You can earn 57% yield on stablecoin (BUSD) by depositing it in liquidity pool on No sign up, no KYC, no deposit/withdraw limits, no territory restrictions.
Or you can earn 0.03% yield on stablecoin (USD) by depositing it in a bank.
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That’s like saying depositing into the ETH/USDC Uniswap pool is yield on USDC when you actually hold only 50% USDC. Advertising the current iteration of Thorchain as vanilla yield on a single asset is one of the reasons why people are annoyed with Thorchain advertising.
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That's fair, however a couple points...
1) You can deposit/withdraw single-side (BUSD only). You don't need to acquire RUNE.
2) There is IL protection so long as you don't withdraw for 100 days.
So user is effectively getting yield straight on BUSD, but it's nuanced.
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1) Banks get stollen from all the time. Taxpayers bail them out through FDIC.
2) Thorchain did get hacked, yet nobody lost any money.
Thorchain is experimental, risky, new technology. If you're looking for a "safe" way to lose 5% of your money every year, stick with the bank.
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I don’t understand. 388% on erc20 Thorchain, but it only costs 1.60? 🧐
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That's confusing. "THOR" is not "RUNE". THOR is a community project with a different token, and the APY is juiced by liquidity mining rewards.
RUNE is the native asset of Thorchain.
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