There is a new Stablecoin Airdrop on Solana (quick tl;dr)
@reflectmoney protocol backed by @a16zcrypto, raised $3.74M with USDC+ stablecoin APY 6% right now
Using 10k USDC to mint USDC+ will get you only, 9879 USDC+
The yield comes from Cross Margin (Lending), the protocol invests that USDC into other high-liquidity lending protocol and margin markets to earn interest
Currently, they're using Drift for it, and USDC+ grows in value relative to USDC
Stats they have right now:
> 4844 users
> $10M deposit cap
> $37k in distributed yield
> $8.3M minted UDC+
The USDC+ product has only 1 audit completed, then next product USDJ (Delta-Neutral Funding Rate Capture) is not live yet
By minting, swapping, holding you receive Reflect points every day that would be converted into tokens
The cool new features is "Insurance yeild" where you can protect you stables from strategy losses and earn yield from protocol fees
In short: Would I use it? Probably no for now, but when insurance yield from protocol fees will go live, I wanna try it
8.65K
91
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.