Why does Blast allow idle ETH and stablecoins to generate interest?
Because Blast is basically a combination of LSD + L2, the ETH and stablecoins on the chain can be imagined as LST tokens.
With the popularity of Blast, there is a high chance that the LSD craze will be ignited again in the near future. Today, letâs select the LSD protocols on the market that are worth paying attention to.
This article will start from the bottom layer of LSD Lego and build the entire LSD track step by step from bottom to top. At the same time, we will also tell you the characteristics and profit opportunities of each agreement.
So, letâs get started!
1. Underlying Pledge Agreement
The bottom layer of LSD Lego is definitely the pledge agreement. The following three are the projects with the highest TVL on the LSD track.
Lido Finance - 3.6% APR
Rocket Pool - 3.25% APY
Frax Finance - 3.99% APR
Lido is currently the leader, accounting for more than 30% of the ETH pledge share, so there has always been the concern of over-concentration.
If you want to ambush airdrop opportunities while staking $ETH , consider Swell Network.
Swell is currently running a Voyage airdrop. As long as you pledge the LSD token $swETH or provide $swETH liquidity on DEX, you can obtain "pearls". These pearls will represent airdrop shares when the currency is issued in the future.
2. LSD mortgage loan
After LSD matured, lending agreements using LST as collateral began to appear, and even interest-bearing stablecoins were minted.
Lybra Finance - Mint $eUSD. Offering 7% APR
Prisma Finance - Mint $mkUSD. Offer 5~10% APR
Gravita Protocol - LSD Lending
Lybra Financeâs interest-bearing stablecoin offers 7% APY.
In addition, if you pledge 2.5% of the loan value of dLP, you can also receive a platform currency esLBR reward of 16% APR.
However, the disadvantage is that esLBR must be locked for 90 days before it can be withdrawn.
After the recent launch of LybraFinance V2, LSD Lego has added another layer to its stack.
Lybraâs various LST pools can stake governance tokens for bribes and compete for $LBR rewards. Similar to Curve, a wave of "Lybra War" will begin next.
The first protocol to join the fray is Match Finance.
The biggest difference between MatchFinance and Lybra is that you can earn profits by depositing only one of LSD or dLP.
The protocol automatically matches the ratio between the two and mints eUSD to earn the maximum esLBR reward. The APY of staking dLP reaches 66%, and staking ETH can reach 20%. In addition, the protocol has announced airdrop rules, and you are eligible to participate in staking.
3. LSD interest rate trading
The emergence of LSD also gave more room for changes in "profits".
The interest rate trading protocol Pendle Finance tokenizes earnings and can even be used as collateral to create more new ways to play.
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