Stable Investment Choices During Market Turbulence

In April 2025, the global financial markets experienced significant volatility. Changes in tariff policies and the stance of the Federal Reserve triggered uncertainty in the market. In this context, investors may seek relatively stable investment options. This article will introduce four low-risk income products based on stablecoins, providing a reference for investors.

It should be noted that this article is for reference only and does not constitute investment advice. Investors should make decisions based on their own circumstances and risk tolerance.

Spark Saving USDC (Ethereum)

Spark is a decentralized finance platform that offers the Ethereum-based liquidity market protocol SparkLend. Investors can deposit USDC through the Spark platform to participate in the Savings USDC product.

Source of income: Mainly from the Sky Savings Rate (SSR), including fees from cryptocurrency collateral loans, investment income from U.S. Treasury bonds, and income from providing liquidity to platforms like SparkLend. USDC is exchanged for USDS at a 1:1 ratio through the Sky PSM and deposited into the SSR vault to earn yields. The value of the sUSDC token increases with the accumulation of yields.

Risk Assessment: Low Risk. USDC has high stability, and Spark has undergone multiple audits, reducing smart contract risks. However, investors should still pay attention to the potential impact of market volatility on liquidity.

Berachain BYUSD|HONEY (Berachain)

Berachain is a high-performance, EVM-compatible Layer 1 blockchain that utilizes an innovative Proof of Liquidity (PoL) consensus mechanism. Investors can provide liquidity in the BYUSD/HONEY pool on the BeraHub platform.

Sources of income: mainly include BGT rewards (approximately 3.41% APR) and transaction fees within the pool (approximately 0.01% APR). BGT is the non-transferable governance token of Berachain, which can be burned 1:1 for BERA and share the fee income from the core dApp.

Risk Assessment: Low to moderate risk. BYUSD and HONEY, as stablecoins, have lower price volatility risk. Berachain's PoL mechanism has undergone professional auditing, and the smart contract risk is relatively low. However, BGT rewards may fluctuate due to emission adjustments.

Uniswap V4 USDC-USDT0 Liquidity Provision

Investors can provide liquidity for the USDC/USDT pool on Uniswap V4 through the Merkl platform. Uniswap V4 introduces a "hook" mechanism that allows developers to customize pool functions, such as dynamic fee adjustments and automatic rebalancing, enhancing capital efficiency and yield potential.

Source of income: Mainly from UNI token incentives.

Risk Assessment: Low to moderate risk. USDC/USDT as a stablecoin pair has lower price volatility risks. However, investors should be aware of smart contract risks and the potential decline in returns after the incentive period ends.

Echelon Market USDC (Aptos)

Echelon Market is a decentralized cryptocurrency market based on the Aptos blockchain. Investors can participate in the supply in the USDC pool on the Echelon Market platform.

Source of income: includes USDC supply interest (approximately 5.35%) and Thala's thAPT rewards (approximately 3.66%). thAPT is Thala's deposit certificate, which can be exchanged for APT at a 1:1 ratio.

Risk Assessment: Low to medium risk. USDC has high stability, but investors need to pay attention to the smart contract risks of the Aptos ecosystem and the impact of thAPT redemption fees on returns. Instant exit provides high liquidity, but market volatility may affect the value of thAPT rewards.

Summary

The following table is arranged from high to low based on total locked value (TVL) for reference only:

| Product | Chain | APY | TVL | |------|----|----|-----| | Spark Saving USDC | Ethereum | 6.12% | $324.56M | | Berachain BYUSD|HONEY | Berachain | 3.42% | $208.38M | | Uniswap V4 USDC-USDT0 | Uniswap V4 | 3.91% | $156.22M | | Echelon Market USDC | Aptos | 9.01% | $78.91M |

During times of market volatility, these low-risk yield products based on stablecoins may offer investors relatively stable options. However, investors still need to carefully assess the risk and return characteristics of each product and make informed decisions based on their own circumstances.