USDC 28% APY, are you in?

The protocol is the yield trading protocol Nemo on Sui that was introduced before.

Recently, it has been quietly making moves; compared to the last time when sUSDC had only 150,000 TVL, this time it has expanded significantly.

➤ The following information comes from Nemo's official source:

1) Nemo has the support of the Sui Foundation;

2) A 3x points event was launched yesterday, with LPs enjoying points incentives for: sUSDC, ssbUSDT, sSUI;

3) At the same time, sUSDC, ssbUSDT, and sSUI also have $SUI subsidies;

➤ Logical Analysis:

1) The incentives with Scallop are still ongoing, plus additional incentives from Sui and triple points;

2) sCoin is a composite equity token for the corresponding tokens in Scallop's lending market; for example, by depositing USDC into Scallop for lending, you can obtain sUSDC, and the price of sUSDC will gradually rise over time;

3) In the yield trading market logic, sUSDC can be split into YT-sUSDC and PT-sUSDC, where LPs provide liquidity for them, and the 28% APY serves as a reward for providing LP;

4) The logic for the other two, ssbUSDT and sSUI, is basically consistent with that of sUSDC; those interested can research on their own;

5) In fact, when adding liquidity, you do not need to obtain sCoin first; you can directly use native tokens like USDC and SUI;

➤ How to Operate:

1) Choose your preferred token pool;

2) Invest the amount you wish to invest;

3) Earn APY rewards and airdrop points;

➤ TVL:

1) sUSDC: $1.029M;

2) ssbUSDT: $1.02M;

➤ Risk Reminder: There are no specific reminders for stablecoin deposits; the safety is entrusted to the backing;

➤ Note: The core protocols are Nemo and Scallop.

For those who are not very familiar with yield trading protocols but are interested, you can review my past tweets.

Nemo is clearly the yield trading protocol that Sui wants to support, and it has points/airdrop plans, which aligns with my preferences: DeFi + airdrops!