Stephen | DeFi Dojo

The hurdle rate for stablecoin yield farmers working with 7 figures or below should be 20% APR. Anything below that and you're leaving money on the table. So, I will not include anything that I don't think has SOME level of scalability nor anything under my 20% hurdle.

Let's begin, There's a reason @pendle_fi has 5.5 BILLION dollars of TVL. Fixed Rate / Fixed Date between 20% and 24% with over $135M in liquidity between these options. Simple as buying the PT and holding until expiry. But let's talk leverage👇

Some PTs are composable. PTs on @eulerfinance ► PT-wstUSR (Spectra): 77% APR ► PT-USDe: 62% APR ► PT-sUSDe: 62% APR These are enabled both by the Yield King Pendle and also @spectra_finance.

Euler is great because it has automated leverage. However, some protocols don't have this feature. This is where @Contango_xyz shines. Contango lets you to tap into the deep liquidity of protocols like @MorphoLabs to auto-leverage PT yields. ► PTsUSDe: 81% ► PTUSDe: 68%

But not everyone likes leverage. For that, we have stability pool LPs. First, @protocol_fx. APR: 24%-27% 26% on @ConvexFinance Here, you're earning wstETH fees from leverage traders while also earning FXN (boosted on Convex)

Then there's @LiquityProtocol They recently launched V2 and their new stablecoin $BOLD which has multiple stability pool APRs ranging between 15% and 32%. BUT, you should also know that they made V2 to be forked. And this gets really interesting...👇

There are ~20 Liquity V2 forks coming, each planning to airdrop 2-10% FDV to BOLD users I'm assuming the average FDV of a fork will be ~$15M (there will be one HyperLiquid, Berachain, Sonic, etc) This is speculative, but safe to say Forks should add a big boost to BOLD farming

My baby, $RLP Sure, this isn't a stablecoin exactly (it's a stablecoin Jr Tranche). But I love it because of the yield. It has a 7Day APR of 26% & is based on the same sort of basis strategy as Ethena. It's also easily leverageable on @eulerfinance for >70% APR (plus points)

One for the lazies, @ether_fi has a stablecoin vault getting 30% consistently, managed by UltraYield, that requires zero maintenance. It also gets EtherFi & @veda_labs points. To see the underlying strategies, check out the vault's debank: https://debank.com/profile/0xb...

We do a little OOGA BOOGA, Currently the vast majority of Boyco TVL is in Bucket 1. If you have no idea what I'm talking about, read this first: https://x.com/phtevenstrong/st... That means MAJORS might see some insane relative APRs. $HONEY and $USDC are some majors to consider.

🐻Currently Majors TVL is $160M⛓️ If we assume this DOUBLES (in the next three days before deposits close), we're still looking at an average additional APR of 57% to 239%. Note: this depends on where Berachain's FDV is when Boyco ends.

Here are some Majors Stable opportunities for Boyco: ► @origami_fi USDC ► @Dolomite_io USDC / HONEY ► @KodiakFi USDC<>HONEY ► @D2_Finance USDC Vault NOW, please note that this can get crazy diluted at the last moment on Sunday, some are expecting this, AND there's a lock.

Speaking of @berachain, there's also @reservoir_xyz's Hybrid rUSD<>HONEY vault. This gets 3x Reservoir points & 2.69X Bucket 1 Boyco points. Reservoir will have a 10% Airdrop around 20B points. ► At 100M FDV, that's +83% for 3x ► Boyco ought be another 17% Total: 100%+ IMO

NOW, My friend @OG_RogerTennis has also looked at Reservoir numbers and thinks the srUSD looping on @MorphoLabs could get as high as 500% APR: https://x.com/OG_RogerTennis/s... My own numbers are actually rather absurd, so I'll default to his hear. Give it a read.

For @SonicLabs Maxxis, RINGS Sonic's having an airdrop, and we know most of the details: ► 200M S over 1Yr ► First Airdrop is 6mo (July) ► First Airdrop 50-60% of total ►25% Immediately liquid ► 75% Vested through NFT @Rings_Protocol is the best stablecoin play here.

The most straightforward way to play this is @spectra_finance (Pendle soon). You can LP scUSD for 25.5% APR PLUS • 12x Sonic points • 2x Rings Points • 3x Veda Points

If you aren't interested in points, you can just snag 28% fixed rate / fixed date all the way until June by buying the PT:

It should also be mentioned that @GearboxProtocol still has insane yields on the Sky Rewards Rate and the Sky Savings Rate. The average APRs over the last month have been >50% and are currently both sitting at >75% Granted, there's only about $400K of GHO to borrow.

This should count: @ether_fi🤝@bitgetglobal : 90% APR ► Mint weETH (500K ETHFI Incentives) +24% ► Deposit into Bitget (1,000K ETHFI Incentives) +36% ► Use weETH as Margin to short ETH Value (+30%) Total: 90% Delta Neutral Read More: https://x.com/phtevenstrong/st...

THAT'S IT FOR NOW Ambassadorships: ► Contango ► EtherFi ► Gearbox ► Euler ► Pendle ► Reservoir ► Sonic ► F(X) If you think you can top any of my yields (with strategies that can handle >$1M) please show me up in the comments below.