Tokenized stocks have recently been taking the crypto space by storm. It started with Robinhood and its Robinhood Chain, with Coinbase now offering a tokenized stock product and Kraken signing an agreement with Nasdaq for tokenized stocks. So it was only a matter of time for us to start seeing the development and deployment of DeFi yield farms centered around stocks.
Harvest has four different vaults for METAc, AAPLc, NVDAc, and GOOGLc where you deposit your token and they supply IPOR Fusion (Stock Name) Carry Trade, which earns interest AND USDC-denominated token incentives. Frankly, I do not fully grasp how this works because I have never dealt with carry trades before, and that's before you add in the DeFi aspect to this. At every harvest, though, the earned yield is converted back into the stock asset, which I would think would really help compound growth.
Looking at these APYs and the daily APY rates I think I might throw some crypto at this and see how it goes. The rates have stayed high since the vaults launched, and even if they fall back to, say, 10% or 5%, that's still a really good rate of return. Hopefully tomorrow I can find more information to better explain how these vaults work cause right now its hard not to throw $10 or more at it and just see how it goes. If I were to lose the $10, I learned a lesson, but if it happens to work, I mean....
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