[Weekly] Market Return on StableCoin-based Strategies(13 Dec 2021)

  • Risk Free Rate: 2.98%. Risk free rate, representing the safe yield from Compound, Aave and Curve, was lower than last week’s 3.29%. Market was turbulent over the last week and it affected the risk appetite in general. A selling price on the tokens marginally affected the rate as well.
  • Curve/Yearn/Convex: The Curve/Yearn Large-Cap Benchmark Rate is now 11%, marginally higer last week’s 10%, as the market was still in fear a major correction. The price of CVX played an important role on this.
  • Other Stablecoin Platforms: the yields vary from 6% ~ 28%, and averaged 14%, same as last week’s 14%. Frax Finance’s liquidity pool on Uniswap V3 (FRAX/DAI) continued to lead this category. Old platforms like mStable and Fei became better choices as newer platforms have declining prices of their tokens, affecting mining yields.
  • Other (non-USD stablecoin or non-Ethereum) platforms, aka Exotic Strategies: Exotic strategies are delivering 9% to 39% yield now. Mirror Protocol came back to top this week, with MIR price recovering steadily.
  • Uniswap/Alpha: Uniswap earnings were week last week, for half stablecoin, half ETH pairs. This is expected in a shaky market.
  • Binance Coin-Margined Funding Rate: funding rates were low, and BNB was negative in the down market.

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