Don't want to endure the pain of decline anymore? Here is a guide to the appreciation of stablecoins across major mainstream chains

Author: Azuma, Odaily Planet Daily

The cryptocurrency market has once again faced a sharp decline today. Although Bitcoin's own drop has narrowed to less than 1%, the altcoin sector has experienced a collective plunge alongside BTC's short-term movements, with representative altcoins from different tracks such as SOL, PEPE, ORDI, ARB, and TIA recording declines of over 10% or even 20%.

While the current secondary market can be described as a "bloodbath," for ordinary investors, besides directly engaging in trading, there is actually another relatively slow but stable operational mode—utilizing major DeFi protocols to implement relatively low-risk, high-yield income strategies through stablecoins.

In the following text, Odaily Planet Daily will combine its operational experience to recommend multiple stablecoin income strategies available online. Although these strategies are quite simple in terms of operation, they generally achieve stable returns of 10% or even 20%, and some strategies can also interact with underlying networks or DeFi protocols that have not yet issued tokens, achieving "multiple benefits from one fish."

It is important to emphasize that no DeFi protocol can completely avoid contract risks, and some DeFi protocols may face certain liquidity risks, compositional risks, etc., due to their business models. Therefore, when choosing to execute a specific strategy, please be sure to understand the specific risks involved in advance, and try to avoid "putting all your eggs in one basket."

Ethereum Mainnet

Recommended Strategy 1: Ethena sUSDe

• Operation Method: Purchase USDe directly on the Ethena official website, then stake it to exchange for sUSDe;

• Real-time Yield: 17.5%;

• Yield Composition (types of reward tokens available): Appreciation of sUSDe (can be exchanged for more USDe);

• Other Potential Gains: ENA Phase II airdrop;

Note: Ethena's sUSDe is currently one of the highest APY opportunities in the stablecoin mining pools within the cryptocurrency market, far exceeding tokenized treasury products like MakerDAO's sDAI. The real-time APY of sUSDe may fluctuate with the market's leverage conditions, but based on past volatility records, it has remained stable at a high level. Additionally, through sUSDe, users can accumulate Ethena's Phase II airdrop voucher sats (accumulation efficiency is low, but the yield is stable), thus obtaining ENA's next airdrop.

Recommended Strategy 2: Gearbox Lending Deposit

• Operation Method: Deposit various types of stablecoins through Earn on the Gearbox official website;

• Real-time Yield: Generally greater than 10% except for USDT;

• Yield Composition: Primarily stablecoins, supplemented by a small amount of GEAR incentives;

Note: Gearbox, as a leveraged lending protocol, actually supports higher yield leveraged plays (Farm), but this operation has a certain operational threshold for ordinary users. Therefore, a relatively simple deposit play (Earn, essentially lending deposits) is recommended here. The reason for recommending this mining pool is that Gearbox's yield composition is primarily based on stablecoins, making its actual yield relatively more stable and avoiding significant reductions in actual yield due to the collapse of incentive tokens.

Solana

Recommended Strategy 1: marginfi and Kamino Lending Deposit

• Operation Method: Deposit USDT or USDC for yield on marginfi or Kamino;

• Real-time Yield: 12% - 16%;

• Yield Composition: Stablecoins;

• Other Potential Gains: marginfi airdrop and Kamino Phase II airdrop;

Note: marginfi and Kamino are the first and second lending protocols on Solana, respectively. Due to the active trading within the Solana ecosystem, the lending demand in this ecosystem is generally higher than in others, resulting in higher lending yields on marginfi and Kamino compared to other ecosystems. Additionally, marginfi has not yet undergone TGE, and Kamino's Phase II points activity is ongoing, both having certain potential airdrop incentive expectations.

Starknet

Recommended Strategy 1: Ekubo LP

• Operation Method: Use USDT and USDC to form trading pairs and participate in market making on the Ekubo official website;

• Real-time Yield: 26.69%;

• Yield Composition: Primarily STRK, supplemented by native market-making yields;

Note: Benefiting from Starknet's DeFi Spring incentive program, the current yields for participating in various DeFi protocols on Starknet are quite attractive. Among them, Ekubo, as the largest DEX protocol in terms of liquidity and trading volume within this ecosystem, is a good choice for balancing security and yield.

Recommended Strategy 2: zkLend and Nostra Market Making Deposit

• Operation Method: Deposit USDT or USDC for yield on zkLend and Nostra;

• Real-time Yield: Around 20%;

• Yield Composition: Primarily STRK, supplemented by native stablecoin yields;

Note: A basic lending protocol similar to marginfi and Kamino on Solana, but the yield composition is mainly driven by STRK incentives (similar to Ekubo). Users who are optimistic about STRK's future performance may consider participating.

Scroll

Recommended Strategy 1: DODO LP

• Operation Method: Use DAI, USDT, USDC, etc., to form trading pairs and participate in market making on the DODO official website;

• Real-time Yield: 12% - 15%;

• Yield Composition: Primarily DODO, supplemented by native stablecoin yields;

• Other Potential Gains: Scroll airdrop incentives;

Note: With various Layer 2s issuing tokens, the yet-to-be-issued Scroll has also gained more attention and liquidity. Among the various DeFi protocols on Scroll, DODO, as an established DEX, is relatively trustworthy in terms of security. Additionally, benefiting from DODO's own liquidity incentive program, its stablecoin trading pairs also exhibit high APY performance, making it recommended for users as a major platform for interacting with Scroll.

Aptos

Recommended Strategy 1: Echelon Lending Deposit

• Operation Method: Deposit various stablecoins for yield on Echelon;

• Real-time Yield: 11% - 17%;

• Yield Composition: Native stablecoin yields plus APT incentive yields;

• Other Potential Gains: Echelon airdrop yields;

Note: Echelon is currently the second-ranked lending protocol on Aptos by TVL, second only to Aries Markets. However, perhaps due to its inclusion in the Aptos incentive program, the current comprehensive APY of this platform is significantly higher than that of the latter. Additionally, Echelon has launched a points program, which also means that participating in this protocol currently has certain potential airdrop expectations.

Sui

Recommended Strategy 1: Cetus LP

• Operation Method: Use USDT, USDC, etc., to form trading pairs and participate in market making on Cetus;

• Real-time Yield: 16.28%;

• Yield Composition: Primarily SUI incentives, supplemented by CETUS and native stablecoin yields;

Note: The largest DEX protocol on Sui, with yields primarily sourced from ecological incentives provided by Sui.

Emphasizing Again, Pay Attention to Risks

The above are some of the stablecoin income strategies we currently recommend.

Due to risk control and replication difficulty considerations, the above strategies only cover some relatively simple DeFi operations, involving only basic staking, deposits, LP, etc. However, the potential yields obtainable are generally higher than passive financial income within exchanges. For users who are currently unsure how to operate in the secondary market and do not want their stablecoins to remain idle, the above strategies may be considered.

Finally, it is necessary to emphasize again that the DeFi world is a dark forest that is always accompanied by risks. Please be sure to understand the risks before operating, DYOR.