Degens only: 31% APR on stable coin staking + bribes money 🕺🕺
Well, to be honest, this is the less risky side of degen 🤪 Beethoven X still has a great option for you to stake your USD for a juicy 31% APR. But, there’s more, read on to see how much you can make from the BEETS wars bribes.
Introduction
If you are not involved in the Beets wars, then feel free to head over to a series I wrote up recently.
In a nutshell, get involved in Beethoven for good APR’s, but also start voting to receive additional bribes from the winning pools every 2 weeks. As much as $17 for every 1000 beets.
So, not bad, with a current price of $0.59, not only can you earn a 50% APR, but every 2 weeks, you can earn from $12 — $17 in bribes.
NOT BAD HEY 👍👍👍
Due diligence
BEETS seems to have found its support and certainly has rebounded recently to find its range around the $0.50 level.
While, our pool of choice is “One God Between Two Stables”, you can see a healthy $80 million APR.
Your risk factor is the DEI keeping PEG, so keep an eye out and try to make sure you invest when its at peg, otherwise there is a small impermanent loss risk.
If you withdraw, you can try and time it when your coins are back at a 50/50 split to lower your IL.
What to do with your rewards
Remember to come in and harvest and since I am bullish on BEET’s, I am investing those in the Fidelio Duetto pool. This gets you a voting steak in the BEETS wars.
If you are not as bullish, you can swap for USDC/DEI and compound.
Conclusion
Beethoven remains a bullish choice. I keep a close eye on the APR and will withdraw if it drops below 20% and move back to Anchor Protocal.