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Giga quants at @GammaSwapLabs figured out how to run Ethena-style basis trade on AMM yields. Works with any token. First up is ETH. Currently 38% APY.
Read that again.

1.8. klo 09.14
We just opened up the gETH yield token to the @GammaSwapLabs discord community and will be making the full announcement here on X soon.
This is 38% yield on ETH. Real yield compounded back into your position. Your tokens are also fully composable and can be used to earn even more yield. DeFi black magic 🪄
1 ETH in a year will be 1.38 ETH. These returns aren't like stablecoins where you get paid 5-10% APY but who knows how much you are up in real terms given inflation. This is 38% yield on an asymmetric asset. If ETH does a 10x in a year, the dollar value of your 38% yield also increases 10x.
Note: APY is averaged since the last deposit window and TVL updates every deposit queue (every 24h).

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