88mph.app — Using sUSD Fixed-Rate Deposits to Maximize your Yield
A step-by-step guide that shows you how to get started from Synthetix and finish your journey on 88mph.app earning a fixed-interest rate on your sUSD.
What is sUSD?
sUSD is a synthetic stablecoin currency that is minted when users stake their SNX on Synthetix. Users can also purchase sUSD on Uniswap or through 1inch (1inch will find the best price through Uniswap, Sushiswap, and other liquidity pools). Check out Synethix’s website to learn more about Synethix and sUSD.
How do users utilize sUSD on 88mph?
Synthetix users are offered a range of options to maximize their yield with sUSD. It’s accepted on many popular lending and farming platforms, and as a result has created a demand for sUSD with attractive rates. At the top of that list, sits 88mph.
In the graphic above, 88mph offers depositors 11.56% Fixed APY on their deposits, with an upfront, 7 day vested MPH reward equal to 46.52% of their deposit rates may have changed since this article was published).
In other words, a user can stake their SNX, mint sUSD, and they can then take their sUSD and park it in a fixed-rate deposit on MPH to generate MPH while their deposit earns fixed-rate interest.
What can users do with their MPH?
Depositors are now free to explore several options to maximize yield. They can stake MPH on the platform to earn weekly payments in DAI (yep, users can earn passive income in the form of a highly liquid decentralized stablecoin), they can short (bet against) the price of MPH during the maturation period by selling their rewards and hopefully buying them back at a lower price at time of reward repayment when they withdraw their deposit, they can provide liquidity via the MPH/ETH pair on Uniswap (see below for link on Impermanent Loss) and then stake in the liquidity mining contract on 88mph to earn both fees and MPH tokens,
Or they can provide liquidity via the MPH/ETH pair on Sushiswap to harvest Sushi tokens.
Users who are willing to expose themselves to impermanent loss can provide liquidity on Sushiswap, farm Sushi, stake their Sushi on Sushiswap to mint xSushi, earn fees on transactions from Sushiswap volume or use their Sushi on Cream as collateral to borrow even more tokens to farm with. INFINITE YIELD ACTIVATED.
88mph offers attractive methods for holders of sUSD to maximize their yield in a number of ways. Decentralized finance is all about unlocking the potential of a user’s capital without the need for a custodian telling them what they can and cannot do with it. 88mph offers one of many ways to efficiently leverage and protect one’s capital.
