Article source: Golden Finance
Author: Sleeping in the Rain Source: substack
Currently, there is a very obvious phenomenon in the market, which is the severe differentiation of user groups — some are participating in primary offerings, some are chasing hotspots in the secondary market, some are all-in on AI Agents, some are exploring Layer 1s other than SOL and ETH, and some are looking for mining opportunities.
However, it must be mentioned that while mining in a bull market may not be as exciting as trading coins, the returns are still quite considerable, such as the $M3M3 LP pool on Solana and Pendle's $USD0 pool.
Today, I want to discuss a yield opportunity on BSC — @AstherusHub.
Currently, the TVL of Astherus asBNB is 35M, and the APY is 31.47%.
Let's take a look at the composition of returns for Astherus asBNB:
1. Binance Launchpool and other BNB-related activities (such as Hodler Airdrops) yield (34.17%) + the inherent liquid staking yield of slisBNB (1.43%)
P.S. The distribution process for Hodler Airdrops: After ListaDAO receives the relevant tokens, it converts them all to BNB and sends them to Astherus, which then exchanges the BNB for asBNB and distributes it to users. Users need to claim it on the Astherus frontend.
2. AU Points (currently minting asBNB grants a 10x AU Points multiplier)
3. ListaDAO Airdrop (1 dollar worth of asBNB can earn 19 stardust, and the stardust earning efficiency of asBNB is higher than that of slisBNB, with slisBNB earning 15 stardust per dollar)
Additionally, Astherus has a stablecoin product $USDF (1:1 exchange with USDT). USDF is similar to Ethena's USDe, with returns sourced from the fees of short hedging. The AU Points multiplier for USDF is 5x, with a 30% APY.
To add, during non-Launchpool periods, users can mint asBNB immediately. If asBNB is minted during the Launchpool period, users need to wait for the Binance Launchpool rewards to be issued + asBNB NAV update, which generally takes about 3-5 days after the Launchpool rewards are issued to receive asBNB. During this waiting process, users can still earn AU Points.
Let's take a look at the introduction and background of the Astherus project:
P.S. Astherus received strategic investment from Binance Labs on November 28.
Overall, BSC is still following the Ethereum model, from the foundational setup of DeFi to LSD liquid staking, and then to Eigenlayer Restaking, all layered one on top of another. Currently, BSC's core remains Pancakeswap and ListaDAO. ListaDAO's expansion of BNB lies in liquid staking, and Binance Labs' investment in Astherus aims to promote BNB's Restaking, which is also a layered approach. By the way, we can look forward to Pendle's support for Astherus points.
Thena is the ve33 on BSC, and its rise may be related to the prosperity of the chain's ecosystem, or cabals could drive ecosystem development by pumping ve33 tokens (like Base's $AERO). Therefore, whether $THE can rise depends entirely on whether the BSC ecosystem can develop, or whether Binance has the motivation/incentive to pump $THE to promote BSC's ecosystem prosperity. Furthermore, some of Binance's actions reflect its level of attention to the BSC ecosystem, such as listing BSC tokens. Thus, I remain optimistic about $THE's performance from the end of this year to Q1 next year.
