Currently using $BTC assets to borrow stablecoins $USDS, $USDC, or $DAI on the @sparkdotfi platform for mining or other trading operations, and by writing content on Twitter, you can earn SNAPS points from @cookiedotfun. This time, the new sauce recommends if you borrow $USDS with $BTC from @TheTNetwork to earn double-digit annualized returns 🧵

> Currently, the Spark platform can cater to three demands simultaneously, including (1) supply; (2) as collateral; (3) the borrowed Bitcoin assets are only $cbBTC and $tBTC. If you want to borrow $BTC wrapper, the lending rate for BTC is lower than that of other borrowable assets, with the current rate for $cbBTC at 0.1% APY and $tBTC only requiring < 0.01% APY.

> The minting mechanism of $tBTC is relatively simple and direct compared to $wBTC. You just need to send BTC to a specific Bitcoin address managed by https://t.co/h538fiPuAO to lock it. The Threshold node will monitor the Bitcoin blockchain to verify whether this deposit transaction is valid. Once the Bitcoin deposit is confirmed, the Threshold smart contract will mint an equivalent amount of tBTC tokens on Ethereum. The minted tBTC maintains a 1:1 peg with the locked BTC.

> So if I deposit $tBTC, where should I store the borrowed $USDS / $DAI? Currently, the borrow APY for stablecoins on the Spark platform is 5%. Converting stablecoins to $crvUSD or other types of stablecoins on Ethereum also yields quite good returns:

(i) The yield for depositing $reUSD in @ResupplyFi's insurance pool is 21%

(ii) The $fxSAVE automatic compound vault of @protocol_fx has an annualized return of 11%

(iii) Depositing $USDC in @TokemakXYZ, the project will allocate stablecoins to other DeFi projects to optimize returns, with an annualized return of about 10%

(iv) Many stablecoin pools on @ConvexFinance can provide veCRV boosted returns of over 20-30% annually

(v) Finally, of course, is the yield pool of @pendle_fi, where several LPs including @levelusd, @GHO, @ethena_labs, @protocol_fx, etc., can offer double-digit returns. Directly depositing $USDS into Pendle's LP or buying YT can also earn you an additional 25 SPARK points daily.

Here’s the registration link for the new sauce on Spark: