money printer go brr

The polygon network is printing free money right now and you're probably missing out..

I was going to write a post about low-risk strategies in DeFi right now, but this is too timely to put off.

If you're reading this, you're probably missing out on the free 1%+ daily interest on stables right now.

Let's jump right in:

Beefy has a particularly convenient (though kind of hidden) feature that lets you "zap" one of the LP pairs straight into LP tokens and deposit into the beefy vault:

click on IRON-USDC QLP for the drop-down

If you're using, say,, you'll have to manually convert your IRON (or USDC) into LPs. Personally, I've been using beefy for months, and I highly recommend them. Their token $BIFI earns you a cut of their protocol's revenues -- 80k were minted and the minter was burned -- and a cut of the vault performance revenue is used to buy-back and redistribute $BIFI to $BIFI stakers...

Now, why is this basically free money? Because IRON is demonstrably stable, and thus the IL on your IRON-USDC liquidity is nearly zero. Moreover, the mint and redeem functions offered from within the protocol have created a ridiculously consistent price-action pattern with TITAN (the volatile asset backing IRON):

  • when TITAN dumps, arbitrageurs quickly buy the dip and sell the TITAN back to (in the form of IRON minting)
  • they then sell the IRON for USDC, temporarily flooding the market, where
  • cheap IRON is then purchased and sold back to (in the form of IRON redeeming)

You could have witnessed this virtuous cycle happen over and over again across the last few weeks. What's more: this arbitrage strategy is creating a ratcheting price-floor for TITAN.


IRON-USDC price fluctuations



TITAN-USDC price action


So now the only question you might have is: how do I get my stables over to polygon? There are lots of ways, but I'll just outline a few that avoid the Ethereum mainnet:

  • you can withdraw USDC and MATIC from AscendEX straight to the polygon network. Here's my referral code (we split the commission).
  • you can bridge from the BSC to polygon using the EVO Bridge (they take a 0.5% cut).
  • you can bridge from BSC, Fantom, and Ethereum mainnets using Anyswap (here's their BSC <> Polygon tutorial) -- full disclosure: I've never used this bridge.
  • if you're lucky, has exit liquidity on polygon (and they bridge from xDai, Fantom, and BSC).

I've used both xpollinate and Ascendex. While I prefer xpollinate, as it has an incredibly tiny fee, the liquidity just isn't there. So if you need a speedier way to get your stables to polygon, look to the other options above. With regards to AscendEX: their USDT/USDC orderbook isn't always super liquid, so you should expect slippage on the exchange.

If you need any help, feel free to post in the comments and I'll do my best.

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I'll try and use this platform to outline some of the more important lessons I've learned of observed through my journey of DeFi degeneracy. The general goal is to demonstrate various strategies that are intended to be easy to deploy, and generally lower-risk. This is still DeFi, after all; so, you're always exposed to higher-than-normal levels of risk.

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