Lazy Investor's Guide to Wealth Management｜Latest Yield Calculation for Binance USD1 Airdrop; OpenEden Launches New 26.4% APY Pool (January 26th)
- Core Viewpoint: The article outlines several low-risk wealth management opportunities in the current market, primarily focused on stablecoins. It provides a detailed analysis of the potential yield from Binance's USD1 holding subsidy campaign and introduces three on-chain strategies.
- Key Elements:
- The total reward pool for Binance's USD1 holding subsidy campaign is approximately $40 million worth of WLFI. However, the yield is affected by fluctuations in the reward pool's value and the sharp increase in USD1 supply, with the estimated average APY potentially diluted to around 8%.
- ListaDAO, in collaboration with Binance Wallet, has launched a U/USDT LP deposit incentive campaign offering 240,000 LISTA tokens as rewards, with a current APY of approximately 21.29%.
- OpenEden's PRISM product is open for pre-deposits, offering 4.7 million EDEN tokens as additional incentives, with a current real-time APY of around 26.4%.
- Buidlpad Vault Phase 2 offers a fixed 8% APY, supporting assets such as ETH, USDT, and BNB, with a total quota of $20 million.
Original | Odaily (@OdailyChina)
Author｜Azuma (@azuma_eth)
This column aims to cover low-risk yield strategies in the current market primarily focused on stablecoins (and their derivative tokens) (Odaily Note: code risk can never be fully eliminated), to help users who wish to gradually increase their capital size through USD-pegged wealth management find relatively ideal yield opportunities.
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Exchange Wealth Management
The hottest wealth management opportunity at the moment is undoubtedly Binance's recently renewed USD1 holding subsidy campaign.
On January 23rd, Binance announced an airdrop campaign for eligible users holding USD1 on the platform, running from January 23rd to February 20th, with a total prize pool of $40 million worth of WLFI. Eligible users need to hold a USD1 balance in any Binance account category (including spot account, funding account, margin account, USDⓈ-M futures account, with futures or margin accounts eligible for a 1.2x reward multiplier). During the campaign, WLFI rewards will be distributed weekly to users holding USD1. The first airdrop will be distributed on February 2nd, covering rewards from January 23rd, 08:00 to January 30th, 08:00, with subsequent rewards distributed every Friday.
A simple calculation of the yield suggests the result may not meet general market expectations. Overall, there are two main variables: one is the total value of the WLFI prize pool; the other is the total amount of USD1 within the Binance platform.
First, the WLFI total prize pool should be a fixed value of $40 million. However, this morning, World Liberty Financial transferred 235 million USD1 (worth approximately $40 million) from its treasury address to Binance, which is expected to be the total prize pool for this airdrop round. Therefore, over the next month, the total value of this pool will fluctuate with WLFI's price. Considering the current market downtrend and the selling pressure inherent in airdrop rewards, I lean towards the pool's total value experiencing some shrinkage.
As for the total amount of USD1 on the Binance platform, the total supply of USD1 has reached 4.9 billion, with about 4.22 billion located on Binance. Based on this static data, the average annualized yield for this campaign is approximately 12%. However, the issue is that since Binance launched this campaign, the supply growth rate of USD1 has been very dramatic — nearly 700 million have been minted since January 23rd, and the newly minted USD1 largely flows into Binance, which will inevitably accelerate the dilution of the overall yield.
Considering these two variables, I believe the average yield for this campaign will dilute relatively quickly to below 10%, with around 8% being a relatively reasonable final expectation. Based on this standard, unless you already hold USD1 (or stablecoins like USDC with a higher premium than USDT), entering at a premium (e.g., buying USD1 with USDT at its current premium) is no longer ideal in terms of cost-effectiveness.
On-Chain Strategy One: ListaDAO U/USDT LP Incentives (21.29% APY)
This morning, the mainstream BSC lending protocol ListaDAO announced a partnership with Binance Wallet to launch an LP deposit incentive campaign for the stablecoin U.
Specifically, users need to participate through Binance Wallet. The campaign runs from January 26th, 08:00 to February 9th, 08:00 (Beijing Time). The participation method is to deposit U/USDT LP (depositing both U and USDT simultaneously) into ListaDAO via Smart Lend. ListaDAO will provide 240,000 LISTA as incentives, with the current APY around 21.29%.
On-Chain Strategy Two: OpenEden PRISM Pre-Deposit (26.4% APY)
On January 23rd, OpenEden announced on X, in partnership with FalconX and Monarq, the upcoming launch of the tokenized yield investment portfolio PRISM. This product aims to seek stable returns across market cycles with low correlation to cryptocurrency prices through a multi-strategy quantitative model actively managed by Monarq.
PRISM will officially launch in February, but pre-deposits are now open with a limit of $50 million. Currently, $14.43 million has been deposited, leaving significant room. OpenEden will provide 4.7 million EDEN for pre-deposits, with the current real-time APY around 26.4% (primarily from additional token incentives).
On-Chain Strategy Three: Buidlpad Vault Phase 2 (8% APY)
On January 24th, Buidlpad announced the launch of the second phase of its DeFi fixed-term deposit product, Buidlpad Vault, offering an 8% fixed return. Deposits for this phase opened on January 25th, 08:00 UTC, with a limit of $20 million. It supports ETH and USDT on Ethereum, and BNB and USDT on BSC, with a total quota of $20 million.
As of writing, the pool has temporarily received $18.7 million in deposits, with a small remaining quota available for participation.
