InfiniFi is a DeFi platform on Ethereum that lets users earn passive yield on stablecoins through two main options: flexible deposits with lower yields, or fixed-term lockups with higher rewards. Deposits mint iUSD, a liquid staking token that can also be used across other DeFi protocols, or can be locked for those higher yields. The platform emphasizes simplicity and doesn’t use leverage, and it’s integrated with major DeFi protocols including Pendle and Ethena.
Today we’re going to take a look at a rapidly-growing platform called InfiniFi, where you can pick up some solid yields on deposited stablecoins, with options for lower yields and more flexibility, or higher yields, but with fixed lock-up periods.
What Is InfiniFi?
Built on the Ethereum mainchain, InfiniFi sums itself up very clearly in three sentences: “Higher yields. No leverage. Better than banks”. And that gets to the heart of why it’s such a useful protocol–from a user point-of-view, it’s relatively no-nonsense and not excessively risky.
Also, it offers higher yields if you’re willing to lock up your stablecoins for longer, fixed-period terms, so if you have a stack of stables that you don’t need to touch anytime soon, then you can deposit, forget about them, and pick up some decent returns.
InfiniFi works by letting users deposit stables and mint InfiniFi’s iUSD token in return, after which deposits generate yield through a wide range of farms, including through integrations with protocols such as Ethena and Pendle. Additionally, InfiniFi has a points program operating, offering additional rewards to users.
When it comes to the numbers, the founder of InfiniFi–known as RobAnon–posted last week that TVL on the platform has now surpassed $122 million, and so the protocol’s native stablecoin, iUSD, has climbed the ranks to become the 36th largest stablecoin.
Be aware that the usual DeFi risks apply when using IniniFi, including the possibility of frontend attacks, smart contract vulnerabilities, stablecoin de-pegs, and systemic risks across DeFi and crypto. For detailed risk disclosures, please check the InfiniFi documents.
How to Use InfiniFi
To get started, click where it says Deposit at the top of the website, and you’ll be directed to the InfiniFi app. You need to connect your wallet here–remember the protocol operates on Ethereum–and by default you’ll land on the Earn page.
InfiniFi Earn
This is the simplest option, as all you need to do here is deposit USDC for staking, and receive iUSD, which acts as a liquid staking token, in return.
This straightforward process currently rewards users with a solid 10.16% APY, based on trailing 7-day averages, although there is no guarantee that future returns will stay at that figure.
Note that the Earn facility is marked as using the Senior Tranche. InfiniFi uses two tranches–Junior and Senior–and Senior is the more secure of the two, as deposits here are insured against losses by the Junior Tranche.
To make a deposit, enter the amount you want to deploy (supported stablecoins here include USDC, USDT, and Ethena’s USDe), and then click through to initiate the process, signing in your wallet when prompted. Having made a deposit, you can then click on the Portfolio tab to monitor your position and your earnings,…
