Rise of the Yield-Bearing Stablecoin 💸📈
Stable Summit full keynote address and annotated notes
The undisputedly dominant narrative of ETHDenver was absolutely stablecoins. Even attendees outside the niches of DeFi side events acknowledged the supremacy of stablecoins as a use case for Ethereum.
Would be a shame if somebody created an entire event dedicated to stablecoins…
We’ve been following stablecoins for over a decade now and had the privilege of presenting the keynote address at Stable Summit. We used our time to unpack the rise of yield-bearing stablecoins, the newest narrative that’s picked up steam over the past few months.
The talk is available in full above. To prepare this short talk, we assembled enough data for a talk that could have been an hour and compressed it into the following outline:
The History of T-Bills as a source of Strategic Yield
Stablecoin Math: Correlations between Supply/Demand and APY/Risk
Yield Seeking as a Metric: Case Studies from Inverse, Curve, Frax, Sky, Ethena, and Tether
Full notes to follow…
History of T-Bills
Surely the history of earning “interest” on money is centuries old. In the interest of brevity, we’ll keep our story centered in the modern era, with the rise of T-Bills, which turn a relatively youthful 96 years old this year.
