Best yields in stablecoins, April 2022

I spent some time researching the best stablecoin yields, and here are my top 3.

Disclaimer

I am building Wido, where you can find the best yields on stables. Check it out on https://app.joinwido.com/.

Context

DeFi vaults are smart contracts that accept deposits and grow them by employing various strategies like lending, AMM and more. You can think of vaults as savings accounts. You deposit your token in, let it grow and withdraw more later.

Today I want to focus on stablecoin vaults only. Let’s look at the best vaults offering 20%+ APYs in USD stablecoins.

Criteria

• USD stablecoin vaults only
• Yield in USD stables only (rewards in gov tokens or any other “extra” tokens don’t count)
• ANY chain
• ANY protocol
• Minimum TVL: $20M (total value locked)

Top 3 vaults with the best yields in stablecoins

(1) Curve USDN by @yearn.finance on Ethereum 🥇

• Current APY: 32.36%
• Current TVL: $58.39M
• Chain: Ethereum

The APY has been growing since March 23rd when it was 7%. We are curious to see where it lands, but currently, this is one of the best stablecoin vaults we found.

It supplies your deposit into Convex to earn CRV and CVX. Earned tokens are sold for stables and deposited back into the vault, yielding interest.

Gaslessly deposit with Wido here (and save while doing so).

(2) Anchor Earn by @anchor on Terra or Avalanche

• Current APY: 19.59%
• Current TVL: $12.25B

With a 19.59% APY, it’s still one of the best vaults for stables. With TVL at $12.25B, it is clear that many others think the same.

Anchor offers high, stable deposit yields powered by rewards of Bonded Asset lenders. Wido will soon enable gasless deposits into this vault. For now, head to https://www.anchorprotocol.com/ to deposit using their UI.

(3) USDC-MAI by @beefy.finance on Fantom

• Current APY: 18.48%
• Current TVL: $20.58M
• Chain: Fantom

A newer vault that just crossed our $20M bar. This vault deposits your funds in a SpookySwap farm, earning a Spooky governance token. Earned tokens are sold for USDC and MAI and deposited back into the vault, yielding interest.

Gas-free deposits available for the USDC-MAI vault with Wido. Wido will cover full gas.

‍

‍

And what about you? Are you growing your stables? Which farms do you recommend? Let us know via Twitter!

P.S. I am building Wido, where you can find the best yields on stables. Check it out on https://app.joinwido.com/ and follow Wido on Twitter to get alpha on stablecoin yield.