28% APY on USDC, interested? The protocol is Nemo, a yield trading protocol on Sui that was introduced earlier. Lately, it has been quietly making moves. Compared to the last time when sUSDC had only 150K TVL, this time the capacity has expanded significantly. ➤ The following information is from Nemo official: 1. Nemo is supported by the Sui Foundation; 2. Yesterday, a 3x points event started, and the LPs enjoying the points incentives are: sUSDC, ssbUSDT, sSUI; 3. At the same time, sUSDC, ssbUSDT, and sSUI also receive $SUI subsidies; ➤ Logic breakdown: 1) The incentives with Scallop are still ongoing, with additional incentives from Sui and triple points; 2) sCoin is a compound interest equity token representing the yield of the corresponding token supplied and lent on Scallop. Taking sUSDC as an example: by depositing USDC into Scallop for supply and lending, you receive sUSDC, and the price of sUSDC gradually increases over time; 3) According to the logic of the yield trading market, sUSDC can be split into YT-sUSDC and PT-sUSDC, and LPs provide market making for them. The 28% APY is the reward for providing LP; 4) The logic of the other two, ssbUSDT and sSUI, is basically the same as sUSDC. Interested parties can study them on their own; 5) In fact, when adding liquidity, it is not necessary to obtain sCoin first; you can directly use the native tokens, such as USDC or SUI; ➤ How to Operate: 1) Choose your preferred token pool; 2) Invest the amount you want to put in; 3) Earn APY returns and airdrop points; ➤ TVL: 1) sUSDC: $1.029M; 2) ssbUSDT: $1.02M; ➤ Risk Reminder: There’s not much to warn about stablecoin deposits; safety is guaranteed by the backing; ➤ Note: The core protocols are @nemoprotocol and @Scallop_io. Regarding the revenue trading agreement, if you don't know much but are interested, you can check out my past tweets. Nemo is clearly the revenue trading deal that @SuiNetwork wants to support, and again, having a points/airdrop program is to my liking: DeFi + airdrop!