Hello HODLers,
Today I am just going to give you some options to park your Stablecoins on Binance Smart Chain and ear juicy returns.
All of these options are blue chip DeFi projects but as usual there are some risks involved so be aware of these.
Venus Protocol
Venus Protocol has been live as long as Binance Smart Chain.
It now has more than 4.4bn TVL. This is mostly a lending platform for your coins including your stablecoins.
The yield is decent and you can borrow coins against your deposits.
The current APY are the following.
Belt.fi
Despite having suffered hacks a while ago, the platform is still operating and has learned from it.
It now has a TVL close to 1.5bn making it a solid Top 10 project on the BSC.
Vaults
They have the same way to work as vaults on Venus.io and are single assets that you exchange against 1belt equivalent that is yielding the listed APY.
LP Staking
Belt.fi has 2 options for Stablecoins LP Staking
1. Option 1
The most used is the one below. This is the one used on Cubdefi.com to join the Belt USD Kingdom.
So you could add your stablecoins here, open a position and then add it to the CUB Kingdoms to get that extra 7% APY Yield.
2. Option 2
Another new option with quite a small TVL at the moment ($0.7mn) is the Venus Belt LP Staking
It is promising a c.47% APY on stablecoins. Quite good right?
This APY will probably come down as more TVL is added, but it is good while it lasts.
So if you have been profit taking on the current way up, maybe you should park some of these Stablecoins and generate passive income before maybe buying the DIP again.
More ways to earn from stablecoins on BSC in tomorrow's episode. We will step up our game with leveraged stablecoin farming. Excited right?
Stay safe out there!
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