Just saw the news from WLFI on April 1st #USD1 set up a vault on Morpho, Monad chain, the first one.
The announcement mentioned a net annualized rate of about 13%, but when I checked it today, it was 8.19%.
It hasn't dropped. The new pool just opened with less capital, so the returns seem high; as more people gradually come in, the returns will naturally level out to normal. Old DeFi players understand this; it's called returning to normal, not unexpected.
Back to the point, this vault itself is a solid positive signal.
USD1 has finally established a legitimate vault on mainstream lending protocols like Morpho. The mechanism is simple: you deposit USD1, the protocol lends it out, others use assets as collateral, and the interest goes to you. Behind it, SteakhouseFi is making strategies, and Reservoir is issuing rUSD as a base, with a clean structure.
Now at 8.19%, what level is that?
It's about two or three points higher than Binance's wealth management. If you don't mind the hassle, you can cross over to #Monad and deposit it; you can indeed earn a bit more. The operation is not troublesome; just go to the WLFI official bridge to cross-chain, and then just enter the vault.
If you find on-chain operations cumbersome, continuing to hold on Binance is also completely fine; the difference isn't much.
My view:
Actually, the most interesting point about this vault is not the specific interest rate number but who it is built upon: Morpho, Monad, SteakhouseFi; putting these together at least shows that they are not just casually setting up a pool to fool around, but genuinely want to expand the scene.
As for whether to move or not, it's up to your habits. If you want to tinker, give it a try; if you're too lazy to move, just leave it.
Anyway, #USD1 itself is stable, and that's enough.
The announcement mentioned a net annualized rate of about 13%, but when I checked it today, it was 8.19%.
It hasn't dropped. The new pool just opened with less capital, so the returns seem high; as more people gradually come in, the returns will naturally level out to normal. Old DeFi players understand this; it's called returning to normal, not unexpected.
Back to the point, this vault itself is a solid positive signal.
USD1 has finally established a legitimate vault on mainstream lending protocols like Morpho. The mechanism is simple: you deposit USD1, the protocol lends it out, others use assets as collateral, and the interest goes to you. Behind it, SteakhouseFi is making strategies, and Reservoir is issuing rUSD as a base, with a clean structure.
Now at 8.19%, what level is that?
It's about two or three points higher than Binance's wealth management. If you don't mind the hassle, you can cross over to #Monad and deposit it; you can indeed earn a bit more. The operation is not troublesome; just go to the WLFI official bridge to cross-chain, and then just enter the vault.
If you find on-chain operations cumbersome, continuing to hold on Binance is also completely fine; the difference isn't much.
My view:
Actually, the most interesting point about this vault is not the specific interest rate number but who it is built upon: Morpho, Monad, SteakhouseFi; putting these together at least shows that they are not just casually setting up a pool to fool around, but genuinely want to expand the scene.
As for whether to move or not, it's up to your habits. If you want to tinker, give it a try; if you're too lazy to move, just leave it.
Anyway, #USD1 itself is stable, and that's enough.