APY can reach up to 9%, 20 types of yield-bearing stablecoins
1. USDe / sUSDe (Ethena Labs):
Stake stETH and earn returns through a delta-neutral hedging strategy, with a maximum APY of about 9%
2. sDAI (Spark / MakerDAO):
Deposit DAI into the DSR contract to earn interest, annualized at about 3.25%
3. USDA / stUSD (Ondo Finance):
Mint USDC, with returns coming from DeFi and RWA, stUSD currently has an annualized rate of about 6.38%
4. BUIDL (BlackRock):
Represents shares in the BlackRock money market fund, investing in treasury bills and repurchase agreements
5. YLDS (Figure Markets):
The first yield-bearing stablecoin registered with the SEC, with an annual interest rate of about 3.79%
6. USDS / sUSDS (Sky Protocol):
Renamed version of DAI, deposit into the Sky protocol to earn an annualized yield of 4.5%
7. USD0 / USD0++ (Usual):
RWA supported, staking Curve can earn USD0++, with an annualized yield of up to 13% (requires 4 years of locking)
8. USDM (Mountain Protocol):
Available for non-US users, invests in short-term US government bonds, annualized at about 3.8%
9. OUSD (Origin Protocol):
Backed by USDC, DAI, USDT, deploying DeFi strategies to profit, annualized at about 3.67%
10. mkUSD (Prisma Finance):
Generated by LSD collateral, returns come from the underlying staked assets, annualized between 2.5%-7%
11. USDN (Noble):
Supported by short-term US government bonds, basic annualized return of about 4.2%, additional points can be earned through staking
12. sfrxUSD (Frax Finance):
Backed by BUIDL assets, dynamic yield strategies optimize APY
13. lvlUSD (Level):
Collateralized by USDC/USDT, deployed into protocols like Aave/Morpho, annualized can reach 9.28%
14. DUSD (Davos Protocol):
Multi-chain stablecoin, deriving returns from re-staking, annualized between 7%-9%
15. USD3 (Reserve Protocol):
Composed of PYUSD, DAI, USDC, lending protocol returns about 5%, over-collateralized
16. USDY (Nova):
Purchases short-term government bonds with USDC, returns set monthly, currently annualized at 4.25%
17. USDL (Paxos):
Compliance daily yield-bearing stablecoin, returns come from short-term US government bonds, about 5%
18. yUSD (YieldFi):
Supported by USDC/USDT, adopting delta-neutral strategies, annualized at about 11.34%
19. USDO (OpenEden):
Supported by tokenized US government bonds, daily rebase distribution of returns
20. deUSD / sdeUSD (Elixir):
Combining government bonds and internal protocol lending, annualized return of about 4.39%, including additional rewards
