TerraUSD staking attracts investor interest for its high yield of around 20% APY, and is now supported by Binance exchange.
The yield from staking UST on Anchor Protocol, now around 19.5% APY, is reflected in its new launch on Binance.
Earning interest on stablecoins has become very popular their yield tends to be higher than that of cryptos, and the value of the underlying asset stays stable, not crashing when the crypto markets drop (often all altcoins drop when Bitcoin does).
The Binance Earn program will now support TerraUSD staking alongside their other staking coins. The CEO of Terra, Do Kwon praised Binance for the new listing.
Your capital is at risk.
TerraUSD Staking Binance Announcement
#Binance Staking launches $UST staking with up to 19.63% APY@terra_money
➡️https://t.co/kCjp27H8nl pic.twitter.com/IWMRxHnrnE
— Binance (@binance) April 6, 2022
One issue is that the 19.63% APY only applies to the first $200 you stake (200 UST).
A lock up of 90 days is also required.
The APY is a few percentage points lower – 139.98% – if you stake more than 200 UST for 30 days (which still has a cap of 30,000 UST). Then there’s a 16.85% APY on up to 2,000 UST locked for 60 days.
TerraUSD Staking Platforms List
Another option is Bybit which offers 18% APY on TerraUSD without a cap, there’s no limit on how much of your holdings the 18% interest rate is applied to. Only a maximum amount of TerraUSD staked of 100,000 UST per person.
Then there’s Nexo which offers up to 17%. The base rate is 15% if you receive your payouts in more TerraUSD, if you receive them in NEXO it’s 17%.
We also reviewed Aqru which offers 12% on stablecoins and 7% on BTC and ETH, although is yet to support TerraUSD staking.
TerraUSD staking is also yet to be added to Crypto.com, which pays up to 14% on stablecoins if you stake some of their native coin CRO and commit to three month fixed terms.
Increasingly more crypto exchanges seem to be supporting TerraUSD staking in 2022 however so that may change in the near future.
Crypto savings accounts offer a much higher interest than bank savings accounts so investor interest is mounting. As the saying goes, ‘Bitcoin fixes this‘, or in this case stable coins.
Your capital is at risk.
Source: https://insidebitcoins.com/news/terrausd-staking-now-supported-by-binance