I've been keeping a close eye on the market, particularly on SUI... Why? You can watch my short YouTube video on Sui blockchain here: https://youtube.com/shorts/HauGxe136Lw?si=JC24rLKtRv4lsLSi
I'm sure you've noticed that SUI has been on an absolute tear lately. This token has tripled in value in just a few weeks, leaving many of us wondering if it's too late to jump on the bandwagon.
However, I've discovered at least three ways to earn SUI without buying it... Let's go!
A. USDC Lending on Scallop at 15% APY
I've been using the DeFi lending protocol Scallop for a while. It has been audited (DYOR, as usual). It currently offers 15% APY on USDC (Wormhole bridged), including 10% in SUI... To get USDC on Sui blockchain, you can use portalbridge.com to transfer your USDC from Solana to Sui, then Cetus to swap USDCsol to USDC (Wormhole bridged). If you're interested, you can use my referral link to get started: https://app.scallop.io/referral?ref=66f11bc36307e2d57bac2317
B. USDC Lending on Navi Protocol at 14% APY
I've been also using Navi Protocol to earn a whopping 14% APY on my USDC. If you're interested, you can use my referral link to get started: https://app.naviprotocol.io/?code=493320019543855104
C. USDC Lending on Suilend at 14% APY
Suilend is another DeFi lending protocol on Sui blockchain, offering good incentives, and still tokenless... By depositing USDC on Suilend, you can earn an annualized rate of return of over 14%. But the real kicker is that all the airdrop points come from lending behavior. Here are some strategies I've been using:
- Deposit USDC, borrow ETH, and deposit ETH in Scallop or Navi to earn interest rate spreads. This can yield over 15% annualized returns plus Suilend points.
- Deposit ETH/SOL, borrow USDC, and deposit USDC into Scallop, Navi or other protocols. This can yield over 10% annualized returns plus Suilend points.
While SUI has already seen massive gains, I believe it's not too late to get involved. By leveraging lending platforms like Scallop, Navi or Suilend, I can earn attractive interest rates and position myself for future airdrops.
However, it does not come without risks - e.g., smart contract vulnerabilities, liquidation due to crypto volatility, etc. So, as usual, DYOR...