How to Earn High Yield on BSC Through Stablecoin Farming

There are a handful of projects that can help boost stablecoin yield portfolios, each focusing on their own attributes.

Introduction

Stablecoins are becoming a big business. The stablecoin market has grown from $5 billion at the start of 2020, to $28.9 billion at the beginning of 2021, to over $92 billion at time of press. Despite this, stablecoins are not always viewed with the same level of interest and excitement by DeFi heads, especially those chasing returns in liquidity pools and through yield farming. There are however a number of ways for users to make solid gains from stablecoin farming and we will cover a few of those here.

Nerve Finance

The Nerve Finance exchange specializes in stablecoins on BSC, calling itself a stableswap platform. That makes it a perfect entry point into stablecoin farming. The signature pool from Nerve Finance is BUSD, USDT and USDC. This pool, also sometimes referred to as the 3Pool, can provide significant gains to users who provide liquidity. First a user must deposit BUSD, USDC, or USDT to the liquidity pool in return for 3Pool Liquidity Pool (LP) tokens (3NRV-LP). Users can choose to deposit any combination of BUSD, USDC or USDT to this pool in service of receiving 3NRV-LP.

As explained by Nerve Finance, 3Pool LP holders benefit from:

Staking their 3NRV-LP tokens to earn their share of 58% of all NRV emissions in one of the highest-yielding stablecoin pools in all of DeFi.

No deposit or withdrawal fee (0%).

Unstaking or withdrawing their liquidity at any time, without a lock-up period.

With the above benefits there is little doubt that Nerve Finance makes stablecoin ownership a lot more interesting. To take part in the pool see full instructions here.

Farmfol.io

Farmfol.io is a more broad-ranging service than Nerve Finance, and is designed as an intelligent portfolio manager. The purpose of farmfol.io is to allow users to easily monitor Binance Smart Chain assets and to offer high-quality DeFi tracking services. There are other ways to interact with farmfol.io however, including with stablecoin farming.

For farmfol.io stablecoin farming the user must have DAI, USDC, USDT and BUSD. From there, the user heads to the autofarm section of farmfol.io and selects the USDT-USDC-BUSD-DAI LP.

Source

This redirects the user to Belt.fi, where users must follow the instructions provided before returning to farmfol.io to complete the process. As the technique is slightly more complex, the complete set of instructions for farming in farmfol.io can be found here

Source : bsc.news

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