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USDC and USDT earn 13.74% APY on Ethereum, Andre Cronje notes

USDC and USDT earn 13.74% APY on Ethereum, Andre Cronje notes
USDC and USDT earn 13.74% APY

Andre Cronje, chief technology officer at Sonic Labs (formerly known as Fantom), notes that USDC and USDT are currently earning a 13.74% annual percentage yield (APY) on Ethereum through ftUSD, with approximately $2 million in additional room available at this yield.

The tweet also states that USDC and USSD can earn 7.44% APY on Sonic via ftUSD, with up to $500,000 more available at the current APY. Cronje emphasizes that there are no subsidies or points, with the offering providing real yield, no lockups, and instant liquidity, entirely onchain.

Cronje previously highlighted that users could earn up to 18.50% on USDC or USSD via ftUSD on both Ethereum and Sonic, with BTC and ETH borrow rates below 1 percent, according to a recent report. In an earlier incident, he noted that FT's first major drawdown event saw only $50,000 liquidated, which he attributed to equity account based lending (full story).

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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