Updated May 21st 2022. This survey records the current deposit interest rates for the major stablecoins on the most popular crypto lending platforms.
Across the spectrum of DeFi platforms like AAVE and Compound, or CeFi providers like Nexo and Celsius, the highest deposit interest rates are always paid for stablecoins. Interestingly, it is the centralized platforms, not the DeFi ones, that typically pay the highest interest rates.
In fact, since Mooloo began recording interest rate data in April of 2021, there has rarely been a time when a DeFi platform paid higher interest than a CeFi one. Tether (USDT) is usually the most highly valued stablecoin, with the majority of platforms paying more for Tether deposits than any other stablecoin.
Updated twice weekly, this report surveys interest rates for the Tether, Dai and USDC stablecoins across all the major crypto finance platforms.
Tether – Best Interest Rates For Deposits
Tether (USDT) is usually the most highly valued stablecoin, with most platforms paying more for Tether deposits than any other stablecoin.
Today Nebeus is offering the highest USDT interest rate for Tether deposits at 12.85% APY. Vauld follows at 12.68% and then YouHodler at 12.3%. While there is still much activity above 12% in stablecoin lending currently, major ‘pure play’ DeFi platform Compound is only offering 2.26%. Celsius has recently lowered its rates for all stablecoins, from an average of 8.5% to 7.1%. BlockFi has also recently lowered its rates on all stablecoins except USDT from 7.25% to 7%.
USDC – Best Interest Rates For Deposits
Launched in September 2018 by Circle, USDC is the 2nd largest stablecoin by market cap. Although its daily volumes are only a fraction of Tether’s, it maintains comparatively high-interest rates in part due to investor trust in its auditor’s (Grant Thornton) reports.
Nebeus is currently offering the highest USDC interest rates for deposits at 12.85% APY – then Vauld at 12.68%, followed by YouHodler at 12%.
DAI – Best Interest Rates For Deposits
The smallest of the three major stablecoins, Dai has by far the lowest market cap and daily transaction volume. Despite this, most centralized lenders offer the same interest rates for Dai as for other stablecoins.
The highest DAI interest rate is from Vauld at 12.68%, followed by YouHodler at 12% APY.