Stable Coin Yield Sheet
*Disclaimer - I did this up pretty quickly so lmk if you spot any inaccuracies*
Parameters
- Min $10m TVL
- Excluded protocols w inflated APY due to the xUSD / StreamDefi collapse : Morpho, Euler, Compound
- APY for Perps Vaults only calculated from 11/10 onwards
Thoughts
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@Lighter_xyz vaults seems the most attractive as they did 35% APY since 11/10. Good sized TVL and volume have been healthy as well.
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@pendle_fi is among the top as well but USDai might not fit the risk profiles of many farmers as its pretty experimental.
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@OrderlyNetwork is the surprise addition among the top as they are doing 19.5% on $22m TVL.
- Yield vaults like
@TradeNeutral and
@EtherFi have decent yield but many are avoiding vaults after the StreamFi incident.
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@HyperliquidX HLP APY is surprisingly low since 11/10 but i expect the numbers to rise overtime as HIP3 deployments start to kick in.
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@aave yield for USDe is pretty good because of the liquid leverage feature. I believe most risk adverse users would prefer using Aave over all the other protocols.
Im personally waiting for the Variational OLP public vaults to be deployed as I think they will have really good yields in the early days.
In the meantime, I will likely allocate my stables to Lighter, Aave and maybe Pendle PTs to diversify the risk.
Will be adding more protocols in periodically to the tracker.
Hopefully you find the sheet helpful in weathering out the market volatility.
Cheers.