Comprehensive Analysis of Stablecoin Returns in the Crypto Market: From USDT to US Treasury RWA Projects

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Crypto Market Stablecoin Yield Analysis

Recently, the crypto market has shown a lackluster performance, and conservative and stable returns have once again become a market demand. This article will analyze the current mainstream categories of stablecoins and their yield models.

Main Categories of Stablecoins

  • USDT: Widely applicable scenarios, users expect it to be "too big to fail"
  • Compliance 1:1 Anchor Stablecoin: Represented by USDC
  • Over-collateralized stablecoin: primarily DAI and USDS
  • Synthetic Asset Stablecoin: represented by USDe
  • US Treasury RWA project stablecoins: represented by USD0 and USDY
  • Algorithm stablecoin: Basically discredited after the collapse of Terra
  • Non-USD stablecoins: minimal impact, only present in payment scenarios

Stablecoin Yield Guide: Which of the 8 Types is the Best?

Main Stablecoin Yield Model

1. stablecoin lending

  • Cefi platform: Top exchange savings account
  • Defi protocols: Aave, Sky Protocol, etc.
  • Fixed-rate lending: like Pendle
  • Innovative models such as interest rate layering and leveraged lending

Lending is the primary revenue model for stablecoins, with income derived from the interest paid by borrowers.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

2. Liquidity Mining

With Curve as a representative, the yield comes from transaction fees and token rewards. It has high security but lower yield (0-2%).

Stablecoin Yield Guide: Which of the 8 Types is the Best?

3. Market Neutral Arbitrage

Mainly includes:

  • Funding Rate Arbitrage
  • Spot and futures arbitrage
  • Cross-exchange arbitrage

Ethena has moved funding rate arbitrage on-chain, allowing ordinary users to participate.

stablecoin收益指南:8种类型哪种最佳?

4. US Treasury RWA Project

Like Ondo's USDY and Usual's USD0, the yield is stable at around 4%. Usual's USD0++ provides liquidity solutions.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

5. Structured products for options

The strategy mainly involves "selling options to earn premiums," which is suitable for range-bound market conditions. The Shark Fin strategy launched by OKX and others provides principal protection.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

6. Tokenization of Returns

The Pendle protocol splits yield-bearing assets into PT and YT, providing various strategies such as fixed income and yield speculation.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

7. A basket of stablecoin yield products

Like Ether.Fi's Market-Neutral USD pool, it offers a variety of stablecoin yield product combinations.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

8. stablecoin staking

If the AO network accepts DAI staking to obtain AO coin rewards.

stablecoin收益指南:8种类型哪种最佳?

Understanding the sources of stablecoin yields and configuring them reasonably can respond to market risks on a stable basis.

Stablecoin Yield Guide: Which of the 8 Types is the Best?

Stablecoin Yield Guide: Which of the 8 Types is the Best?

Stablecoin Yield Guide: Which of the 8 Types is Best?

Stablecoin Yield Guide: Which of the 8 Types is the Best?

Stablecoin Yield Guide: Which of the 8 Types is Best?

RWA-10.94%
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MidnightMEVeatervip
· 2h ago
Good morning, I just finished the trap profit. Don't forget to calculate the Bots' cost of early exit.
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EyeOfTheTokenStormvip
· 07-24 07:45
Didn’t mention the settlement risk of USDD? Poor rating!
View OriginalReply0
Rugman_Walkingvip
· 07-24 07:45
Using stablecoin traps to make a little money is really nice.
View OriginalReply0
GateUser-74b10196vip
· 07-24 07:41
trap trap trap all lost money
View OriginalReply0
ContractExplorervip
· 07-24 07:34
Ah, this yield is too low.
View OriginalReply0
SchrodingerWalletvip
· 07-24 07:18
Profit profit ha, just means to lose.
View OriginalReply0
SatoshiSherpavip
· 07-24 07:18
Rise rise rise, why still study stablecoin?
View OriginalReply0
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