Manan
@manan
Is there a wrapped stablecoin that has mechanics similar to cbETH? i.e. the price in USD keeps increasing based on the interest earned / accrued by the underlying asset in custody. Effectively a "saved dollar" coin.
6 replies
2 recasts
15 reactions
Royal
@royalaid.eth
Everyone is gonna sell you their solution but the real answer is something based on 4626 (the vault standard) or just chuck it into Aave and get yield that way. The way most of these vaults work is through fractional yield tokens, so you deposit usdc and in return you get a fixed amount of token back. Over time the underlying token balance goes up and as a result your fractional share increases in value very slowly by holding the same amount of said token. This is how Beefy does it. This is how Aave does it. This is how I assume Morpho does it. If you have any specific questions or technical questions, happy to answer, been working adjacent to these kind of products and with these products for the last 5 years
2 replies
1 recast
2 reactions
veganbeef
@veganbeef
$USDS from spark.fi is basically that; I use it to earn interest on my USDC
1 reply
0 recast
2 reactions
rish
@rish
this is to save paying interest based taxes?
1 reply
0 recast
0 reaction
will
@w
that is how the 4626 aave wrapper in Teams works :)
1 reply
0 recast
2 reactions
0xOmen
@0x-omen.eth
SUSDS (Sky), sUSDe (Ethena), syrupUSDC (Maple), USDy (Ondo) to name a few DefiLlama and CoinGecko have more info on them and how they work as there are many different flavors
0 reply
0 recast
2 reactions
KobraD
@kobrad
Any interest bearing asset stablecoin will do. On Harvest we have our Base Autopilot USDC for instance. 8.3% APY currently. You can zap in / out with any token. There will be a mini app soonish (free alpha). https://app.harvest.finance/base/0x0d877Dc7C8Fa3aD980DfDb18B48eC9F8768359C4
0 reply
0 recast
1 reaction
