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Andre Cronje: 10.22% APY available on USDC and USDT via ftUSD

Andre Cronje: 10.22% APY available on USDC and USDT via ftUSD
10.22% APY offered on USDC and USDT

Andre Cronje, chief technology officer at Sonic Labs (formerly known as Fantom), highlighted that the annual percentage yield (APY) for USDC and USDT remains at 10.22% on Ethereum via ftUSD, with rates having stayed stable for over two months.

Cronje also noted that the caps for this offering have increased from $5 million, and $1.3 million in liquidity is currently available. ftUSD is described as a composite asset; those concerned about risk can borrow it from the FT lending market at 2.16% and stake for the 10.22% APY.

Cronje previously reported that USDC and USDT on Ethereum were generating yields as high as 14.71%. In a separate note, he detailed that returns on USDC and USDT had reached 11% through several dashboards. He also addressed counterparty risks related to USDC, USDT, wETH, and wstETH.

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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