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Details: ht
I can't remember the last time I saw this much demand for a stablecoin
@USDai_Official and their stablecoin USDai has it's liquidity sitting on @CurveFinance
Interestingly, the pool is now 94% in USDC and only 6% in USDai. That's despite the caps opening up and filling to $160m literally just today and filling in 15 minutes.
Due to the buy pressure:
- USDai trades at a 3% premium at $1.03
- The curve pool has only got $260k of USDai left
It has also created another phenomenon - currently, the highest yielding PT asset on @pendle_fi with an almost 23% APY.
The most interesting strategy here of course is going to @eulerfinance and looping up via USDC to create a 50%+ APY stablecoin position.
Good luck trying to get your hands on some though, maybe we'll have better luck next week. If anyone wants to hook a brother up, you know where to find me 🤣