Welcome to our ShapeShift Mixology series, where we’re mixing up some juicy opportunities in DeFi that are sure to quench your thirst for yield. This time, we’re introducing two new strategies featuring Ethena synthetic assets: USDe and sUSDe. With yields ranging from a refreshing 9% to a cocktail-worthy 13% in stablecoin APY, these strategies are the equivalent of a perfectly crafted drink—smooth, satisfying, and just what your portfolio ordered.
What is Ethena?
Ethena is a synthetic dollar protocol designed to provide a stable on-chain currency. By utilizing yields derived from staked ETH and the funding and basis spread from perpetual and futures markets, Ethena aims to create a viable crypto-native solution for stable money.
Understanding USDe and sUSDe
USDe is Ethena's primary synthetic dollar. It offers stability by reflecting the value of the US dollar while leveraging yield from staked ETH and other strategies.
sUSDe is the yield-bearing variant of USDe that not only retains its stable value but also generates additional yield through various DeFi strategies. Holding sUSDe allows users to earn rewards while maintaining exposure to the synthetic dollar's value.
The following strategies feature attractive yields above 9% APY in stablecoin strategies, highlighting potentially lucrative opportunities for investors.
Strategy 1: PT-USDe with 13.19% APY
Platform: Pendle Market
Fixed APY: 13.19% (at current rates)
Type: Stablecoin strategy
TVL: $765,262.47
Network: Mainnet
This strategy involves depositing sUSDe into the Pendle Market to earn a fixed 13.19% APY. After swapping, users can also track their positions on Pendle's dashboard, making it easy to monitor performance. Additionally, you can leverage Yield Token (YT) opportunities within the platform for even more yield potential.It's important to note that the Principal Token (PT) represents the principal portion of an underlying yield-bearing asset. Upon maturity, PT can be redeemed at a 1:1 ratio for the accounting asset, providing a secure pathway to your original investment.
Strategy 2: yPT-USDe with 9.75% APY
Platform: Yearn Vault
APY: 9.75%
Type: Pendle & Yearn mix
TVL: $768,052.88
Network: Arbitrum
In this strategy, users can combine their USDe with Pendle’s PT token in the Yearn Vault, yielding a 9.75% APY. After swapping, users can manage their positions easily on the Yearn V3 dashboard. This approach offers diversified exposure to stablecoins while leveraging Yearn’s yield optimization capabilities.In this strategy, users can combine their USDe with Pendle’s PT token in the Yearn Vault.
How to Access These Strategies
To explore these opportunities, visit app.shapeshift.com and connect your wallet. For newcomers, the platform also provides a straightforward way to buy crypto through the Buy/Sell Crypto tab.
Once set up, navigate to the Trade/Bridge section and swap your underlying assets for PT-USDe and yPT-USDe.
These strategies may provide a valuable addition to your DeFi portfolio, particularly in the current market environment. Don't miss out on these opportunities—start optimizing your yields today with ShapeShift.
So grab a drink and toast to your financial success. Cheers!
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