The market is sluggish, lazy U-based financial management recommendations

Original | Odaily Planet Daily

Author｜Azuma

It is really difficult to speculate in coins. Altcoins are falling continuously. PVP has been defeated repeatedly. Instead of continuing to be persistent, it is better to turn back.

As the difficulty of market operations soars, more and more users are turning their attention to more controllable opportunities to make money. In response to this demand, Odaily Planet Daily decided to open the "U-Basic Financial Management Strategy More Suitable for Lazy People", which will cover the relatively low risk of stablecoins (and their derivative tokens) in the current market (systemic) (systemic) Risks can never be ruled out) The income strategy aims to help users who want to gradually amplify the amount of funds through U-primary financial management to find more ideal opportunities for interest generation.

This column is temporarily updated on a weekly basis. If readers' feedback demand is high, relevant strategies for BTC, ETH, and SOL will be released in the later stage.

To talk about "hot" knowledge, in the past 20 years (October 15, 2004 to October 14, 2024), the average annualized rate of return of "Stock God" Buffett was about 10.96%, while in financial system and structure In the early cryptocurrency market, every ordinary person can break through this number "simplely".

Base interest rate (lowest efficiency)

The so-called basic interest rate is a single currency financial management plan that tentatively covers mainstream CEX, as well as DeFi deposit plans such as mainstream on-chain lending, DEX LP, and RWA.

CEX end

Binance : USDT single currency financial management (apy) is temporarily reported at 2.7%, with a 5% additional bonus within 0-500 USDT; USDT single currency financial management is temporarily reported at 1.89%, with a 7% additional bonus within 0-500 USDC;

OKX : USDT single currency financial management is temporarily reported by 2%; USDC single currency financial management is temporarily reported by 2%;

Bitget : USDT single currency financial management is temporarily reported at 4.12%, with an additional bonus of 8% within 0-500 USDT.

On-chain

• Ethereum

Aave: USDT 4.18%; USDC 4.27%; DAI 5.13%;

Fluid: USDT 9.43%; USDC 8.07%;

Ethena: sUSDe 9%;

Sky: sUSDS 8.75%;

• Solana

Kamino: USDT 4.72% %; USDC 6.53%; PYUSD 6.56%; USDS - USDC LP 11.24%;

margin.fi: USDT 5.69%; USDC 5.87%; PYUSD 6.41%;

• Base

Aave: USDC 5.04%;

Aerodrome: USDC - USDT LP 13.88%.

Pendle Zone (Core Strategy)

At present, if you want to amplify the yield of stablecoins, you can basically not avoid structured or leveraged products. Taking into account the security and liquidity conditions, Pendle is undoubtedly the most suitable dojo.

As shown in the figure above, the PT returns of multiple stablecoins above Pendle can reach 15% or even higher, significantly exceeding the industry's basic interest rate level.

The hottest pool recently is the eUSDe (Ethreal 's USDe deposit certificate) pool that expires on May 29. The current price is to buy PT directly, which corresponds to 17.9%, and the yield on the corresponding maturity date is about 4.56%.

You can also choose to go to the pool's LP (eUSDe - eUSDe PT). Although the corresponding rate of return will drop to 7.546% (with full PENDLE stake, it will increase to 9.09%), you can get an additional 1.6 times the Ethreal points bonus And 50 times the Ethena Sats Points bonus - early retreat will lead to impermanent losses, but the loss will gradually be smoothed out when the position expires.

In addition, the "old gold pool" sUSDe (Ethena, USDe after pledge) is still very popular. The current price of the pool expires on March 27th is directly bought PT corresponding to the apy of 14.8% (the maturity date sUSDe standard yield is 1.21%), and the current price of the pool expires on May 29th is directly bought PT corresponding to the apy of 13.49% (to The basic yield of sUSDe period is 3.44%), plus sUSDe itself 9% apy, the apy can exceed 20% by combining it.

Ecological incentives (opportunities and fluctuations coexist)

This part mainly covers the most popular ecology at present, especially those that are implementing incentive plans in various forms. The general feature of these ecology is that early paper yields are often extremely high, but the reward form is generally mainly ecological tokens or intra-ecological protocol tokens, and the final yield is linked to the coin price performance.

For example, Sonic, which is popular at the moment, takes Shadow, the mainstream DEX protocol of this ecosystem as an example. The apr of USDC.e -scUSD LP (note that this is apr, not apy) is temporarily reported by 38.2%, and USDC.e - USDT LP's apr It is as high as 57.3%.

However, the reward composition of such pools is mainly based on the incentives of xSHADOW and GEMS - it takes 6 months to destake 1:1 for xSHADOW; GEMS is Sonic's future airdrop certificate, but according to official disclosure, the first season of the first season is disclosed. The end will need to wait until around June 2025. Overall, although the income figure is attractive, there is still some uncertainty in the realization of incentives.

Another interesting ecosystem is Sui. Sui has recently opened incentive subsidies to some agreements within the ecosystem, resulting in a relatively rare phenomenon of inverting loan costs and incomes in loan agreements such as Scallop - that is, the additional incentive for borrowing funds is greater than the loan cost. As shown in the figure below, without taking the increase in pledge Boost, the lending incentives of SUI, sbETH, and sbUSDC in Scallop are all higher than the loan interest rate cost, which means that users can make profits in both directions through deposits and borrowing.

Blind digging opportunity (suggested "eat two fish")

This section mainly focuses on projects that have not yet TGE but have opened deposit channels. Due to the uncertain size of the future prize pool (airdrop) and the profit situation of this strategy is relatively large, it is recommended to invest in those that have a certain ability to generate interest, and at the same time, it can also take into account the "one fish, two eats" opportunities of airdrops.

For example, the Ethreal mentioned above, the community likes to call it Ethena's "own son". Currently, you can get the voucher token eUSDe by depositing it directly in Ethreal. However, this plan cannot generate interest, and the second is that there is no points acceleration. It is also recommended to be long-term. Deposit users (actually only three months) switch to Pendle LP.

Other opportunities that individuals are currently participating include 1) Symbiotic, mainly in the sUSDe form, which can accumulate points while eating 9% apy; 2) Soneium has just started, on the one hand, it hopes to earn the ASTR incentive that is about to start, and on the other hand On the one hand, it gained potential airdrops; 3) Berachian also saved some sUSDe through Concrete, but he regretted it a little. One is that there are more monks and fewer meats, and the other is that the exit is temporarily restricted; 4) Perena has also put some in the LP pool before, but recently, the apy has been relatively Low has withdrawn; 5) Others have also put some funds into the Meteora, including Meteora, but not limited to stablecoins.

Funding ratio

The risk of the crypto world lasts forever, so never put eggs in the same basket (although these baskets are often in the same car...). My personal current stablecoin configuration plan is as follows, for reference only.

There is still about 30% left in the base interest rate, there is a part in CEX, and a part in popular chains such as Solana, mainly to facilitate trading at any time;

Pendle is currently the main battlefield, with an investment scale of about 40%, but it will be distributed in different pools, and PT and LP will get some;

The ecology in incentives is relatively less than 10%. I personally have some prejudice against AC and Fantom’s past, so I am most likely not to have a heavy investment in Sonic;

About 20% of the blind digging of major projects are left, and the specific investment ratio depends on the project status (basic yield, team background, audit status) and personal preferences.

It may be adjusted again in the near future, and follow up in subsequent updates.