Stablecoin Yield Farming Guide: 7 Ways to Earn Up to 70.4% APR

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As crypto markets rebound and volatility rises, demand for stablecoins continues to grow. In decentralized finance (DeFi), this surge has opened new doors for yield farming with stable assets. This guide explores seven promising stablecoin liquidity mining opportunities offering annual percentage rates (APRs) as high as 70.4%. All data is current as of November 2025.

Whether you're a seasoned DeFi participant or new to passive income strategies, these protocols offer compelling incentives backed by real yield, token emissions, and innovative economic models.

Maverick: GHO-USDC Pool with 70.4% APR

Maverick is a next-generation decentralized exchange (DEX) backed by leading investors like Founders Fund and Binance Labs. It introduces dynamic liquidity positioning that adjusts based on price movement, enhancing capital efficiency.

One of its most attractive pools is the GHO-USDC pair on Ethereum. GHO is a stablecoin issued by Aave through over-collateralized positions. Despite its solid backing, GHO has struggled to maintain its $1 peg due to limited use cases. To counter this, Aave has launched liquidity incentives to stabilize the token.

In Maverick’s static mode GHO-USDC pool:

This pool rewards liquidity providers (LPs) with 5,000 GHO tokens daily. Additionally, Maverick offers a bidirectional mode pool where liquidity shifts with price changes:

👉 Discover how dynamic liquidity can boost your returns in top DeFi protocols.

Velodrome: USDV/USDC at 32.35% APR

Velodrome is the leading DEX on the Optimism network, known for high-yield farming opportunities. One standout stablecoin here is USDV (Verified USD) — a novel RWA-backed stablecoin.

USDV is built on the Omnichain Fungible Token (OFT) standard via LayerZero, ensuring seamless cross-chain interoperability without fragmented liquidity. Its underlying asset is STBT, a tokenized U.S. Treasury bond issued by Matrixport through a regulated SPV structure.

What sets USDV apart is its ColorTrace Algorithm, which assigns a unique "color" to each minted token to track origin and reward verified minters based on their contribution to circulation.

For regular users, USDV behaves like any ERC-20 stablecoin but benefits from yield-generating collateral. While end holders don’t directly earn treasury yields, the protocol uses them to fund ecosystem incentives.

On Velodrome:

Other platforms also support USDV:

Canto: cNOTE/USDC at 22.43% APR

Canto has evolved from a general-purpose blockchain into a specialized platform for real-world assets (RWA). A key component of this shift is cNOTE, the interest-bearing version of NOTE — Canto’s native over-collateralized stablecoin.

Users can mint NOTE using USDC or USDT as collateral. When deposited into Canto’s lending market, NOTE earns interest and converts into cNOTE, which increases in value relative to NOTE over time.

This mechanism creates organic yield even before entering a liquidity pool.

On Canto DEX:

To participate:

  1. Deposit NOTE to receive cNOTE
  2. Provide liquidity with USDC
    Or:
  3. Mint NOTE using USDC/USDT
  4. Convert to cNOTE and add to the pool

This dual-layer yield model — from lending interest and farming rewards — makes it a compelling long-term play in the RWA narrative.

Cetus: USDT/USDC at 20.49% APR on Sui

Cetus is the leading decentralized exchange on the Sui blockchain, leveraging its high-speed, low-cost infrastructure for efficient trading and liquidity provision.

The USDT/USDC pool on Cetus offers:

These stablecoins are bridged via Wormhole from Ethereum, ensuring strong backing and reliability.

Cetus supports concentrated liquidity, allowing LPs to allocate funds within tight price ranges for higher capital efficiency. However, this also increases impermanent loss risk if prices move outside the set range — regular rebalancing may be required.

Other Sui-based DEXs also offer competitive yields:

All reward LPs with SUI tokens, Sui’s native currency, adding long-term upside potential beyond just APR.

Thala: MOD/USDC at 20.53% APR on Aptos

Thala is a flagship DeFi platform on the Aptos network, offering a full suite of products including a DEX, stablecoin, liquid staking, and launchpad services.

Its native stablecoin, MOD, is over-collateralized and can also be minted directly from USDC via the Anchor Stable Module at a 0.25% fee.

The MOD/USDC pool on Thala features:

A key detail: rewards earned in MOD are subject to a 30-day vesting period before they can be withdrawn. While this may deter short-term farmers, it promotes long-term alignment with the protocol.

Given Aptos’ growing ecosystem and institutional backing, Thala presents a high-potential opportunity in the emerging layer-1 DeFi space.

👉 Explore high-yield farming opportunities across emerging blockchain ecosystems.

Elixir: USCT/USDC at 27.72% APR

Elixir Finance is an algorithmic market-making protocol enabling trustless liquidity provisioning across both decentralized and centralized exchanges.

Currently, Elixir channels liquidity into Vertex, a derivatives DEX on Starknet. The USDT/USDC spot pool offers an APR of 27.72%, though total liquidity is relatively low at $90,000.

What makes this attractive:

Elixir has raised funding at a $100 million valuation and has not yet launched its native token — early participants may qualify for future airdrops.

This combination of high yield and potential token incentives makes it worth monitoring despite smaller scale.

Convex: BUSD/3Crv at 45.31% APR

Convex remains a cornerstone of yield optimization in the Curve Finance ecosystem.

By depositing stablecoins like BUSD, DAI, USDT, or USDC into Curve’s 3Pool, users receive LP tokens that can be staked on Convex to earn boosted rewards in CRV, CVX, and trading fees.

The BUSD/3Crv pool currently offers:

However, note that Binance and Paxos will cease support for BUSD by early 2025. While existing balances remain usable in DeFi, this adds counterparty risk — consider migration strategies to other stable assets over time.

Despite this, Convex continues to offer reliable yields with strong security and deep integration across Ethereum DeFi.

Frequently Asked Questions

Q: What is stablecoin yield farming?
A: It involves providing stablecoin liquidity to DeFi protocols in exchange for rewards, typically in the form of tokens, fees, or interest — offering predictable returns with lower volatility than volatile asset pairs.

Q: Is high APR always safe?
A: Not necessarily. High yields often come with risks such as smart contract vulnerabilities, token depegging, or low liquidity. Always assess protocol security, team transparency, and underlying collateral before investing.

Q: How do I minimize impermanent loss with stablecoins?
A: Stick to pairs with similar pegs (e.g., USDC/USDT). Use concentrated liquidity carefully and monitor price deviations closely, especially during market stress.

Q: Are rewards paid daily?
A: Most protocols accrue rewards continuously, but claim frequencies vary. Some require manual claims; others auto-compound via third-party vaults.

Q: Can I withdraw my funds anytime?
A: Generally yes — but some protocols impose lock-up periods (e.g., Thala’s MOD rewards vest over 30 days). Always check vesting or unlocking schedules.

Q: Should I reinvest my rewards?
A: Compounding boosts long-term gains, but increases exposure to the reward token’s price risk. Consider diversifying or hedging if token concentration becomes too high.

👉 Start earning high yields on stablecoins with secure, next-gen DeFi platforms today.