Today, I checked out @stbl_official's Stablecoin 2.0 model. It actually seems pretty practical. The yield from holding STBL's stablecoin AmericaT isn’t like the auto-compounding yield you get from holding @Lombard_Finance's LBTC. Instead, STBL separates the liquidity and yield of AmericaT into two parts: AmericaT + YLD (The Yield Claim). This YLD is an NFT, and every time AmericaT is minted, a corresponding YLD is also minted. You can think of YLD as the right to claim the yield generated by the underlying collateral. STBL previously announced that AmericaT will be listed on some DEXs and CEXs in the future. This means you can freely use AmericaT for collateral, borrowing, and other DeFi activities, while still holding YLD to earn interest. Then I thought of a strategy—no-leverage compounding (looped lending). AmericaT can be minted using USDY and OUSG (stablecoins). Once AmericaT is accepted as collateral, we can use AmericaT to borrow USDT/USDC or add it to liquidity pools, without touching the original yield stream. This way, YLD can keep earning interest while AmericaT can be used for other purposes. But this plan will have to wait until the STBL ecosystem develops further. For now, about 26M AmericaT has been minted, and the team hasn’t added liquidity pools on BSC yet. The project docs also mention that in the future, YLD could even be used as collateral for borrowing and other DeFi activities, which would open up even more possibilities. Looking forward to seeing how the STBL team develops this project!