New Opportunities in Stablecoin Mining: Various Plans Offer Annual Returns of Up to 70%

With the market recovering and volatility increasing, the demand for stablecoins is rising. In the DeFi space, the opportunities to earn income through liquidity Mining have also increased. This article has compiled several ways for readers to achieve high returns through stablecoin Mining, with annualized returns of up to 70%. The following data is as of November 23.

Maverick Platform

The GHO-USDC trading pair offers an annualized return rate (APR) of 70.4%. Maverick is a decentralized exchange supported by several well-known institutions. GHO is a stablecoin issued by over-collateralized positions on the Aave platform.

Due to the lack of application scenarios for GHO, its price has remained below 1 dollar for a long time. To address this, Aave has launched a series of measures to stimulate the liquidity of GHO, aiming to bring the price back to the 1 dollar level.

The GHO-USDC pool on the Maverick platform on Ethereum operates in static mode, with a liquidity of $2.6 million. The pool distributes 5,000 GHO daily as incentives, with a mining APR of 67.11%, plus a 3.29% trading fee, bringing the total APR to 70.4%.

In addition, Maverick also offers a bidirectional GHO-USDC pool, with liquidity fluctuating alongside the GHO price. The liquidity of this pool is $1.04 million, with a total APR of 66.54%, of which the Mining APR is 47.89% and the trading fee APR is 18.65%.

Velodrome Platform

The USDV/USDC trading pair offers an APR of 32.35%. Velodrome is one of the main DEXs on the Optimism chain. USDV is a unique stablecoin, and its underlying asset is STBT, which is issued by Matrixdock through a special purpose vehicle structure based on U.S. Treasury bonds.

USDV uses a color tracking algorithm to assign a unique "color" to each stablecoin, allocating profits to the mint issuer by tracking the minting volume and total supply of various colored tokens. Regular holders cannot directly obtain the underlying asset profits and need to verify that the mint issuer incentivizes the use case.

The USDV/USDC trading pair on Velodrome has a liquidity of $1.66 million, with an APR of 32.35%.

Canto Platform

The cNOTE/USDC trading pair offers an APR of 22.43%. Canto is transforming into a blockchain solution customized for physical assets, and cNOTE has emerged in this context.

NOTE is the accounting unit of Canto, minted through over-collateralization of USDC and USDT. Users can provide NOTE deposits to the Canto lending market to obtain cNOTE. Due to the existence of deposit interest, the exchange rate of cNOTE relative to NOTE will gradually increase.

Currently, the liquidity of the cNOTE/USDC trading pair on Canto is $4.41 million, with an APR of 22.42%. Investors can directly purchase NOTE and deposit to obtain cNOTE, or collateralize USDC or USDT to mint NOTE themselves.

Cetus Platform

The USDT/USDC trading pair offers an APR of 20.49%. Cetus is the main DEX on the Sui public chain. Here, USDT and USDC are cross-chain from Ethereum via Wormhole.

This trading pair has a liquidity of 39.23 million USD on Cetus. It is worth noting that Cetus supports concentrated liquidity, with most liquidity providers concentrating their funds within a narrower range to achieve higher returns. In the event of price fluctuations between USDC/USDT, it may be necessary to adjust strategies.

Thala Platform

The MOD/USDC trading pair offers an APR of 20.53%. Thala is the main DEX on the Aptos chain, providing a variety of DeFi products. MOD is an over-collateralized stablecoin in Thala, which can also be directly exchanged and redeemed for USDC through the anchoring stable module, incurring a fee of 0.25%.

The Thala MOD/USDC pool has a liquidity of $2.97 million, with an APR of 20.5%. It is important to note that the earned MOD rewards will be locked for one month before they can be unlocked.

Elixir Platform

The USCT/USDC trading pair offers an APR of 27.72%. Elixir Finance is a decentralized algorithm-driven market-making protocol that allows a wide range of participants to provide liquidity for various platforms through its trustless algorithmic model.

The current APR for the USDT/USDC spot trading pair on Elixir is 27.72%, with a liquidity of only $90,000. Of this, 15% is ARB rewards, which will not be significantly diluted by an increase in liquidity, while the remaining portion consists of locked VRTX rewards.

The project was previously funded with a valuation of 100 million USD and has not issued any coins yet; early usage may provide an opportunity for airdrops.

Convex Platform

The BUSD/3Crv trading pair offers an APR of 45.31%. Convex and Curve are well-known DeFi projects, and BUSD, DAI, USDT, USDC are all common stablecoins.

Investors can provide one or more of BUSD, DAI, USDT, or USDC as liquidity in Curve, and then stake the liquidity tokens in Convex to earn rewards. The liquidity for this trading pair is $236,000, with rewards primarily in CRV and a small amount of CVX and transaction fees. However, it should be noted that the deadline for Binance and Paxos to support BUSD is February 2024.