Key driver: A huge part of sUSDe PT Loops moved from mainnet to Plasma.
• Demand for borrowing USDT drops on Mainnet -> USDT Supply Rate Drops to 1.81%
• Demand for borrowing USDT increases on Plasma -> USDT Supply rate at 3.5%

Why is Aave APY so low these days?
I get 2.75% risk-free on USD in my bank account.
But only 1.91% on USDT for lending on Aave.
Crypto is doomed

wale.moca 

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