Best and Riskiest Stablecoin Yields Aug 2022

These days I’m keeping a healthy balance between volatile pools and pure play stablecoin farms. This can be pretty tough considering stable yields are shit atm. We don’t let a few bad apples ruin things for us. To help mitigate risk, I’ve been diversifying my holdings among several farms, leveraging []( ‘s discovery tool: The safe plays:

1. Liquity LUSD farm. Solid yields in the last 30d and the farm is rated an A in risk according to Exponential (they consider multiple factors from code quality to audits, etc). This seems really attractive as LUSD is a stablecoin and yield is all coming from protocol revenue instead of the classic liquidity mining
2. Uniswap sUSD-USDC pool: I have noticed that with all the buzz around atomic swaps and Synthetix, a lot of sUSD pools have been paying high single-digit APYs lately. Since sUSD is overcollateralized I like this for a temporary play, as sUSD sees more volume when ETH is volatile
3. Aave sUSD lending: same rationale as above

The calculated risks:

1. VVS USDT-USDC pool: this is on Cronos (by crypto dot com). Im not to familiar with VVS but seems like bridging is a bit of a pain since you need a crypto dot com account IIRC
2. Convex Curve MIM pool: I used to be a fan of MIM but it mostly trades below $1 so I always find slippage on the way in. However, letting the pool “age” for a few weeks this might be a solid option. Main con is that you have to manually claim Convex rewards so the position has to be sizable so that gas is offset by the rewards

The worst:

1. JustLend and Vires: JustLend is maxed out on the borrowing side so I assume people are buying USDD and borrowing against it heavily betting the coin will depeg so borrowers get the loan for cheap. USDD is definitely not overcollateralized as the Tron foundation claims. Vires and Waves ran a lot of shenanigans to get a curve pool approved so Im staying away of anything that stinks to UST episode 2.


[the safe plays](

[the calcualted risks](

[the worst](

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