For every good L1, there's a 1000 that will die a slow death.
It's hard to tell these apart sometimes because these new L1s often have the right buzzwords behind them with the right investor along for the ride.
But those aren't the chains I'm looking at, I want resiliency and a fight to the death mentality.
Recently, my eyes have been fixed on @avax as they've been putting in the work. Not only have they been pushing for institutions and funds to jump onto the chain, they understand the current narrative for crypto: Stablecoins and BTC.
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The King of the moment right now is obviously $BTC, having hit that new ATH and Avalanche seems to be a new hotbed for BTC yield with @avantprotocol launching their newest product: @savBTC.
Stacking sats will be the new equivalent to stacking cash and we need easy ways for everyone to get involved.
That's why @avantprotocol created $savBTC to bring risk adjusted yield to BTC holders.
$savBTC is powered by BTC-neutral DeFi strategies to earn yield, up to 10% APY during their testing period!
Where the big unlock comes here is that they're working on finding partners to use $savBTC in various lending protocols along with other DeFi applications.
A yield-bearing BTC product that you can borrow off of leading to high yielding loops
savBTC will complement Avants savUSD, a yield-bearing stablecoin employing similar strategies for USDC and USDT deposits, that have already reached 62M TVL
Key strategies used to earn yield:
- Arbitrage and Hedging
- Cash and Carry Trade
- Lending
- Liquidity Provision
- Yield Farming
Great to see new developments on @avax and, time for more people to pay attention to the red blockchain 🔺️
