What is the best yield available on @SonicLabs?
Preferably something with deep liquidity (>$1m), no IL, single token exposure + audited.
Set that exact filter on @defillama and you'll find Pendle's $stS LP on top. (staked S, by @beets_fi)
But what does it mean to LP on Pendle?
With LP-stS, you're exposed to ALL THESE GOODIES:
👍 APY up to 32%
👍 A basket of rewards including $S, $stS, $PENDLE
👍 Exposure to Sonic points = free @SonicLabs airdrop
FYI LPs on Pendle experience negligible IL upon exit.
Holding to maturity completely removes IL.
HOW TO DEPOSIT?
Head over to $stS LP on Pendle and select the input asset (it will automatically find the best route to swap to $stS).
Link:
Turn on ''Keep YT Mode" for larger deposits to prevent price-impact.
Zap in et voila, all done!
BUT LPs ALSO EARN $S AIRDROP FROM POINTS?
Yes.
With $10k worth of $stS:
-> You will receive 6.85M Sonic points by maturity (8x Sonic points multiplier)
As per our previous calculations, that's around $100 worth of airdrop.
Pushing your effective APY to 38%! 😍
Not too shabby for a ~20% APY unboosted (i.e. no vePENDLE holdings).
For those holding vePENDLE, this can be max boosted up to 38% APY.
As usual NFA NFA NFA.
PS: Link to Sonic Points prediction moonsheet created by @SiloIntern ⬇️
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