Defi Staking Stablecoins?

[jerry0]

I heard that if you stake in Defi, you could earn a lot... like around 20% interest a year on average.  Is that true and if so, is it simple to do?


I cannot use blockfi, celsius or nexo due to my location.  The only site i could earn interest seem to be gemini where they have that GUSD and you can earn 8% which is a lot it seems already.


But I heard if you stake in Defi, you can earn 20% if you stake stablecoins.  Can someone confirm this and if so, what exchange would I use?  I read that you need usdc or usdt and you pair it with another stablecoin like DAI.  You basically get paid in DAI.  But if you leave it there for a whole year, you should get around 20% worth of DAI for that usdc coin you sent there.  Can anyone confirm all of this?


I also heard there are other coins you can do to get more interest but those are more risky.  I do not want risk and want like stable income interest coming in.


Anyone can give input on this?  I want stablecoin that doesn't have fluctuations and literally no risk.  Thus i know with gemini... if you convert it to GUSD... well its pretty much risk free.  But if you could earn 20% risk free as oppose to 8%... I definitely would be interested.


Anyone have opinion on this?

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[TastyChillySauce00]

I heard that if you stake in Defi, you could earn a lot... like around 20% interest a year on average.  Is that true and if so, is it simple to do?

it's not true and i rarely seen a defi that was offering 20% APR/APY. Im always seeing it was always offering around 7% - 10%. You can see the list here but i would recommend you to do yield farm instead of staking.

I cannot use blockfi, celsius or nexo due to my location.  The only site i could earn interest seem to be gemini where they have that GUSD and you can earn 8% which is a lot it seems already.

can you still use another defi like pancake or something else?

But I heard if you stake in Defi, you can earn 20% if you stake stablecoins.  Can someone confirm this and if so, what exchange would I use?  I read that you need usdc or usdt and you pair it with another stablecoin like DAI.  You basically get paid in DAI.  But if you leave it there for a whole year, you should get around 20% worth of DAI for that usdc coin you sent there.  Can anyone confirm all of this?

Where do you get this information. Im not even seeing it. USDT APR/APY was even higher than DAI. if you meant about yield farm and it may be possible.

I also heard there are other coins you can do to get more interest but those are more risky.  I do not want risk and want like stable income interest coming in.

Then stable coin yield farm was the solution. You can try to see stable coin APR/APY as your refference. https://www.stakingrewards.com/stablecoins/

Anyone can give input on this?  

What about yield farm? are you interested in this? You will be getting altcoin as your payout and you can convert it into the stable coin as well to be added into your portfolios.

[guydin]

I heard that if you stake in Defi, you could earn a lot... like around 20% interest a year on average.  Is that true and if so, is it simple to do?

That's true that you can just stake your stable coins and other tokens very easily and get interests for it. But I am not sure about stablecoins with such big APYs. You can find such big interests on new and not very reliable platforms. On the other hand, if you check APYs on popular platforms, staking stable coins can give you less than 1% APY plus rewards, but more risky pools of course give you bigger APYs.

[RussianEnglishTranslation]

You won't earn as much profit farming with stablecoins. You're supposed to take profit from your cryptos in stablecoins first. Anyway, Ref Finance and Robo-vault both have good APY.

[AhmadM]

I heard that if you stake in Defi, you could earn a lot... like around 20% interest a year on average. 

Depends on which defi platform that you pick to stake your stablecoins, basically every single defi platform offering various interest rates nevertheless as far I know most of them were under 20%. It's quite rare to see wherefore a defi platform providing 20% or more interest rates for staking on stablecoins.

Is that true and if so, is it simple to do?

Its quite simple, you just need to connect your web3 wallet such as metamask or etc to its platform, approve the contract, stake your stablecoins, and enjoy the passive income that you desire.

[Jaered]

To be honest, I haven't  seen any DeFi platform with an APY of 20%. The highest I have seen is 17% and I doubt if that platform can sustain such a relatively huge rate(may be a potential rugpull). So please always do your research before putting in your money

[bitcon]

To have minimal risks, you are to use defi-projects with a good reputation. Such projects give you less interest as liquidity is already high, but at least you can be calm about your money. Actually, talking about stablecoins, APYs are much lower than 20%. For example, on Curve you get 0,24%+2,66% (rewards in Curve) that will be around 6,65% for staking DAI+USDC+USDT. Other popular defi-projects are Uniswap, 1Inch, Quickswap, Sushiswap, PancakeSwap.