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- How I'm Staking Three Tokens and Earning 200%+ APR in USDC, ETH, and ARB
How I'm Staking Three Tokens and Earning 200%+ APR in USDC, ETH, and ARB
Stake one token and earn another. Learn about three ways I'm earning income as the market chops.
Image by the author using dall-e
The financial markets are grinding away. Everyone has their opinions:
"Bitcoin is going to break out in a face-melting rally," one analyst who accurately called the 2016 summer swing low in Bitcoin said.
"Altcoins season is two weeks away," said a market strategist with 514,253 Twitter followers.
"Everything is going to crash as liquidity is exiting the system," said a Scorpio hedge fund manager, short on the market.
It doesn't cost anything to make predictions. And if they go the wrong way, it's ok. They will just come out with a new thesis and move on to the next narrative.
And, while I'm tempted to YOLO in on the latest memecoin in the hope of instant riches, I know that based on my memecoin track record, it's probably not happening. So instead, I am focusing on preserving my capital until the next bull run occurs. One way I am hedging myself is by investing in crypto assets I can stake to earn blue-chip assets.
Staking and earning in kind is great when the market goes up, and the compound effect magnifies your rewards, but unfortunately, it also works in the opposite direction. Here are a few crypto assets I am staking to earn USDC, ETH, and ARB.
We are discussing high-yield staking rewards, so understand that the underlying assets are risky and volatile. However, it's nice accumulating blue chips that should grow in the next bull market.
Staking Asset #1 DCA
Token price at the time of writing: $0.00168
Chain: Arbitrum
DCA staking rewards: 288.47% in USDC
Autodca.io is a platform I've written about a couple of times. It has a unique service allowing investors to DCA into crypto assets directly from their wallets. Recently, Autodca added the ability to accumulate ETH on zkSync, and they have about a dozen other assets on Arbitrum available to DCA.
The project has relatively deep funding, and the token price is greatly depressed from its TGE price of $0.005. Currently, I am staking my DCA tokens and earning USDC. I can claim or compound the USDC into more DCA with a 20% bonus.
The USDC funds are from the liquidity raise and are non-inflationary. However, they are limited to a total of 90 days. The platform focuses on becoming profitable in that period to encourage staking beyond 90 days further. Once DCA is staked, there is a 30-day hold period until you can withdraw your tokens, so keep that in mind if instant liquidity is important to you.
DCA Token Address: 0x965f298e4ade51c0b0bb24e3369deb6c7d5b3951
DCA is traded at: https://app.zyberswap.io/exchange/besttrade
Staking website: https://autodca.io/staking/dca
Staking Asset #2 neadRAM
Token price at the time of writing: $0.035
Chain: Arbitrum
neadRAM staking rewards: 228.9% in wETH and 207% in neadRAM
neadRAM is the wrapped version of the Ramses Exchange token, RAM. Ramses Exchange is a Solidly fork I have also written about in depth. neadRAM is used on The Ennead, a second-layer decentralized application built for optimizing Ramses Exchange.
The neadRAM and RAM token have been beaten up lately as Chronos Exchange recently launched on Arbitrum, stealing much of the Solidly fork attention. However, Chronos' mechanics differ from Ramses/The Ennead, and while both platforms have unique and valuable approaches, I retain my high conviction in Ramses/The Ennead.
Further, the Arbitrum ecosystem is large enough to support multiple Solidly forks. neadRAM generates real income from bribes on Ramses Exchange and by charging a fee to liquidity providers who stake in The Ennead staking pools.
neadRAM typically trades at a slight discount to RAM, but it is liquid, and the rewards stream daily. I like that I earn dual rewards (wETH and neadRAM), can compound my neadRAM rewards, and accumulate wETH.
neadRAM Token Address: 0x40301951af3f80b8c1744ca77e55111dd3c1dba1
neadRAM is traded at: https://beta.ramses.exchange/swap, or it can be converted from RAM at https://beta.ennead.farm/convert
Staking website: https://beta.ennead.farm/stake
Staking Asset #3 AICODE
Token price at the time of writing: $23.22
Chain: Arbitrum
AICODE staking rewards: 1,053,732% APY in ARB
AICODE is the utility token for the Arbdoge.AI ecosystem. Arbdoge.AI is a memecoin that has plans to expand to have additional use cases aside from being a memecoin. The Arbdoge.AI token was given as an airdrop to anyone who received the ARB airdrop. If you haven't claimed yours yet and want to learn more about it, I wrote the details in Get Your Free Airdrop for ARB Recipients.
When AIDOGE investors buy or sell the AIDOGE token, there is a 15% transaction tax. A portion of these taxes is used to purchase ARB tokens distributed to AICODE stakers. Ideally, transaction volume will remain high on AIDOGE, leading to more tax revenue and more ARB rewards.
The ARB rewards rate is in APY, so it's a bit deceiving. APY considers the investor compounds their rewards daily, which is significantly higher than an APR.
The AICODE price has decreased dramatically in the past few days, but it has a couple of catalysts that can make it move quickly: 1) its price is directly correlated to AIDOGE (this can be good or bad). 2) A new NFT is getting launched that will be purchased using AICODE.
AICODE Token Address: 0x7c8a1a80fdd00c9cccd6ebd573e9ecb49bfa2a59
AICODE is traded at: https://app.camelot.exchange/. Investors can also burn AIDOGE and get AICODE or purchase at least $500 worth of AIDOGE on Camelot.exchange and get AICODE as a trading mining reward. Learn more here: https://arbdoge.ai/aicode.
Staking website: https://arbdoge.ai/earn
Key Takeaways
DCA, neadRAM, and AICODE all have thin liquidity right now, so large investments can greatly impact the prices. They are also speculative assets (like everything else in crypto). However, I like that all three provide rewards that are not inflation-based. And, as I've mentioned, I like that I'm earning blue chip crypto assets.
It's nice to harvest my rewards every few days. Also, all three of these assets have the potential to climb dramatically because of how new they are and their limited circulating supply.
If you have questions, please read the project's documentation and visit their Discords/Telegrams.
At the time of writing, I own and stake neadRAM, DCA, and AICODE. I haven't been paid or sponsored to write about these projects.
This information should not be taken as investment advice. Digital assets like crypto and NFTs involve risk, so you should always perform due diligence before investing. Furthermore, this article is my opinion; I am not a financial advisor.
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