Tenor Finance 借贷 USDC/WETH 收益机会

Great find, @EthanDeFi_ 🫡

I don't know much about @TenorFinance beyond their seed round recently led by Variant but it looks like a frontend built on top of @Morpho Midnight with advanced controls (ie renewals).

Since Midnight launched, you can lend USDC or WETH but there's boosted MORPHO rewards while you're waiting for USDC or WETH to match with borrowers.

Lend USDC against WETH: + 1.97% base APR + 16% for pending offers (if offer's below 5% APR) + 32% for matched offers (any rate)

Lend WETH against cbETH: + 1.49% base APR + 13.2% for pending offers (if offer's below 2% APR) + 26.5% for matched offers (any rate)

Lend USDC against cbBTC: + 1.97% base APR + 18% for pending offers (if offer's below 5% APR) + 36% for matched offers (any rate)

TLDR: I would just lend USDC or WETH at market rates so you're matched and maximizing 2x MORPHO rewards. But there is risk more liquidity comes in and dilutes you after you lock in for a 4-week maturity. Also risk of using a new platform (smart contract exploits, etc).

Another idea if you need liquidity and hold WETH, cbETH or cbBTC, we can deposit our own collateral, borrow at the competitive low rates offered (fixed) and lend at the higher boosted rates.

Ex. Deposit cbETH, borrow WETH at 1.27%, lend at 24.6%, but be aware that lent WETH is locked until maturity meaning you'd be unable to close the position unless you have more liquidity elsewhere.

@EthanDeFi_ has a detailed write-up of all this below.

🔗 http://app.tenor.finance/markets