Since Ethena actively promoted the USDe circular lending strategy, the supply of USDe has surged (currently 11.7B). I've been wondering if this will impact the liquidity of stablecoins in the crypto space?
Today, I found that Binance has three stablecoin activities with 10%~20% discount interest rates at the same time, indicating that the competition for stablecoin liquidity is becoming increasingly evident. Here is a summary of the information for the three events:
1. USDC 12%, demand product
Event Duration: 2025/8/11~2025/9/10
Discount Amount: 10,000 USDC, can obtain 10% discount interest rate + 2% instant interest rate
Event Entrance: Guaranteed profit
* This event is on a first-come, first-served basis, interested parties should subscribe as soon as possible.
2. USDC 12%, Binance Wallet Sei ecosystem earnings season
Event Duration: 2025/8/5~2025/10/4
Participation Method: Supply at least 25 USDC through Binance wallet in Simple Yield USDC Yei Finance pool
Event Entrance: Binance Wallet - Exclusive Airdrop
* Interest rates may vary daily, the total prize pool is $13,000,000 SEI, the more funds that participate, the lower the interest rate will be.
3. USDT 10~20% additional interest rate, Depository Easy
Event Duration: 2025/7/29~2025/8/27
Participation Method: Successfully match new USDT Depository Easy orders, distribute according to the amount of deposited coins to the respective reward levels.
Event Entrance: Depository Easy
* The additional interest rates for this event are 10%, 15%, and 20%, with a reward cycle of seven days.
Summary
Simple Classification: Depository Easy is suitable for large funds, demand products are suitable for medium and small capital sizes, SEI is suitable for on-chain users.
Three events cover users regardless of on-chain or off-chain and the size of funds, everyone can find suitable activities to enjoy discounted interest rates!
Boldly predicting that with the continuous development of circular lending strategies like Ethena, Aave, Pendle, the liquidity of stablecoins will become a battlefield, whether on-chain agreements or exchanges will offer preferential interest rates to attract funds.
The high stablecoin interest rates in the bull market are really coming back, it's time when both mainstream coins and stablecoins can generate profits.
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※ The above content does not constitute investment advice. Users should operate according to their own risk tolerance and participate in the investment market cautiously, DYOR.
※ Attached image taken from Binance, Binance Wallet