How to take advantage of Monad’s situation
They’re now in a limbo: TVL stuck, no new token buyers, no featured apps.
One way I expect them to keep running is the $MON incentive program across DeFi protocols.
Because if they stop feeding incentives into top protocols like Gearbox, Morpho, Euler, I think TVL will drop even more and risk becoming a completely dead chain.
Which leaves good opportunities for us to farm, just like in my post below. 👇
Stablecoin Farming on @monad
APY is now incentivized with $MON tokens across DeFi protocols.
10%+ on stablecoins? Easy.
Here are the list and guide to onboard in 2 minutes 👇:
1️⃣ DeFi Protocols: Euler, Morpho Gearbox
> @eulerfinance: 16.9% on AUSD
> @Morpho: 13.19% on AUSD
> @GearboxProtocol: 8.32% on USDC
Criteria:
+ Only one action needed (one-click)
+ Top DeFi protocols with proven records
+ Large stablecoins (Agora's AUSD is backed by Paradigm and Dragonfly)
2️⃣ How to start farming on Monad in 2 minutes
2.1 If you have USDC, can bridge to Monad via @StargateFinance directly and you'll auto receive 1 MON for gas
2.2 If you want to farm Euler or Morpho, make sure to swap to AUSD on Ethereum first before bridge via Stargate (deeper liquidity + 0% OFT bridge fee)
DYOR. I think Gearbox is the safest choice (USDC + no curator) but Steakhouse on Morpho is a great curator too.
Happy Farming.
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