Original | Odaily (@OdailyChina）
Author | Azuma (@azuma_eth）
Previous Records
More Suitable Stablecoin Financial Strategy for Lazy People (February 24);
More Suitable Stablecoin Financial Strategy for Lazy People (March 3);
More Suitable Stablecoin Financial Strategy for Lazy People (March 10);
This column aims to cover relatively low-risk yield strategies primarily based on stablecoins (and their derivative tokens) in the current market, helping users looking to gradually expand their capital through stablecoin financial management find ideal income opportunities.
Basic Interest Rates
Odaily Note: Basic interest rates temporarily cover mainstream CEX single-coin financial management plans and mainstream DeFi lending, DEX LP, RWA and other deposit and market-making schemes.
This week's basic interest rates section mainly wants to highlight two points.
One is the CeFi side of Binanca LaunchPad/LaunchPool (including Binance Wallet new token launches). Binance has shown clear efforts recently, with Nillion (NIL) on LaunchPool last week and Bedrock (BR) on Wallet. Considering the current market sentiment has somewhat recovered, in an ideal scenario, the USDC pool of this LaunchPool is estimated to have an annual yield rate exceeding 15% (based on 10 billion FDV, as NIL is not yet online, specific data may fluctuate); Wallet new token launch rewards also exceeded 100 USDC. These are must-grab opportunities.
The other is still about Meteora. Last week, the Meteora team officially announced two governance proposals regarding the MET token.
The first governance proposal: Increase the token reward share for liquidity providers (LP) from 10% to 15% of total supply; additionally, provide 3% of total supply tokens to Launch Pools and Launch Pads participants.
The second governance proposal: Propose to allocate 20% of total supply tokens to the team, locked for 6 years; additionally, take out 2% from the team's share to distribute to M3M3 stakeholders.
Lost community trust can only be repaired with vision, and I'm inclined to believe in it once more. For specific strategies, consider the current FDUSD-USDC pool with FDUSD incentives (7.32% APY, simultaneously earning Meteora points).
Pendle Zone
First, let's discuss fixed income. Here's the real-time ranking of PT yield rates for major stablecoin pools in mainstream ecosystems (Ethereum mainnet, Base, Arbitrum, BNB Chain).
For LP, the most important event this week is that Ethena Season 3 has ended (airdrop query opens in the first week of April), but Ethena has simultaneously launched a 6-month Season 4 activity, with current incentive pools remaining unchanged. From a pure points efficiency perspective, consider the USDe pool expiring on July 31 (maximum 10.83% APY, 60x Ethena points boost) and the eUSDe pool expiring on May 29 (maximum 7.59% APY, 50x Ethena points boost and 1.6x Ethereal points boost).
Additionally, other LP pools to consider include the recently financed Level lvlUSD pool (to be discussed later) and the Astherus USDF pool (maximum 16.82% APY, 35x points boost) and asUSDF pool (maximum 13.19% APY, 25x points boost) that CZ interacted with on X over the weekend.
Always remember, the purpose of depositing in Pendle LP is "not just to earn yield, but to farm points", and the value of points depends on the project's potential, so look for projects with more narrative angles.
Other Opportunities
Continuing from the previously mentioned Level, the project recently completed a $2.6 million financing round led by Dragonfly and participated by Polychain.
Level has now opened its points program, where holding, staking (6.86%), and market-making on platforms like Pendle (lvlUSD pool with maximum 13.79% APY, 40x points boost) can accumulate points. As of this writing, the total user count is only 12,438 - excellent investors, low competition, with initial potential for a big opportunity.
Another project to watch is Perena, founded by Anna Yuan, former stablecoin head at Solana Foundation (pool invitation code: GRLJKL), which opened a new season (Pre-Season) points activity last week. Currently, there are three main ways to accumulate points (Petals):
Trading (limited to 5 transactions per day): Not recommended to deliberately farm, just use normally;
Protocol LP, with different boosts based on deposit duration (maximum 3x, requiring 60 days), with relatively low LP yield;
RateX and Exponent LP, can be understood as Solana's version of Pendle, with relatively higher LP yield, boost currently unclear.
Personally, I would recommend the third path, as RateX and Exponent also have some airdrop expectations.
Lastly, Backpack also launched its points program last week. For those with daily stablecoin exchange needs, you can use this channel in addition to Perena. Those willing to try hedging strategies can consider using SOL to participate in Meteora's JITOSOL-SOL pool (9.64%) or Fragmetric staking (8.05%), while simultaneously shorting SOL on Backpack to maintain a certain yield rate while scoring on multiple platforms.
