30% per year is quite large, and it is bigger than UST. that's why I started doubting this, since yesterday's UST issue I had a bad view on algorithmic stablecoins. plus Justin Sun's poor track record in the crypto space. made me think twice about trusting USDD. it is possible that what happened to UST will be repeated to USDD.
20% of UST seemed very high, then we saw 30% per annum for USDD, but KuCoin surpassed everyone and announced a promotion of 60% per annum for 7 days for USDD stake holders:
https://www.kucoin.com/news/en-usdd-high-profit-staking-enjoy-an-apr-of-60 In this case, the profit received in 7 days will be higher than what you will receive in 1 year in a traditional bank.
Do you know where the profit comes from?
SET is printed when the Terra coin is burned. Therefore, in order to get more UST tokens, you need to burn more Terra coins.
You can buy UST, but then someone else will buy Terra and burn it. Now the most interesting thing: look at how many times the price of the terra coin has increased and what is the annual yield on staking the moon token. It was possible to make a 100% profit, but then it would look like a scam.