IN 34 DAYS, @0xCoinshift TGEs, airdropping 5% of their FDV.
As a result, people are feverishly farming csUSDL & csUSDC on @MorphoLabs.
Here's how these strategies work, and what you need to know before farming🧵👇
TL;DR
► 77% Organic Yield
► 330%(?) Total Vested Yield
THE BASICS
• csUSDL and csUSDC are wrapped @SteakhouseFi lending vaults on Morpho
• You can borrow USDC & USDL against them respectively
• USDL's backed by T-Bills, issued by Paxos (PYUSD, PAXG)
• 20% of the $SHIFT airdrop will be fully unlocked
• 80% will vest over 6mo
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