Editorial Notes (vol. 6) — sAVAX and stETH strategies
In our previous edition of The Grill, we covered a few protocols that offer great opportunities for yield generation on stSOL and stMATIC. This week we're bringing you beginner-friendly strategies for the other tokens you can liquid stake in Omni — sAVAX and stETH.
With yesterday’s 🔥 release of native BNB staking support, we’ll also take a look at a few protocols on BNB Chain, which were not yet featured on our Explore Screen, but were worthy of highlighting.
Let’s dive right in! 🏊♂️
Earn extra yield with these stETH and sAVAX strategies
Omni enables you to easily put your AVAX and ETH to work through our in-app liquid staking integrations, powered by BENQI and Lido respectively. But what to do next, once you get your sAVAX or stETH? Let’s look at a few beginner-friendly strategies and projects that enable them.
Borrow up to 21x against your portfolio of LP tokens, staked assets, and yield-bearing stablecoins with 0% interest on Yeti Finance.
Yeti Finance allows you to take a YUSD loan on many different assets, one of them being sAVAX. With sAVAX in your wallet, navigate to Yeti Finance dApp, where you can take out a loan with sAVAX as collateral. To be safe and avoid potential liquidation due to price volatility, try taking out 1/3 of your collateral position as a loan — it can be more or less depending on your risk tolerance. After receiving YUSD, you can simply deposit it in their Stability Pool to earn an additional ~5% yield or go to Curve and deposit YUSD in their YUSD Pool. In exchange for the deposit, you’ll receive the LP token with which you can partake in the Curve LP farm on Yeti.
Optimize your yield generation with Beefy.
On Beefy, navigate to the sAVAX-AVAX LP pool. Beefy allows you to simply create an LP token from your sAVAX with ZAP⚡ Once complete, you’ll simply deposit an LP token into the pool and start earning a projected 6.6% APY. When withdrawing from the pool, you can once again select to receive the LP token, sAVAX or AVAX.
Yield Yak allows you to easily compound your generated yield.
With Yield Yak, you can optimize Vector’s farm rewards. Instead of going to Vector and depositing sAVAX there, you can easily use Yield Yak’s basic strategy, which auto-compounds Vector farm rewards and generates a 6.65% yield in sAVAX rewards.
Maximize Convex APYs and earn yield in the best DeFi tokens on Concentrator.
Deposit stETH (but don’t stake in the Curve gauge) on Curve stETH-ETH pool. After doing so, you’ll receive stethCRV LP tokens, which you can use in Concentrator. Deposit stethCRV in stETH pool on Concentrator and you’ll start earning rewards which will be swapped to cvxCRV and deposited in the Concentrator auto-compounding pool.
Idle Finance offers different strategies for multiple tokens and allows you to choose the best one depending on your risk profile.
Idle finance provides two different strategies depending on your risk tolerance — Senior and Junior Tranches. When you go to their site, you can decide which one works better for you. Senior tranche receives lower rewards, but has a built-in protection in case of the loss of funds. Junior tranche achieves a greater and leveraged yield by dragging more risk, and in turn, is compensated by the Senior tranche.
Choose among different Yearn vaults to find the best automated strategy for you.
Deposit stETH, but do not stake in gauge on Curve stETH-WETH pool (you’d receive a bonus had you deposited WETH, since the pool consists mainly of stETH). Once you receive your LP tokens, go to yearn vaults and deposit them into Curve stETH-WETH Pool yVault to start earning additional rewards. Yearn stakes the LP tokens on Curve and automatically harvests the LDO rewards, sells them, and stakes them back in the pool to compound the rewards.
With native BNB staking integrated, we have also decided to add some dApps on BNB chain, which you might find interesting.
Trade and find the best NFTs on NFTb — one of the nicest NFT marketplaces.
You’ll not only be able to find and trade the most interesting NFTs on the marketplace, but you can also browse the collectors and creators on the platform, learn more about them and their artwork, and create your own profile as well. One other interesting feature is their Launchpad, where you can see the upcoming projects and more. Soon, they’ll be expanding their gaming NFT support.
Swap BEP-20 tokens and provide liquidity, trade perpetuals, explore the NFT marketplace, and more on BabySwap.
BabySwap is BNB Chain’s one stop shop for everything in crypto. It provides a range of services such as swapping BEP-20 tokens, trading perpetual contacts, staking and farming, and more. For other up-and-coming projects, it also provides needed support to successfully launch projects into the metaverse.
Elipsis — an authorized Curve fork that enables low-slippage stable swapping on BNB chain.
Ellipsis is an automated market maker (AMM) or exchange that allows users and other decentralized protocols to trade between different stablecoins with very low slippage compared to other AMM solutions. Their solution is perfect for creating stablecoin or BNB yield generating strategies on BNB Chain.