Thread by @shivsakhuja

How to earn 35%+ on #stablecoins - a step-by-step guide 🪙 👇

#crypto #cryptocurrencies #yieldfarming #DeFi

1/ A few days ago, I wrote a step-by-step guide on how to earn 20% on $UST stablecoins using @anchor_protocol:

https://twitter.com/shivsakhuja/status/1467550237036187650?s=20

2/ You'll need to have a Fantom wallet set up in Metamask. Here's how you can set up a $FTM wallet 💰

docs.fantom.foundation/tutorials/set-…

3/ Next, you'll need funds in your $FTM wallet. Here's how you can bridge your funds over to the #Fantom network for cheap 🤑 👻

https://twitter.com/shivsakhuja/status/1467939603680149505?s=20

4/ Now, use SpookySwap (spookyswap.finance) to swap your tokens for the #stablecoin of your choice. Here are the current APYs:

- $DOLA - 37.94%
- $TUSD - 33.30%
- $FRAX - 28.97%
- $MIM - 19.61%
- $USDC - 13.11%
- $fUSDT - 12.33%

5/ Now go to app.beefy.finance/#/fantom 🐮

Filter Vault Type to "Single Assets".

Find the stablecoin of your choice, approve and deposit.

Let's say you chose $TUSD. You'll be given "mooScreamTUSD" tokens in exchange for your deposit, which can be redeemed for $TUSD at any time.

6/ @beefyfinance optimizes your yield by finding the best liquidity pools & yield farms, and auto-compounding your rewards to turn your APR into APY 🤑 🐄

It's a great product. On @beefyfinance, you can also earn:

- 9% on $BTC
- 12% on $LINK.
- 7.5% on $ETH
- 22% on $AVAX

7/ This is a relatively low-risk strategy. But it's #crypto so obviously there are still risks.

☢️ Some risks and caveats 👇

- These APY rates change constantly, so the rates tomorrow won't be the same as the rates today.

8/

- There's a reason you're getting higher rates on some Stablecoins vs others. $DOLA is not as tried and tested as $USDC.

There is a higher de-peg risk with newer stablecoins 💸

If you want something safer, stick with @anchor_protocol and $UST

https://twitter.com/shivsakhuja/status/1466384175921917953?s=20

9/ Since the rates change constantly, it's good to check up on them regularly and make sure it's still worth it to keep your funds in there.

Since the $FTM network fees are so low, and there's no fees for most of these vaults, it's very low-risk to move your funds around. 👻

10/ If you liked this thread, let me know what #DeFi strategy you'd like me to post about next. I'm planning to post about:

- How to snipe cheap $LUNA / $ETH using Kujira 🐳

- Terra Luna ecosystem projects 🌕

- Farming stocks using @mirror_protocol 📈

#wagmi apes 👩‍🌾