LST Yield Strategy
Unleashing the LST alpha
Hey, friend!
It’s the 15th edition of Gems Corner. Today’s edition highlights strategic LST plays, Hong Kong narrative and other alpha.
Enjoy the gems.
Yields for LST Tokens
ETH Liquid Staking has taken centre stage in DeFi for the last few months. With Liquid Staking flipping DEXs, and Lido dominating about 26% of DeFi’s TVL, it’s showing no signs of stopping soon.
Even after the Shanghai Upgrade, we have seen a high percentage of ETH deposits.
If you have staked ETH and looking for where to farm yields for your LST token, sit tight. Here are three places to try (in no particular order):
1. Pendle:
With Pendle, stETH holders can gain leveraged yield exposure while boycotting liquidation risk. It enables users to long LST assets at a discount. Pendle offers high yields, with APY ranging from 15% to 57%.
2. unshETH
unshETH allows users to earn staked ETH yields and swap fees with their LST. They currently support wstETH, cbETH, rETH, and sfrxETH. unshETH also offers high yields, ranging from 5% to 75%.
3. Curve
If you’ve been in DeFi for a while, then you’ll definitely know about Curve. They have decent pools where you can farm yields for your LST tokens. Although their yields are low, ranging from 0.11% to about 6%.
Hong Kong Open Doors to Retail Trading
Hong Kong’s securities regulator recently announced it would allow retail trading of selected crypto assets starting June 1. This decision was made to strengthen further Hong Kong’s effort to become a global crypto hub.
The Hong Kong government also stated that the tokens purchased by retail investors must be included in the two major indexes as a minimum requirement. Here’s a list of the tokens that will likely be listed in the first batch of Hong Kong Compliance exchanges.
Don’t fade the Hong Kong Narrative anon. Will be doing a deep dive soon enough.
Image of the Day
Apple is rumoured to reveal the AR Headset in the upcoming #WWDC2023 happening on June 5th. That said, most projects related to AR/VR or Apple will likely see a pump during this period.
Make the most of this information.
Alpha Drips
Circle launches euro-backed stablecoin on Avalanche - link
Florence Finance kickstarts its Alpha testing phase - link
How to get a job in crypto - link
The first annual State of DeFi Report 2023 - link
Aarnâ Finance, a DeFi alpha discovery protocol, launches its beta program - link
Binance just launched an NFT loans feature - link
Ava Labs launches AvaCloud, a web3 launchpad - link
Coinbase launches Wallet as a Service on Mainnet - link
Thanks for reading!
Until next Friday,
Viktor DeFi.