Let's go mining!

It's here, but the returns have decreased a bit!

The single-coin APR for ETH has dropped to 10.9%, and the APR after using USDC for leverage is 15.04%;

Known information:

1) Storing USDC can earn 6.93% APR;

2) Borrowing ETH only requires a payment of 0.24% APR;

3) Storing ETH can earn 10.91% APR;

4) After depositing, the borrowing ratio is 76%;

Logical analysis:

1) Directly storing ETH can earn 10.9% APR;

2) There is an interest spread between storing and borrowing ETH: 10.67% = 10.91% - 0.24%;

3) Assuming a deposit of 10,000 USDC, you can borrow ETH worth 7,600 USDC;

4) You will earn 6.93% APR on the 10,000 USDC;

5) You will earn 10.67% APR on the 7,600 USDC worth of ETH;

Operational suggestion: Deposit USDC, borrow ETH, and transfer to another wallet, then deposit ETH to achieve an APR of: 15.04% ≈ 6.93% + 10.67% * 7,600 / 10,000;

Tips:

1) ETH can be transferred in via the official cross-chain bridge of @SuiNetwork;

2) Since the core lending protocol AlphaLend does not support borrowing and storing the same token in the same wallet, you need to prepare two wallets;

Note: The core protocol is @AlphaLendSui
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TVL: $9.32M

DeFi Enthusiasts: BitHappy