January 26, 2021: USDN lonely at the top 🔝😔

Keep Ahead of the Curve

Here are today’s trends to watch from Curve Market Cap:

With prices of the $CRV token just under $2, we’re seeing some of the higher effective max rewards (which we calculate based on $CRV spot price) tapering off. With the dust settling, we wanted to take a closer look at the best place to park your greenbacks at the moment: $USDN

USDN has perched atop the dollar pools by potential max reward by a comfortable margin. This breaks down as 1.4% APY on trading fees and as high as 122% in CRV boosted rewards on good and growing volumes. This is currently highest on Curve alone, and doesn’t yet consider other rewards.

It gets even better, as USDN is an interest bearing token to the tune of ~10% interest. How is this possible? Vladimir Zhuravlev explains:

WAVES tokens’ leasing mechanics enable a passive income from WAVES tokens at an annual rate of 5–6%. Proceeds from leasing are split between all USDN holders who chose to stake their tokens. But, because some USDN tokens are used for trading as opposed to staking, an annual income on staked USDNs increases to over 9%.

Neutrino Protocol @neutrino_proto

Lately, $USDN has emerged as a promising newcomer in the #DeFi space, and we've been receiving questions on its differences from major algorithmic stablecoins. We'll start with $Dai, one of the biggest players in this field.

medium.comAnalyzing USDN and DaiStablecoins are a key element of the DeFi industry. In this article, Vladimir Zhuravlev, Waves developer advocate, discusses three features of the stablecoin USDN, built on Waves, focusing on…

Does it actually work? @crypto_birb has been running a staking diary. They’ve made a few hundred on a $10K investment after a couple of months, putting them pretty much on track with expectations. As they put it, “Some would say it ain’t much, but it’s an honest work.”

CRYPTO₿IRB @crypto_birb

Here's some promised update on our staking diary in @YellowBlock_io. Publicly staking 10,000 $USDN to show off the earnings in transparency. Until now it's generated 271.11 $USDN. Some would say it ain't much but it's an honest work. Learn more👇 yellowblock.io/usdn-staking-d…

yellowblock.ioUSDN Staking Diary - YellowBlockBeing able to stake cryptocurrencies is becoming increasingly more popular as it is one of the easiest methods to generate some passive income. If you want to learn more about staking and how you can do it yourself, we wrote a guide here: https://yellowblock.io/how-to-stake-usdn-and-earn-passive-income/…

Yet some even within the Neutrino community are still scratching their heads. On their somewhat new forums, they have a thoughtful thread on the utility of the USDN token inspired by this observation:

“The only reason financially speaking for someone to mint USDN right now is if you are a whale and want to do big swaps or if USDN at curve is at high price, so you can win some money doing arbitrage. Both cases are very rare to occur.”

Throughout the philosophical discussion the community debates the pros and cons of lower fees, lending, and lockout windows. Well worth a read.

What do you think? Leave us your comments!

We launched Web3 MetaMask integration on Curve Market Cap and it looks like a hit. Since our launch this week, 20% of our 88 active users have linked a wallet. You wonderful people can expect a first look at some new features this week!

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