Original | Odaily Planet Daily (@OdailyChina)
Author | Azuma (@azuma_eth)
This column aims to cover low-risk yield strategies primarily based on stablecoins (and their derivative tokens) in the current market (Odaily Note: code risks can never be completely eliminated), to help users who wish to gradually increase their capital through U-based financial management find more ideal earning opportunities.
Past Records
Lazy Investment Strategy | Huma 2.0 Reopens; BounceBit Launches USD1 Incentive Activity (June 9);
Old Mine Follow-up
Upshift Season 2 Launch
The stablecoin yield protocol Upshift under August has recently opened its second season of points activities. The feature of the second season is that a special task will be launched every Monday, allowing users to deposit the designated stablecoin for higher yield rates and point accumulation.
This week, Upshift has announced the first special task of the second season, with the designated stablecoin being cUSDO issued by another project we have recommended, OpenEden. Currently, depositing cUSDO in the Upshift protocol can earn a real-time APY of 9.5%, plus 10 times Upshift points and 12 times OpenEden points.
Falcon Retrospective on Pendle YT and LP Points (Controversial)
DWF Labs' stablecoin project Falcon Finance (USDf) announced the day before yesterday that it will retrospectively award points for YT and LP on Pendle, with a retrospective points multiplier of 36 times. This means that users who previously engaged in "blind mining" using Pendle will have a higher points accumulation rate compared to users who simply held USDf (6 times), and this points rate advantage is likely to continue.
It is worth mentioning that USDf faced concentrated FUD yesterday, with the main focus of the doubts surrounding its reserve situation and sources of yield. In response, Falcon disclosed an audit report conducted in collaboration with Harris & Trotter, and DWF Labs' executive partner Andrei Grachev provided further explanations.
Among USDf's reserve assets, stablecoins and BTC account for about 89% (approximately $565 million), while altcoins account for about 11% (approximately $67.5 million). The reserve assets have been audited, and the current over-collateralization rate is 116%.
Regarding yield, the composition of protocol revenue is as follows: basis trading revenue accounts for 44%, arbitrage trading revenue accounts for 34%, and staking revenue accounts for 22%.
Due to the FUD, USDf briefly depegged yesterday, dropping to a low of $0.8799, but has gradually recovered to $0.9946 following the official response. Users can decide whether to continue participating based on their risk preferences.
New Opportunities
Perena Vault Opens Applications
The stablecoin project Perena, founded by former Solana Foundation stablecoin business head Anna Yuan, announced this morning that it has opened whitelist applications for Perena Vault. Perena Vault is the core yield generation tool of Perena, aimed at effectively allocating stable assets within the Perena ecosystem (such as USDC, USDT, PYUSD, etc.) through automated strategy-driven methods to generate yield.
Currently, users have the opportunity to obtain a whitelist by interacting with Perena on X. Interested users can try to engage for a whitelist.
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