Lending Rate Update 🧮
Weekly lending rate updates on CeFi & DeFi platforms.
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Hi everyone,
Click hereto access the interest rate tracker. It’s been updated so you can see the best rates offered among the various lending platforms. Also, please consider signing up for new platforms with the referral links posted by the moderator. He updates and maintains the excel spread sheet. I’m sure he’d greatly appreciate it.
VenomDao
This is a cross-chain protocol launching on Harmony. Initially them aim to boostrap liquidity for their native automated market maker (AMM) called ViperSwap. ViperSwap is a Uniswap V2 type AMM with a token model similar to Bao Finance. Eventually, like SushiSwap they will add more products as they iterate.
Their platform token is VIPER and is designed to be a revenue generating governance token. The pool rewards are paid in VIPER with 5% immediately accessible and 95% locked. Unlike other AMM’s who only provide token holders with 1/6 of the revenue, 1/3 of the revenue will go to VIPER hodlers.
Recently the introduced BridgePools with reduced risk of impermanent loss. All these pools will be incentivized for 60 days. The current yields can be seen below. The only launched 5 days ago but the liquidity is very low. Very good chance yields will get diluted within a week. Unlike their other pools you can withdraw all your rewards immediately. No lock ups required.
Mercurial Finance
This is a liquidity platform for stablecoin assets on Solana. This will allow users to exchange between various stablecoin assets such as UST, USDT and USDC. Their dynamic vaults enable the following features:
low slippage
dynamic fees to improve liquidity provider (LP) profit
flexible allocation to external platforms to earn additional yield
Currently you can earn the following rates by providing liquidity. To transfer assets over from Ethereum and Terra you can use the wormhole bridge.
Blockfi
Looks like more states are joining New Jersey as it pursues a securities probe into Blocfki. I still have a small portion of my portfolio earning yield on Blockfi but the rest I sent over to Ledn. I largely did this to maximize my yield and partly to diversify my risk. To learn more about Ledn check out my playlist linked below.
Celsius
Luna was just added for an APY of 5.05%. This means you’ll miss out on airdrops and forfeit protocol fees to Celsius. Staking LUNA in your own wallet is the better option in my opinion. There’s a 21 day unbonding period if you decide to stake LUNA independently. Personally I’ve decided to borrow UST against my LUNA on the Anchor Protocol. I’ve been using my fat farming profits to buy more LUNA. Since I deployed this strategy I was able to pick up 1500 LUNA for free. However, the yield has been diluted significantly since I started. Watch the following video to learn more.
Alternatively, Saber is offering juicy yields for the pool displayed below. You can provide single sided liquidity and have virtually zero risk of impermanent loss. This protocol resides on Solana so you’ll have to use the Wormhole Bridge to transfer your LUNA over. First transfer LUNA over to Ethereum via the Terra Bridge. Next send your erc20 LUNA over to Solana with the Wormhole Bridge.
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