I can't remember the last time I saw this much demand for a stablecoin
@USDai_Official and their stablecoin USDai has it's liquidity sitting on @CurveFinance
Interestingly, the pool is now 94% in USDC and only 6% in USDai. That's despite the caps opening up and filling to $160m literally just today and filling in 15 minutes.
Due to the buy pressure:
- USDai trades at a 3% premium at $1.03
- The curve pool has only got $260k of USDai left
It has also created another phenomenon - currently, the highest yielding PT asset on @pendle_fi with an almost 23% APY.
The most interesting strategy here of course is going to @eulerfinance and looping up via USDC to create a 50%+ APY stablecoin position.
Good luck trying to get your hands on some though, maybe we'll have better luck next week. If anyone wants to hook a brother up, you know where to find me 🤣
19.64K
76
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.