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.
Mirror Protocol
To hedge against a big crypto sell off I’ve started to cash out small amounts into LP positions on Mirror protocol. I’m heavily allocated to to the UST-mSLV pair for three reasons:
Less volatile vs crypto
Not strongly correlated
Triple digit APY for staking LP
The chart above is compares the cumulative returns between BTC and GOLD (very strong correlation to SILVER). By hedging with mSLV I’ll be able to keep my gains and have funds on the side in case we have a deep dip.
I’m also considering using my LINK deposit on Bitrue as collateral to take out a loan. Bitrue offers 5.3% APY on my stinky LINKIES with their Power Piggy program. Instead of earning a single digit yield, I’d rather take out a loan with a LTV of 50%. Convert the borrowed USDT into UST and deposit it onto the Mirror platform. Once I have UST on the platform I can exchange half for mSLV and provide liquidity to the pool. By staking my LP position I’ll be eligible for an APY of 138%.
I plan to outline the strategy above in a video format so make sure you guys turn on your notification bell. If you haven’t heard of the Mirror protocol, consider watching my video review.
Ruler
If you recall a couple weeks back I mentioned the Ruler protocol. This project provides users a venue to take out non-liquidatable loans. They just launched their liquidity mining program. If you deposit into the ETH-RULER pool you’ll be eligible to receive an APY of > 1600% paid in RULER.
Blockfi
LINK 5.5% APY
BUSD 8.6 %APY
Starting on 3/2 Blockfi users were able to deposit and start earning yield on LINK and BUSD. My dad took advantage of the opportunity to convert some of his BTC gains into LINK. I think it was a very smart idea for them to add BUSD. With all the gains being made on the Binance Smart Chain, I’m sure people will want to diversify their profits. If you’re interested in getting a Blockfi account make sure to check out my playlist.
Content Summary
1:10 Liquidity Loop
3:13 Success Metrics
6:30 VBNT Tutorial
9:09 Future Plans
11:16 BNTEE Shop
1:18 Tutorial & Updates
3:22 Initial Farm Offering
5:45 Closing Thoughts
2:40 The Retail Horde is Here
9:32 DEX Volume Will Continue to Rise
14:08 Token of the Week
Notable Tweets
