USDT single currency mining pool 48.19% APY, a bit scary!

This mining pool is on the well-known cross-chain bridge protocol Stargate @StargateFinance.

Originally, I wanted to find a low-cost way to cross-chain USDC to Sonic @SonicLabs, about an hour ago, it was still free to cross-chain through Stargate.

Just as I was about to transfer a larger amount of funds, I found out that there would be a fee of 0.06%, shocking!

After researching, I discovered that Stargate uses a "Delta Algorithm" mechanism, which dynamically adjusts fees based on the liquidity status of the source chain and target chain.

When liquidity is unbalanced, fees may be higher to incentivize users to help balance; when liquidity is balanced, fees may be very low or even zero.

Seeing the word liquidity, I was wondering, since there is liquidity, could there be a mining pool?

Upon checking, sure enough, there is! It is divided into Pool and Farm types.

The Pool is categorized by chain, and can also provide tokens to increase liquidity, but it does not show APR.

The USDT single currency 48.19% APY mining pool mentioned at the beginning is in the Farm section, with the top of the page stating: liquidity providers can stake LP tokens to earn STG rewards!

Since I have other matters at hand, I don't have time to study it in detail or test it, so I'm sharing it with everyone first!

Just a reminder, test the entry and exit for smoothness first, then check if the hourly interest rate is normal, and finally, invest larger amounts!

Lastly, if there are any knowledgeable experts, feel free to enlighten us in the comments about the principles of this mining pool, why the interest rate is so high, yet it seems no one is mining!