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Because they provide nice yield. I can stake USDT on most exchanges and get 5-7% APY. I doubt those yields will hold for much longer though.
by hestefisk 4y ago
Because they provide nice yield. I can stake USDT on most exchanges and get 5-7% APY. I doubt those yields will hold for much longer though.
- TekMol 4y agoWhich exchange pays you those 5-7% and why do they do that?
- whimsicalism 4y agoI don't know about 5-7% but you can get paid by uniswap for providing liquidity to speculators.
- xmcqdpt2 4y agoThere is even better rates available. The Anchor protocol pays 20% APR! And the principal is protected as described in the white paper, > Anchor offers a principal-protected stablecoin savings product that pays depositors a stable interest rate. It achieves this by stabilizing the deposit interest rate with block rewards accruing to assets that are used to borrow stablecoins. source: https://www.anchorprotocol.com/docs/anchor-v1.1.pdf https://www.anchorprotocol.com/docs/anchor-v1.1.pdf You literally cannot lose! And the gains are in a stablecoin (UST) so you don't even have to deal with the volitality of crypto https://www.coindesk.com/price/terrausd/ https://www.coindesk.com/price/terrausd/ Tradfi doesn't offer these kind of risk-free rates because they are greedy vampires, unlike your friendly smart defi devs.
- civilized 4y ago> You literally cannot lose! And the gains are in a stablecoin (UST) so you don't even have to deal with the volitality of crypto ...who wants to tell him? https://fortune.com/2022/05/19/luna-terrausd-ust-algorithmic-stablecoins-doomed/ https://fortune.com/2022/05/19/luna-terrausd-ust-algorithmic...
- thallium205 4y agoUhmmmm lmao have you not seen the algorithmic stable coins getting smoked recently?
- TekMol 4y agoIs this satire? I'm 50/50 about it.
- xmcqdpt2 4y agoIt is satire. I thought putting in a link to the UST price chart would make it clear...