[Digital Today reporter Chi-gyu Hwang (황치규)] Liquid staking protocol Lido has launched EarnUSD, its first stablecoin vault, The Block reported on Wednesday.
EarnUSD uses USDC and USDT and provides returns by blending conservative lending positions with higher-yield strategies. Users can earn compound returns through the EarnUSD (earnUSD) token. Lido launched the Earn product line, including EarnUSD, earlier this year.
Lido is also introducing EarnETH. It generates yield by allocating unETH, WETH and stETH to DeFi protocols such as Aave, Uniswap and Morpho. Users can receive interest income through the earnETH token.
Lido said the update simplifies the Earn product line into two vaults. Lido DAO announced it will deploy $5 million of its own assets into the Earn vaults and will cover losses if problems occur.
Chi-gyu Hwang
delight@d-today.co.kr