In search of a way to do this, I stumbled upon BGUSD, a certificate backed by a basket of RW assets that can be converted to USDC at a 1:1 ratio. It gives an APY of 5%, and its subscription is free for your first 30 days. I am curious to know if there are others so I can compare and contrast before making a decision. If you have found others, please share in the comments.
This is risky and probably a scam. You should stick to DeFi lending like AAVE. Get some stablecoin, supply it and you are good to go.
Though historical patterns don’t guarantee future outcomes but they are can be mostly used to predict future trends. Given the market keeps evolving significantly, the next bear cycle might be less volatile compared to the past cycles. While I’m optimistic about more ATHs this bull cycle, i checked out the BGUSD mentioned, i realized it’s also backed by the US treasuries and offers 5% compounded yields with daily auto-distributed earnings. It’s a fair deal for me as i’m taking advantage of this bullish cycle, accumulating yields on the side won’t be bad at all.
It is a centralized thing that can go bankrupt tomorrow, and all your backing is worthless in that case.