Welcome to another round of the ShapeShift Mixology series, where we shake up the DeFi world with strategies that are both refreshing and profitable. This time, we’re mixing two stablecoin strategies using Ethena’s synthetic assets, sUSDe and crvUSD. With these, you can lock in some impressive returns while keeping your portfolio steady as a rock.
So grab a glass (or a wallet), because the next step in optimizing your yield is here!
What is Ethena?
Ethena is a synthetic dollar protocol that offers a stable, on-chain currency mimicking the US dollar. It leverages the power of staked ETH and various DeFi strategies—such as perpetual and futures markets. The idea is simple: Ethena lets you participate in DeFi while enjoying the stability of a traditional stablecoin, but with higher yield potential. Think of it as the crypto-native stablecoin that keeps your investment growing, even when market volatility tries to shake things up.
What is Curve?
Curve Finance is one of the most popular decentralized exchanges (DEXs) and liquidity pools in DeFi. It’s designed to facilitate low-slippage stablecoin swaps by using a special algorithm that helps maintain price stability. Curve specializes in stablecoins (such as USDT, USDC, DAI, crvUSD, and more), which makes it an ideal platform for users looking to earn passive income with minimal risk. By providing liquidity to Curve’s pools, you can earn fees from traders swapping stablecoins and also receive additional rewards in the form of CRV tokens, Curve’s native token.
Now, let’s get into the two strategies we’ve whipped up for you. Whether you're more inclined to go the sDAI/sUSDe route or dive into the Curve pool with sUSDe/crvUSD, these stablecoin strategies offer impressive APYs and a path to earn more, without the risk of drastic price fluctuations.
Strategy 1: sDAI/sUSDe with 13% APY
Network: Mainnet
APY: 13%
TVL: $35.56 million
Bonus: Earn 30x Ethena points
Skip the CRV rewards and focus on a yield by farming points with the sDAI/sUSDe pair for 13% APY. What’s great about this strategy is that by simply joining the pool and holding your position, you’ll be earning 30x Ethena points—an added bonus that can significantly boost your overall rewards within the Ethena ecosystem. These points aren’t just a nice perk; they can be used to further optimize your returns and increase your exposure to Ethena’s growth. Once you’ve swapped your assets on ShapeShift keep track of your investment using Curve dashboard.
Strategy 2: sUSDe/crvUSD with 15% APY
Network: Mainnet
APY: 15%
TVL: $1.09 million
Bonus: Earn $CRV rewards
By pooling these two stablecoins in Curve’s liquidity pool, you’re able to earn a stable yield of 15%, which is a great return for a stablecoin strategy. But that’s not all—Curve also rewards liquidity providers with CRV tokens. These CRV tokens can be claimed as an additional bonus and held for future growth or reinvested into the strategy to amplify your returns. This strategy is ideal for those who want to take advantage of both high APY and the additional CRV rewards that come from participating in the Curve ecosystem. Once you’ve swapped your assets on ShapeShift keep track of your investment using Curve dashboard.
Why High APY on Stablecoins?
Stablecoins are usually known for their low volatility—making them a go-to option for those looking to keep their portfolio safe from market swings. But what if you could earn double-digit returns without exposing yourself to the risk of price fluctuations? That’s where strategies like sDAI/sUSDe and sUSDe/crvUSD come in. These stablecoin pools let you maximize yield while minimizing risk, allowing you to earn 13% or 15% APY on assets that are typically thought of as "boring".
How to Get Started
Ready to shake things up and start earning stable yields? It’s simple. Head over to app.shapeshift.com, connect your wallet, and start swapping your assets for sDAI/sUSDe or sUSDe/crvUSD.
For those new to the game, ShapeShift offers a straightforward way to buy crypto through the Buy/Sell Crypto tab. Once you’re set up, just visit the Trade/Bridge section, swap your assets for your chosen strategy, and have a good DeFi.
So there you have it—two tasty strategies that let you sip on some stablecoin yields while diving into the best of both Ethena and Curve. It’s time to enjoy those double-digit returns, one stablecoin at a time. Cheers!
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