Yecho

DeFi Chad Verified account @defichad · 3d

been looking at swanUSD on @MonolithMarket (launched by defi ogs)

1) borrow against wstETH at ~1%
2) stake into sSwanUSD, then to the SWAN farm (paying ~22%)
3) earn an equal share of the SWAN drop if staked for 7 days

what makes it different is that the 22% SWAN yield comes from SwanUSD market revenue, currently about 96k/yr.

with ~201k SWAN staked, that's ~141% APR. it’ll come down as more SWAN gets staked, but it’s paid from actual revenue which could grow

there’s also the 100k SWAN drop split equally between wallets holding >1,000+ sSwanUSD for 7 days straight

reminds me of a simpler airdrop era where every participant got an equal amount

there’s about $3m in the market so it’s still early. probably wont be a huge drop, but we'll see how the app/revenue grows

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