For stablecoin enjoyers there's a nice play on @protocol_fx where you get 18% APR.
Where is the yield coming from? Users open fixed-leverage long/short- positions on ETH and BTC, up to 7x, with no funding cost and built-in liquidation protection. Every time someone opens or closes a position, a fee is paid.
It flows directly to fxSAVE, their yield-bearing stablecoin, where it combines with $stETH staking rewards to generate real yield.
Flywheel: more users → more long/short POSITIONs → more protocol fees → higher yield → more demand for fxSAVE.
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