7 Alternative Chains with the Highest Yields in Crypto
This week I want to highlight some other chains to store your assets on that can provide the highest yields in crypto. There are so many ways to make good money in crypto right now, especially if you take a mercenary capital point of view. That is to say your capital is not wedded to one chain or protocol, you are willing to move your money where the yields are best. I want to be clear that there are many risks when using defi. Often you need to bridge assets to these chains from other chains, which is a risk as we have seen many high level bridge attacks with hundreds of millions lost. These are new platforms, and smart contract exploits can result in losing all of your funds. I am also only looking at “safer” plays, so no leveraged plays here! That being said, let’s look at some opportunities for earning the highest yields in crypto. PS This is far from an exhaustive list, just a few highlighted opportunities.
<h2 id=”1.-astar’s-starlay-finance-on-polkadot”>1. Astar’s Starlay Finance on Polkadot
Defi Dad covered this in-depth, in last week’s DeFi Tutorial, but this is a VERY hot and high yield platform on Polkadot based Astar Network. It is currently offering single sided deposits for stables and core assets. The Dai Stablecoin is offering 27%, Wrapped Bitcoin 16%, and Wrapped Ethereum 26%. These are incredible rates, and it is important to note that when the LAY rewards are released the APR could end up being quite different.
<h2 id=”2.-fantom’s-spookyswap”>2. Fantom’s Spookyswap
The big boy on Fantom when it comes to total value locked, but even with that being the case it still has some of the highest yields in crypto, in their farms. Even their USDC- DEI stablecoin pool is offering over 30%!!!!
<h2 id=”3.-avalanche’s-echidna-finance”>3. Avalanche’s Echidna Finance
A platform operating on top of Platypus Finance which is a stablecoin swapping protocol on Avalanche. It is a relationship similar to Curve and Convex Finance on Ethereum. Anyway, they are offering single sided stablecoin deposits with up to 19.1% for UST.
4. Avalanche’s Newly Launched Yeti Finance
This has a pool whereby you deposit their native stablecoin YUSD and you will get 46% APR rewards paid out in the YETI token.
<h2 id=”5.-solana’s-orca”>5. Solana’s Orca
A big swapping and farming app which has lots of great rates for a wide range of Solana based altcoins. It is a good alternative to Raydium. Their new whirlpool feature offers some tasty yields on stable pools around 15%, and around 80% on stablecoin / Solana pools.
<h2 id=”6.-oasis-network-valley-swap”>6. Oasis Network Valley Swap
This has some yummy farming rates at 26% for the USDC/USDT pool and much higher rates for ROSE based pools although impermanent loss becomes a concern.
<h2 id=”7.-cardano’s-minswap”>7. Cardano’s Minswap
This is being included as an honorable mention here. Currently the stablecoin scene on Cardano is basically non-existent and there appear to be no wrapped assets being used by the major defi protocols so that means no Bitcoin pools and not even wrapped ADA pools. However, there are some pretty juicy rates for those looking to get involved in Cardano defi, for example 137% for the ADA/MIN pool and 90% for the ADA/DANA pool.
There are many higher yields to be had out there in crypto, on these platforms and others if you look into farming incentive programs for more exotic altcoins. These can often be in the high triple digits. That being said there are also considerable risks. To be clear you do not have to try and get into all of these pools, or any of them. The intention here is to highlight that there are some great rates available across the blockchain space so if you’re looking to get the highest yields in crypto for your tokens, this is a great start.