LSDFi and ETH as the ultimate collateral asset

#LSDfi in #Ethereum is hot 🔥 like never before and stablecoins backed by LSTs are making waves across the #crypto space.

These stablecoins generate consistent income through staking, making them yield-bearing assets 🤑

Here's our top LSDFi projects that we are following 🧵👇

Over the past few months, the LSD stablecoin TVL has exceeded $150M+🚀

This is most likely just the beginning.

There are currently more than a dozen similar projects that have yet to reach their full potential.

The #LSDfi narrative and battle is in full swing!

Our top picks for yield bearing LSD stablecoins:

1️⃣ @CurveFinance → $crvUSD
2️⃣ @raft_fi → $R
3️⃣ @LybraFinanceLSD → $eUSD
4️⃣ @PrismaFi → $acUSD
5️⃣ @gravitaprotocol → $GRAI
6️⃣ @taimoney6 → $TAI
7️⃣ @lucid_fi → $DUSD

1️⃣ @CurveFinance - $crvUSD

Curve's stablecoin aims to mitigate liquidation risk by automatically reallocating user collateral into more stable assets when the price experiences a decline.

https://twitter.com/definikola/status/1674430800107044871?t=WEggEFdn2yJsyAskj1Uwig&s=19

$crvUSD can be minted and hence backed by these LSTs:
• wstETH
• sfrxETH

2️⃣ @raft_fi - $R

Raft is allows users to mint the stablecoin $R by depositing LST. The protocol is the most capital-efficient Ethereum USD stablecoin, having a Flash Mint feature that allows for up to 6x leverage!

Raft supports
• stETH
• wstETH
• rETH

3️⃣ @LybraFinanceLSD - $eUSD

Lybra allows users to utilize $stETH as collateral for minting $eUSD. Additionally, users can earn yield from staking, and offers users zero minting fees and zero loan interest.

Lybra supports
• stETH
• ETH

4️⃣ @PrismaFi - $acUSD

Prisma enables the minting $acUSD, and incentives on Curve and Convex allow users to earn trading fees, $CRV, $CVX, and $PRISMA with #Ethereum staking rewards!

Prisma supports
• wstETH
• cbETH
• rETH
• sfrxETH
• wbETH

https://twitter.com/EthereumClub_/status/1674121149117091849

5️⃣ @gravitaprotocol - $GRAI
Gravita Protocol is a decentralized borrowing protocol built upon Liquity's economic model for efficient borrowing and liquidation.

Gravita supports
• stETH
• rETH

6️⃣ @taimoney6 - $TAI

$TAI is a version of the $RAI stablecoin that supports ETH LSDs and has a floating peg.

Tai supports
• wstETH
• rETH
• cbETH

7️⃣ @lucid_fi - $DUSD

Lucid allows you to use ETH-backed assets to borrow a stablecoin pegged to the USD that earns passive interest in your wallet. Not launched yet.

Lucid supports
• stETH
• cbETH
• rETH
• frxETH
• bETH