I always try to keep an open mind towards what is happening on other blockchain. Even though Hive is the backbone of my crypto operations, I like to see what happens in other places as well.
One of the things that I like about hive is the 15% APR on HBD savings. It's a great income source but since I understand how hive works, I have to admit that this APR is paid by inflating the tokens in circulation. In my opinion there can come a time when this APR has to go down if the price of hive depreciates too much or when we reach the haircut level at which we could see HBD depeg from USD. Since, I'm quite heavily invested in HBD, I'd like to have other options to get a return on a stable coin. That was the reason that pushed me to explore in this direction.
I would like to present three platforms that I have found where it's possible to get similar returns for stable coins. These platforms are not without risks and I would suggest that you do your due research before investing anything into them.
Potential airdrops
What these platforms all have in common is that in addition to get a return on stable coins, you can actually collect points for future airdrops. The more money you invest and the more active you are, the more airdrop points you will be able to collect. However, in all honesty, I have no idea how much it will be possible to earn from these airdrops. I consider them as a nice little additional incentive.
Kamino lending
Among many other things Kamino is a platform on Solana that allows you to lend your coins and to get a return on it. The returns that you get are dynamic and might change daily or hourly. At the moment of taking the screenshot, you can get up to 13.65% on some stable coins.
Nx Finance
This is a much smaller platform on Solana that allows you to lend tokens and get a dynamic return. The platform has some multiplier projects where the collecting lending fees that they pay to the people lending their tokens. At the moment of taking this screenshot, APR on USDC was at 15.98%. The returns are quite volatile and change frequently according to how much money is required by the multiplier products.
There is a referral system for the coming airdrop. The interesting part is that the referrals team up and their collective investment can increase the team points for the airdrop. If you want to join us, you can use this link.
Suilend
This platform is on SUI and is similar to Kamino. Suilend offers many different products. You can lend and borrow tokens and get a return. When I took this screenshot, you could get up to 17.88% on a stable coin.
What differentiates these platforms from the the savings account of HBD, is that the return on the tokens comes from a defi business model. People can leverage their positions by borrowing tokens and for that they pay a fee that then goes to the people providing the tokens. In my opinion it can be a sustainable solution for a nice return.
Please keep in mind that I share here my own findings and that what I say in no way financial advice.
With @ph1102, I'm running the @liotes project.
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