[Weekly] Market Return on StableCoin-based Strategies(11 July 2022)

  • Risk Free Rate: 0.67%. Risk free rate, representing the safe yield from Compound, Aave and Curve, was higher as last week’s 0.52%, as a result of the market rebounding. The market stabilized as no more unexpected bad news came out; but there was also no incentive to be aggressive.
  • Curve/Yearn/Convex: The Curve/Yearn Large-Cap Benchmark Rate is now 4.7%, higher than last week’s 4.4%. This is in line with a massive rebound of CRV and CVX prices. TVLs from most pools inched up a bit.
  • Other Stablecoin Platforms: the yields vary from 1% ~ 20%, and averaged 9%, slightly higher than last week’s 8%. Abracadabra’s MIM pool (with incentives from Convex, as a result of bribes) continued to lead this category this week. We have recently published a research paper on MIM to cover this protocol. D3 pool (alUSD, Fei and Frax) is delivering good yield too.
  • Other (non-USD stablecoin or non-Ethereum) platforms, aka Exotic Strategies: Exotic strategy yields’ are from 2% to 13% now. Euro and gold continued to decline but their yields came back a bit, as liquidity exited these pools. Overcollateralised stablecoins, MIM and MAI, are providing yields over 10%, probably the highest during this period of time.
  • Uniswap/Alpha: Uniswap earnings were weak last week, for half stablecoin, half ETH pairs, as trading volume did not pick up much despite market calmed down.
  • Binance Coin-Margined Funding Rate: funding rates were still all negative except for ETH, probably one of the safest places to park funds now.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Serenity Fund

The Serenity Fund

Zero market risk and stable return - risk neutralised cryptocurrency fund.