The battle to attract stablecoin liquidity has been a trending theme across the cryptocurrency landscape for the past year, especially as decentralized finance users have come to realize the hefty APY that can be earned on dollar-peg assets.
While Curve Finance remains the undisputed leader in interest bearing stablecoin liquidity pools, several new entrants have begun to climb the ranks, including Vector Finance , a protocol that enables Avalanche network users to generate boosted yields on their stablecoin positions.shows that the price of VTX recently underwent a trend reversal as its price climbed 52% from a low of $0.39 on May 1 to a daily high of $0.60 on May 4.
from Defi Llama. This is notable due to the fact that it came during a time of widespread weakness across the cryptocurrency market.The rise in TVL comes as the platform integrated new pools fromTrader Joe, which offer a maximum yield of 69.6% for deposits of JOE/USDC liquidity providers. Vector also offers single staking capabilities for VTX, Platypus Finance and JOE with yields of 12.8%, 144.9% and 117% respectively.Vector finance also added support fo Frax Shares, MIM and UST, with yields ranging from 7.3% to 15.1%.
Source: News Formal (newsformal.com)
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