Lending Rate Update 🧮
Weekly lending rate updates on CeFi & DeFi platforms.
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Hi everyone,
Click here to 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.
Pools Fees and Hedging Against Impermanent Loss
Given how robust liquidity mining incentives can be, degens often forget about the pools fees. Every time someone trades in a pool you are provided liquidity to, you earn a portion of the fees. This is in addition to the liquidity mining incentives. For instance, I’m currently providing liquidity on ApeSwap. I’m earning an APR of 176%.
I’m earning this yield in BANANA tokens which I convert to BAT tokens every two days. In addition to this yield, I’ve also earned pool fees.
In the last 24 hours I and other liquidity providers shared $171.44 in collected fees.
Always check the analytics to see how much you’re collecting your fees. Sometimes pools can offer low liquidity mining incentives, but are generating triple digit yields in pool fees.
Moreover, to hedge against IL, I’ve been selling my yield farming rewards for BAT tokens. Cream recently started supporting BAT, so I’ve decided to use it as a piggy bank.
The yield at times has gotten as high as 35%. Originally I had most my BAT on Crypto.com (CDC) earning 5%. I’ve already made more in a week than I would have in 6 months on CDC.
Bitrue
This rate adjustment took effect on 3/22. They’re planning to juice up the benefits for holding BTR tokens. As I’ve mentioned in the past, BTR is one of the few CeFi tokens yet to take off. They recently had a massive token burn and added BTR to BSC. To learn more about the tokenomics, consider watch my video below.
MIR on Beefy Finance
Beefy is a protocol on BSC which auto-compounds the yield generated by your LP position. They recently added support for the MIR-UST pair on Pancakeswap. If you have your LP position on Mirror and you’re interested in auto-compounding, make sure to check out app.beefy.finance. You can use the Terra Bridge to send your assets from the Terra Network to BSC.
Alpaca
New farming pools were just added to Alpaca. You can easily get triple digit yield on your stables.
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