Few days ago I mapped out where $USD1 yield was actually sitting across venues.
The picture has kept moving since then with @Gate launching soft staking on USD1.
Users that hold it in their assets account, earn up to 20% APR in $WLFI rewards, no lockup, distributed daily.
APR adjusts each morning depending on total platform holdings and remaining reward budget for the month.
So it moves, but the structure is clean.
What keeps this interesting to me is the underlying.
USD1 is collateralized by short-term US Treasuries and cash equivalents.
So it feels like like holding a reserve-backed dollar peg and the yield comes on top.
In a market where most people are already in stables waiting for a direction, that distinction matters.
