Staking decision is certainly based on its market performance. I know that still there are stablecoins that are worth trusting and profitable.
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Include the platform where you will stake your stablecoins and the asset you chose. One of the examples here is the UST before with huge APY on Anchor. The APY before was around 20% and when the disaster started to happen to UST, the value of UST is dropping and the drop could reach -20% in just a few hours or a day. It's not worth it, even if you stake to some centralized exchange, you still can't guaranteed how safe they are.
I was actually planning to use one of the following:
https://app.beefy.com/vault/velodrome-usdc-dolaor
https://app.beefy.com/vault/spell-mim-crvSecond one looks a little more safe.
Honestly, when UST was offering 20%, it didn't seem too exaggerated because you could easily find other vaults at 15%–18%. The one I had my money on consisted of BUSD and UST. If I am not mistaken, it was achieving an average of 15%. Due to being made of two coins, it severely minimized my losses when UST crashed. If I were to chase the 5% more in APY, I'd be screwed.
Did you refer to Binance? Their assurance only work if the hacker didn't steal the whole Binance money. If the hacker can get the whole money Binance have, their assurance are useless since they need to recover their operational first, not their customers.
Binance sounds safe enough, I highly doubt that something like this could ever happen. Even if it did, they would be forced to reimburse their users.
yeah the TVL(total value locked) can be indicator as well how much people that deposit into that vault.
I actually have try beefy for several time and it work pretty fine to me and after I checked the link that you give above that beefy give two insurance for the vault the insurace.io and nexus mutual i think its safe. but if the APY don't have huge different between Cex you can choose CEX since they regulated by government
UST at the first place was algorithmic that pegged with their native coin LUNA. we should aware of this and try to move to other stablecoin and i think we also need to diversified to other dollar-pegged stablecoin not just focused in one.
Thus, it's best to look for a vault with a high TVL, since it's showing that it's trusted by investors, right?
CEX looks interesting but offers very limited options, some altcoins and their savings sections are yet to be activated.