Feels like taking a rollercoaster every day in the crypto market? How to earn decent mining profits in a safer way?
Today we are introducing to you stablecoin mining - stake your stablecoins into DeFi or DEX pools to earn their token rewards.
Advantages of Stablecoin Mining
Compared to non-stablecoin mining, you do not need to buy in a fluctuated token to stake and bear the staked tokens’ price fluctuation. Your principal will not get hurt even in a bearish market.
Your reward tokens are the DeFi/DEX’s utility tokens, so they might fluctuate in price. You can hold them while the price drops and sell out when the price rises to earn more. Very flexible.
How to Choose A Safer Platform to Enjoy Decent Stablecoin Mining Profits?
You need to check its on-chain data. Some important criteria you need to check are its TVL (Total Valued Lock), Deposit Volume, Trading Volume, Fees Earned. All these data reflect the operation situation of the DeFi/Dex protocol. Of course the larger the bigger. The same logic as a traditional financial institution like a bank.
We choose some good platforms with decent APY and under good operation status according to dapp.com’s data that you can earn profit through stablecoins staking.
Binance Smart Chain
PancakeSwap
You can put your Liquidity Pool (LP) tokens of UST-BUSD, USDC-BUSD, DAI-BUSD, VAI-BUSD, USDT-BUSD in PancakeSwap to farm $CAKE token rewards.
The highest APR is 27.05% for the VAI-BUSD farm.
PancakeSwap's TVL dramatically increased from $0.00 to $4.65B in the past 90 days.
Belt Finance
We’ve introduced Belt Finance’s stablecoin pool before.
You can stake your USDT, USDC, BUSD and DAI in Belt’s (v)USDT-(v)USDC-(v)BUSD-(v)DAI pool, and receive a total of 40.60% APR Venus BLP rewards, which combines Venus APR 4.98%, trading fee APR 2.59%, $BELT APR 33.02%.
You can also provide liquidity for Belt’s (v)USDT-(v)USDC-(v)BUSD-(v)DAI pool to get the LP tokens, then stake your LP token to farm BELT tokens. The current APR is 40.56%
Belt Finance's Dex Trading Volume sharply increased to ATH $156,779,966.164 on 18th Apr 2021.
Autofarm
Autofarm is a yield farming aggregator running on BINANCE Smart Chain. It aims at optimizing DeFi users’ yields as they interact with the other DApps in the DeFi space.
In Autofarm, you can deposit BUSD, USDT, USDC, iBUSD, iUSDT at one-stop into different protocols, and earn token rewards from Venus Protocol and BZX Protocol. The highest APY is 54.4% for iBUSD.
You can also stake a variety of stablecoin LP tokens, and farm more token rewards.
90d Vaults Fees Earned in Autofarm broke $1.90M with a 100.00% growth.
Ethereum
Aave Protocol
You can deposit your DAI, USDC, TUSD, USDT, sUSD, BUSD, and GUSD in Aave Protocol to earn $AAVE profits.
The highest APY is 9.81% for USDT.
90d Total Deposit Volume in Aave Protocol greatly increased by 94.43% to $11.55B.
Compound
You can supply your DAI, USDC and USDT to Compound and earn $COMP profits.
The highest APY is 5.09% for DAI.
There is $63.79B volume deposited in Compound in the past 90 days, with a dramatic increase of 132.63%.
Vesper Finance
You can stake your DAI or USDT in Vesper Finance pools to earn $VSP rewards.
The highest APY is 10.48% + 24.25% extra VSP boost of vUSDC pool.
Vesper Finance's TVL hit ATH on 29th Mar at $732,135,429.818.
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