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Health, Wealth, and Happiness

June 19, 2024

"What we fear doing most is usually what we most need to do."

- Tim Ferriss

Howdy, investors!

Want to earn some of that sweet DeFi yield on your crypto investments? Then you'll love this week's look at the best DeFi lending and savings rates.

Base just overtook Binance to become the Layer-2 with the second largest number of DEX users. It's also second largest in terms of total value locked, surpassing $7 billion earlier this month.

Coin Metrics released a deep dive on the different components of project tokenomics and their effects on token valuation and on-chain activity.

Toncoin has made a remarkable turnaround that's put it in the top ten tokens by market cap. Today you'll get to learn more about how you can get started with TON.

Read on!

DeFi Interest Rates: Best Yields for Lending and Saving

by Matthew Du

DeFi interest rates are through the roof, with the top platforms offering almost a 10% APY, compared to <1% for the average U.S. savings account.

Each week, we track the best interest rates paid to depositors at five leading DeFi protocols. (See chart below.)

In our updated guide, we're including an introduction to each DeFi lending platform, and how much you can be earning on each.

Get the full list of DeFi yields here >>

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New Investor Scorecard: TrueUSD (TUSD)

TrueUSD (TUSD) is a stablecoin pegged to the US dollar, maintaining a 1:1 backing with USD reserves. It is issued by Archblock, a U.S.-based company, and is unique in the stablecoin space by providing daily reports of its reserves.

While TUSD remains overshadowed by USDT and USDC, its recent adoption by Binance could be the catalyst it needs to catch up with these two stablecoin giants.

Premium members can download our new TrueUSD Investor Scorecard here to learn what our analysts say about TUSD, its fundamentals, and investing in the token.

Not yet a Premium member? Sign up now to access our tools and tips for becoming a better crypto investor.

Must Read

Today's most important stories for crypto investors.

Base Network Surpasses Binance Chain in Active DEX Users (Defiant)

Base has become the second-most active network in terms of decentralized exchange (DEX) users this month, behind Binance. The majority of Base's DEX users come from a version of Uniswap developed just for Base. In June, Base also reached $7 billion in total value locked, becoming the second-largest Layer-2 platform by TVL behind Arbitrum One. The growth of Base continues to bode well for investors in Coinbase ($COIN), its creator.

Floating On Thin Air (Coin Metrics)

Tokenomics -- the economics of creating a token -- is a crucial balancing act. In this new report from Coin Metrics, they argue that key valuation metrics include circulating market capitalization (which measures current market value) and Fully Diluted Valuation (which projects future value once all tokens are in circulation). Overall, tokenomics involves carefully distributing token supply to incentivize positive long-term user behavior: good tokens have good tokenomics.

Where to Get Started on TON (Bankless)

The TON ecosystem, integrated with Telegram, has been gaining momentum -- especially with its gaming sector, which offers real crypto rewards. Beyond gaming, TON supports liquid staking, low-fee DEXs, lending platforms, and decentralized derivatives trading with up to 50x leverage. With its diverse offerings, TON is positioning itself as a versatile and promising blockchain network. While we were initially skeptical of TON, its performance has shown it has a ton of traction.

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Chart of the Day

Daily average fees for Ethereum

(Courtesy Token Terminal)

The Dencun update accomplished the goal of lowering ETH transaction fees for users, but this also lowered the overall fees being collected by the Ethereum network -- at least temporarily. While Ethereum is now more accessible to more people, overall fees remain higher than we'd like. (The ideal fee is zero.)

Since April, the average user transaction fee has remained below $5. For reference, the last time we saw fees consistently this low was the previous crypto winter in July-December 2022. So fees are moving in the right direction.

Even better for ETH investors: lower fees for users have increased overall usage of the Ethereum network. If this trend continues, ETH revenues will keep increasing, which will benefit the entire Ethereum ecosystem -- and ETH investors.

ICYMI