The Best Opportunity to Earn on Stablecoins is Now!
Stablecoins have become the bloodstream of DeFi, providing a stable alternative to the volatile fluctuations of other cryptocurrencies. But what if someone told you that stablecoins could be used for much more than just being held in a wallet as a form of savings or as an asset to use for buying other cryptocurrencies and tokens? What would you say if someone would tell you that even centralized stablecoins can be used as a means of achieving hyperbitcoinization? That’s exactly what BabelFish Money Protocol with its XUSD Sovryn with its Zero and Mynt protocols aims to do.
Although most stablecoins are pegged to the US dollar, it’s important to recognize that not all of those stablecoins are created equal, and each carries its own unique set of risks. But how can you ensure the safety and stability of stablecoins? BabelFish Money Protocol has developed a unique approach to address this concern — by aggregating different stablecoins from Ethereum, Binance Smart Chain, and Rootstock blockchains and issuing a meta-stablecoin called XUSD, which is backed 1 to 1 by aggregated stablecoins. Among them you will find centralized, decentralized and even Bitcoin backed stablecoins (USDT, USDC, BUSD, DAI, rDOC, DOC and ZUSD). Moreover, XUSD is helping to bring scattered stablecoin liquidity together, making it easier for users to access and benefit from different stablecoins.
With issuing DLLR, Sovryn’s Mynt went a very similar way but with exclusive focus on Bitcoin backed stablecoins — currently ZUSD from Zero Lending Protocol and Dollar-on-Chain from Money-on-Chain.
By combining the features of BabelFish and Sovryn Mynt, one can seamlessly shift from centralized stablecoins to fully decentralized, censorship-resistant, and permissionless stablecoins.
Currently BabelFish’s XUSD and Sovryn Dollar (DLLR) are present only on Rootstock Blockchain — Bitcoin sidechain — layer 2 solution which is EVM compatible, with a big part of hashpower secured by Bitcoin miners and where building DeFi and Stablecoin on Bitcoin became reality. That is also where Sovryn — a decentralized exchange and DeFi platform — is built.
This leads us to an exciting opportunity for users to put their stablecoins to work and earn passive income. Sovryn offers multiple ways to earn with cryptocurrencies, but it is offering the best conditions on the market when it comes to earning yield on lending stablecoins and providing liquidity.
As of time of writing, stablecoin holders who decide to lend out XUSD on Sovryn platform can earn ~4.72% APY*!
For those who are not afraid of impermanent loss — providing stablecoin liquidity to Sovryn’s automated market maker (AMM) pools offers an even higher yield of around 26.38% APY* for XUSD and more than impressive 97.11% APY* for the newly launched DLLR!. And taking into consideration the fact that Sovryn is built on EVM compatible Bitcoin sidechain where all interactions are secured in a decentralized, transparent manner by smart contracts, adds an additional major advantage for those seeking to participate in DeFi while also benefiting from Bitcoin’s security and reliability. You can be a HoDDLR and earn at the same time!
Are you ready for more? Sovryn has just made history not only with its DLLR, but also by offering FULLY LIQUID rewards for the DLLR/RBTC AMM pool for the next two weeks! That’s right, no more waiting around for your rewards to vest — claim them instantly! And if you’re looking for even more excitement, this week’s rewards are massive 30K SOV tokens. But you’ll need to act fast, because next week’s rewards are set to be readjusted.
Get ready to take your stablecoin game to the next level! With Sovryn and BabelFish, you can do much more than just keep your cryptocurrency stable in a volatile market. By leveraging these platforms, you can earn passive income while minimizing the risks associated with stablecoins. So why settle for just stability when you can earn even more with Sovryn and BabelFish? Start your journey towards financial freedom and join the exciting world of decentralized finance today!
* Approximate values at the time of writing. Subject to change.