As Cryptonoticias reported on July 29, Metamask integrated a new function called to its purse Stablecoin Earnwhich allows users to generate yields with their stablecoins.
At the moment, that option It is only available in the mobile version of Androidand, according to detailed The team behind the Wallet will add that implementation on iOS devices “towards the end of this week.” At the time of this wording, it is not yet active on Apple devices.
The objective of this tool is to facilitate access to Passive income with stable currencies such as USDC, USDT or DAIwithout leaving the metamask purse interface.
Metamk’s new functionality operates through integration with AAVE, one of the main decentralized finance protocols (defi) in the Ethereum network, which allows lend and borrow digital assets through intelligent contracts.
The yield is calculated according to the APy (annual percentage yield) that Offer AAVE in every token. At the time of this note, those annual rates are:
Therefore, a user who deposits $ 1,000 in each of these variants could obtain estimated profits of:
These figures are projected for a year, without taking into account gas rates in Ethereum or possible fluctuations of the APy, which may vary from according to the supply and demand of liquidity in AAVE.
While the yields are not high, they represent an accessible way to generate passive income with Stablecoins from a known Wallet, without the need to interact directly with external defi platforms. MetamSk It does not charge Commissions for that operation.
When using Stablecoin Earnthe funds They are transferred to an intelligent contract of AAVEwhich groups the capital in a shared liquidity pool and delivery in return “ATOKENS “as Ausdc or Adai.
Each Atoken It is equivalent to one more dollar the accumulated yield, and its balance increases as the days go by.
This mechanism corresponds to what is known as Yield Farminga strategy in which the funds remain blocked in a defi protocol in exchange for a return.
Although the user continues to control their private keys from MetamSk, the assets themselves go to be managed by Aave contractswhich introduces an operational dependence of the protocol.
From another recognized Wallet, such as Trust Wallet, the same modality with Stablocoins can be executed from the “Earn” section within its interface. This platform incorporated That operation last May.
Unlike what was offered by MetamSk, Trust Wallet offers greater returns.
For example, at the close of this article, to USDC offers an APY of up to 10.18% Through the Morpho protocol, a platform similar to AAVE that allows users to deposit assets, such as stablecoins or cryptocurrencies in liquidity pools to provide them and gain interest.
Finally, as for the Token issued by Tether, Trust Wallet offers an APY of up to 4.34% for USDT.
