest liquidity in this exchange operates in a static mode, with a total liquidity of about 2.6 million USD. 5,000 GHO is distributed daily to this pool as incentives, with a mining APR of 67.11%, and transaction fees generating an APR of 3.29%, totaling 70.4%.

In addition, the exchange also offers the GHO-USDC pool with a bi-directional model, where liquidity fluctuates with the price of GHO. The liquidity of this pool is approximately $1.04 million, with a total APR of 66.54%, of which the Mining APR is 47.89% and the trading fee contribution is 18.65%.

On the Optimism network, a leading decentralized exchange offers the USDV/USDC trading pair with an APR of 32.35%. USDV is a stablecoin based on tokenized U.S. Treasury bonds, utilizing a unique color tracking algorithm to allocate profits. This trading pair currently has a liquidity of 1.66 million dollars.

On the Canto network, the cNOTE/USDC trading pair offers an APR of 22.42%. cNOTE is the deposit token for the Canto lending market, and its exchange rate relative to NOTE will increase over time. The current liquidity of this trading pair is $4.41 million.

The USDT/USDC trading pair on a leading decentralized exchange on the Sui blockchain offers an APR of 20.49%. Here, USDT and USDC are transferred from Ethereum via a cross-chain bridge. This trading pair has a liquidity of $39.23 million, but it is important to note that it adopts a concentrated liquidity model, which may require adjusting strategies based on price fluctuations.

On the Aptos network, a leading decentralized exchange's MOD/USDC trading pair offers an APR of 20.5%. MOD is an over-collateralized stablecoin issued by the exchange. Currently, this pool has a liquidity of 2.97 million dollars, but it is important to note that the MOD rewards earned will take one month to unlock.

The USDT/USDC trading pair on a certain decentralized market-making protocol currently offers an APR of 27.72%. Although the liquidity is only $90,000, 15% of the rewards come from a certain public chain token, which will not be significantly diluted by an increase in liquidity.

Finally, on a well-known DeFi project, the BUSD/3Crv trading pair offers an APR of 45.31%. Users can provide one or more tokens from BUSD, DAI, USDT, USDC as liquidity, and then stake the liquidity tokens to earn rewards. However, it should be noted that support for BUSD will end in February 2024.

The above are some of the currently attractive stablecoin Mining opportunities. Investors can choose based on their own risk preferences and investment strategies. At the same time, it is important to closely monitor market changes and project progress, and adjust strategies in a timely manner.