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Users can earn up to 18.50 percent on USDC or USSD via ftUSD, Andre Cronje notes
Andre Cronje, chief technology officer at Sonic Labs (formerly known as Fantom), provides an overview of lending and borrowing rates for stablecoins and major cryptocurrencies. According to Cronje, users can earn 4.59 percent on USDC or USDT using ftUSD on Ethereum, and up to 18.50 percent on USDC or USSD on Sonic via ftUSD. Margin-based lending offers additional rates, including 2.70 percent for USDT and 3.53 percent for USDC on Ethereum, as well as 6.69 percent for USDC on Sonic. Borrowing rates for BTC and ETH remain below 1 percent. Cronje also notes that margin-based lending allows for higher leverage due to maintenance margin requirements.
Cronje previously said that Sonic Labs generated nearly $1 million in revenue during its first 90 days of operation, raising questions about the platform’s projected annual run rate potential, according to earlier reports. During the first major drawdown event, he reported that only $50,000 was liquidated, attributing the result to equity account based lending, as detailed in a prior update. These disclosures provide context for the current lending rates and risk management approach at Sonic Labs.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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