Author|Azuma(@azuma_eth)
This column aims to cover low-risk yield strategies (Odaily Note: code risk can never be eliminated) in the current market, primarily focusing on stablecoins (and their derivative tokens), to help users who wish to gradually amplify their capital through U-based wealth management find relatively ideal interest-earning opportunities.
Past Records
《Lazy Man's Financial Management Restart｜Ethereal Earns 27% APR While Farming Points; Huma Opens New 28% APY God Pool (January 6)》;
《Lazy Man's Financial Guide｜Cap's Official Stablecoin Airdrop Announcement Boosts New Pool APY; hyENA Increases LP Quota (January 22)》.
Exchange Wealth Management
The hottest wealth management opportunity at the moment is undoubtedly Binance's recently renewed USD1 holding subsidy activity.
On January 23, Binance announced an airdrop activity for eligible users holding USD1 on the platform. The activity period is from January 23 to February 20, with a total prize pool of $40 million equivalent in WLFI. Eligible users need to hold a USD1 balance in any Binance account category (including spot account, funding account, margin account, U-based contract account; margin or contract accounts enjoy a 1.2x reward multiplier). During the activity, WLFI rewards will be distributed weekly to users holding USD1. The first airdrop will be distributed on February 2, covering rewards from January 23, 8:00 to January 30, 8:00. Subsequent rewards will be distributed every Friday.
A simple calculation of the yield situation suggests the result might not meet general market expectations. Overall, there are two main variables: one is the total value of the WLFI prize pool; the other is the total amount of USD1 within the Binance platform.
First, the total WLFI prize pool should be a fixed value of $40 million. However, this morning, World Liberty Financial transferred 235 million USD1 (worth approximately $40 million) from its treasury address to Binance, which is expected to be the total prize pool for this airdrop activity. Therefore, over the next month, the total value of this prize pool will fluctuate with the price of WLFI. Considering the current downward market and the selling pressure inherent in airdrop rewards, I lean towards the prize pool's total value shrinking somewhat.
As for the total amount of USD1 on the Binance platform, the total issuance of USD1 has reached 4.9 billion tokens, with approximately 4.22 billion located within the Binance platform. Statically calculating with this data, the average annualized yield for this activity is about 12%. The problem is, since Binance launched this activity, the supply growth of USD1 has been very dramatic — nearly 700 million tokens have been added since January 23, and most newly issued USD1 will flow into Binance, which will inevitably accelerate the dilution of the overall yield rate.
Considering these two variables, I tend to believe the average yield for this activity will quickly dilute to below 10%, with a final expectation of around 8% being relatively reasonable. Based on this standard, unless you already hold USD1 (or stablecoins like USDC with a higher premium than USDT), entering the market at a premium (e.g., buying USD1 with USDT at the current premium) is no longer cost-effective.
On-Chain Strategy One: ListaDAO U/USDT LP Incentives (21.29% APY)
This morning, the mainstream BSC lending protocol ListaDAO announced a LP deposit incentive activity for the stablecoin U in cooperation with Binance Wallet.
Specifically, users need to participate through Binance Wallet. The activity runs from January 26, 8:00 UTC to February 9, 8:00 UTC. Participation involves depositing U/USDT LP (depositing both U and USDT simultaneously) via Smart Lending into ListaDAO. ListaDAO will provide 240,000 LISTA tokens as incentives, with a current APY of approximately 21.29%.
On-Chain Strategy Two: OpenEden PRISM Pre-Deposit (26.4% APY)
On January 23, OpenEden announced on platform X, in conjunction with FalconX and Monarq, the upcoming launch of the tokenized yield investment portfolio PRISM. This product aims to seek stable returns through a multi-strategy quantitative model actively managed by Monarq, maintaining low correlation with cryptocurrency prices across market cycles.
PRISM will officially launch in February, but pre-deposits are now open with a limit of $50 million. Currently, $14.43 million has been deposited, leaving significant space available. OpenEden will provide 4.7 million EDEN tokens for pre-deposits, with a current real-time APY of approximately 26.4% (primarily from additional token incentives).
On-Chain Strategy Three: Buidlpad Vault Phase 2 (8% APY)
On January 24, Buidlpad announced the launch of the second phase of its DeFi fixed-term deposit product, Buidlpad Vault, offering a fixed return of 8%. This phase's deposit opened on January 25, 8:00 UTC, with a limit of $20 million. It supports ETH and USDT on Ethereum, and BNB and USDT on BSC.
As of writing, $18.7 million has been deposited into this pool, with a small amount of quota still available for participation.
