For those wondering, here are some of the best @monad yields to farm while they run incentives:
Almost all of the yields are on @merkl_xyz but a few aren't -- and even the ones that are need a bit of context.
🧵👇
The first thing to realize is that the Monad campaign is much smaller than, say, @Plasma, though also substantially less farmed than Plasma.
It's also larger than @arbitrum DRIP (another solid campaign).
There's $65K going to $123M TVL daily on Monad
That's 19% average APR for the whole chain's TVL
There's $235K going to $4.8b daily on Plasma
That's 1.79% average APR for the whole chain's TVL
Monad is theoretically much better in that sense.
First, stablecoin plays.
There are a couple noteworthy, all having to do with @withAUSD.
1) Depositing into @upshift_fi's earnAUSD: 21% APR
2) LPing AUSD/earnAUSD on Uni V4: 50% APR
3) Various Lending on Morpho: 7-10% APR
4) AUSD/UST0 Uni V4: 21%
5) AUSD/USDC/USDT0 Curve: 13%
Note: don't trust Merkl to be up to date with actual TVL numers. The AUSD/earnAUSD says it's 150K TVL but it's really $750K TVL, so instead of 340% APR, you're getting ~70%.
Next, a bit of @Morpho.
You can do some vanilla lending if you'd like.
10-14% if you do. @SteakhouseFi is a fairly conservative curator, and hasn't gotten mixed up in anything bad yet.
I imagine we'll see earnAUSD on there as collateral soon; that would be the major stable to loop, imo.
Likewise when it hits @GearboxProtocol.
I want to like @LFJ_gg so bad. It's a great protocol, it just cannot, for the life of it, attract serious TVL.
That said, there might be a few good plays here for the minnows.
Maybe LPing a MON LST/LRT and shorting MON for a deltra neutral play?
Maybe AUSD/USDC for 30% on 10K TVL?
Unclear, but if you're a 3-4 figure strategist, there might be something there for you.
Remember yesterday when I made that IL EV calculator via Genesis?
Well Uniswap has a pool on Monad that cranked out >600% average APR over the last 24 hours on USDC/ETH.
So if you are farming that pair, you might consider bridging to where the volume and volatility is.
Strangely enough, @AccountableData has their own vault product on Monad.
I don't fully understand it, so wouldn't necessarily call it a top farm play.
BUT, it does get 12% APR in realizable yield and then some additional points from ACC (accountable) and MU that they're valuing at +10% additional.
The strategy itself is doing all sorts of weird stuff that I now want to research, so go check it out I suppose.
Anywho, zero affiliates/ambassadors/sponsors mentioned.
Just a post because I feel like Monad is the current thing to farm and wanted to toss my opinion into the ring.
I hope all your turkeys thaw in time for Thanksgiving 🙏
4,41 rb
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