Earn Insane Yield on USDC stablecoin with Magik Farm’s Auto-Compounding Vault!
Probably the most common form of loss in crypto is token value loss. Yes, exploits, rug pulls, and hacks result in billions of dollars lost. But, on a daily basis, non-exploited funds can continue to reduce in value, partly from demand fluctuations, and partly from the nature of blockchain emissions.
So, lately, I have been a big proponent of stablecoin yield to stabilize and preserve gains. At first, I was in Anchor Protocol’s UST for 20% APY. Well, we all know how that ended up. Then, I was in Nexo and Finblox for 15% APR. But, with the recent market volatility and VC insolvencies, those rates are hovering around 1% to 5% currently … and some of them NONE percent! Ouch!
Well, fortunately, I am an experienced yield farmer, so there are other ways to generate yield on stablecoin. So, in this article, I will just discuss another new platform, Magik Farms, where we can use a vault with stablecoin LP to generate rewards with a high Annual Percentage Yield. Magik Farm is multi-chain compatible and features auto-compounding vaults.
Author’s Disclaimer: This is not trade or financial advice. This information is being presented for entertainment purposes and represents the OPINION of the author. All trading and investing, whether real estate, stocks, or crypto, involves the risk of loss, sometimes greater than 100% loss. Do not trade or invest with funds you are not willing to lose. Please do your own research and verify information for yourself. Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
While Magik Farm has 12 vaults, I will focus on this Walrus-USDC vault because of its stablecoin LP. I first learned about Walrus (WLRS) from Grape Finance. I have written about Grape’s platform HERE. In the Nodes section, there is one called GRAPE-WLRS-LP and has a compounded return of almost 500% APR: