Original author: Sanqing, Foresight News
When the market is down, cash is king.
Holding cash doesn't mean sitting idly by. Bitcoin is fluctuating wildly within a range, the altcoin season seems far off, and the profit/loss curve for futures positions is eroding near the zero line. Time costs are accumulating, opportunity costs are accumulating, and inflation is escalating. Holding cash and waiting is itself a form of hidden loss. Truly savvy investors have already withdrawn from high-risk speculation and moved to earn stablecoin interest, using returns to hedge against market noise and compounding to fill the gap while waiting.
Exchange
Binance U - Earn with Guaranteed Principal: Annualized return of approximately 10.13%, limited to 10,000 U tokens, daily interest payments, ends March 20th at 7:59 AM. U stands for United Stables, fully backed 1:1 by cash and audited reserves.
Binance USD1 Holding Airdrop: Hold USD1 and share 235 million WLFI tokens, distributed every Friday at 8:00 AM according to your balance, ending at 8:00 AM on March 20th. Margin/contract accounts enjoy a 1.2x bonus, with the first three distributions showing annualized returns of 6.82%, 6.99%, and 7.10%, respectively, and 8.18%, 8.39%, and 8.52% after the 1.2x bonus. For USD1 borrowed from other stablecoins, only 30% of the leveraged portion will be counted towards the eligible balance.
Bybit BYUSDT: Annualized return of 6.89%, limit of 100,000 USDT, interest paid daily after 8:00 AM. As eligible collateral for the UTA unified account, it supports revolving lending operations, with borrowing rates typically around 3%. BYUSDT is Bybit's platform-exclusive token, tokenizing the USDT balance pledged by users in their flexible investment accounts, pegged 1:1 to USDT. BYUSDT does not support on-chain transfers or withdrawals; it only circulates within the Bybit platform.
HTX U: 6% annualized return, limit of 5 million USDT, hourly compound interest, deposit and withdraw at any time.
Kraken USDG/USD Fiat Currency: 5.25% annualized return, limit 10 million USD. 1% deduction for direct holdings, no deduction for 30-day or 60-day lock-up, interest paid weekly on Sundays. USDG is a USD stablecoin issued by Paxos and regulated by the Monetary Authority of Singapore (MAS). It is backed by the Global Dollar Network alliance, which features the distribution of reserve investment returns to ecosystem partners to incentivize distribution and use. It has obtained EU MiCA compliance approval.
HTX USDE: 5% annualized return, limit of 100,000 USDT, hourly compound interest, deposit and withdraw at any time.
Kraken USDT/USDC: 5% annualized return, limit of 10 million USDT. 1% deduction for direct holding, 0.25% deduction for 30-day lock-up, no deduction for 60-day lock-up, interest paid weekly on Sundays.
On-chain wealth management
The following products differ from exchange activities in that funds are directly deposited into various protocols or platforms, and the risks associated with smart contracts at the protocol level are borne by the exchange.
Some product rewards are not entirely settled in stablecoins; the actual return, after conversion to USDT, may be lower than the advertised annualized return. Binance Wallet products can be found on the Binance Wallet - Discover - Wealth Management page.
Unitas USDu: 13.82% annualized return, settled in USDu, daily compounding, maximum redemption waiting period of 7 days, no current deadline. USDu is a decentralized yield-generating stablecoin issued by Unitas Labs, built on Solana, and uses a delta-neutral strategy to generate yield from the Jupiter Perps ecosystem.
Concrete USDT: Annualized return of 11.49%, with 7.99% in USDT and the remainder in protocol tokens. Stablecoins accrue interest daily, and tokens (TGE) are available for immediate redemption. Redemption has a maximum waiting period of 7 days, ending at 8:00 AM on April 2nd.
ZEROBASE USDT: 9% annualized return, USDT settlement, daily compounding, maximum redemption waiting time of 7 days, no end date currently.
USDD: 7.92% annualized, USDT (5%) and USDD are settled together, and the interest is reflected in the appreciation of sUSDD. Redemption is available immediately, and the deadline is 8:00 on April 10.
Grvt (USDT): Earn interest on your holdings and use it as trading margin. Annualized return is 5%~11%, with a limit of 100,000 USDT. Interest is paid every Tuesday. The 5% accrual is unlocked by completing 5 trades every 4 weeks. Inviting one valid friend adds an extra 6%, paid out every Tuesday with no end date. Grvt is a decentralized derivatives exchange founded in 2022, with total funding of $33 million. It plans to conduct TGE in June of this year.
Katana USDC: 6.82% annualized return, held in the Morpho protocol, with 1.22% in USDC and the remainder in KAT tokens. Stablecoins are automatically reinvested, and the token TGE is always in circulation. Instant redemption available, deadline is April 16th at 8:00 AM.
Bitway USDT: 12% annualized return, quantitative strategy, 7-day redemption waiting period, no current deadline. Bitway primarily offers market-neutral wealth management and quantitative strategies for stablecoins (USDT, USDC, U) through its Bitway Earn product. Founded by former Binance team members and backed by YZi Labs, TRON DAO, HTX Ventures, and others, totaling over $5 million, it completed its TGE in March of this year.
Bitway USDT/USDC: 5% annualized return, neutral strategy, 7-day redemption waiting period, no deadline. USDC can only be redeemed through Binance Wallet.
Pendle
Pendle is an interest rate separation protocol that separates the principal of an asset from its future returns for separate pricing and trading. Purchasing PT (principal tokens) locks in a fixed return, which is redeemed at par value upon maturity; purchasing YT (yield tokens) allows you to capture all the returns of the underlying asset before maturity, at which point the value becomes zero.
YT is essentially interest rate leverage. The lower the implied yield, the cheaper YT, and the higher the leverage ratio. However, it's important to note that many high APY positions on the platform are settled in points or protocol tokens, rather than stablecoins or mainstream cryptocurrencies; the actual return depends on the final market pricing of these assets.
USDG: Maturity May 28, 2026 (approximately 71 days), current actual APY 7.54%, implied yield 5.3%, YT leverage approximately 99 times, Long Yield APY approximately 442%.
sNUSD: Expiry date is June 4, 2026 (approximately 78 days). The current actual APY is 8.79%, the implied yield is 7.7%, the YT leverage is approximately 63 times, and the Long Yield APY is approximately 53.77%.
Note:
(1) Only some of the profit-generating activities were selected, and the entire market of stablecoin wealth management products was not covered;
(2) Data statistics are up to the morning of March 17. The latest data is subject to the real-time data of each platform.
(3) High annualized stablecoin interest products usually come with certain risks. Please do not equate high annualized returns with risk-free returns. This article is only for data compilation and does not constitute investment advice.
