Weekly Analyst Thoughts
Defi recently welcomed a new development to its space: Curve Pool. Curve Pool brings together stablecoins and wrapped tokens and offers liquidity pools for investors to contribute to.
Below is a snapshot of their website and the potential returns (APY) investors can earn by joining their pools. Notice that Synthetix token (SNX) offers multiple rewards in SNX for providing liquidity to its stablecoin (sUSD) and its synthetic bitcoin (sBTC).
Synthetix app Mintr, pictured below, promotes opportunities to earn SNX with Curve pool.
In summary, if you are holding SNX, REN or other stablecoins, but not using Curve pool to provide liquidity and earn interest on your holdings, then money is being left on the table. If this post sparks your interest in Curve pool, consider the sBTC pool (pool 6) because it gives investors exposure to multiple tokens as they could earn SNX, REN, BAL and CRV.
By Jacob Stelter