GM! Dive into another yield adventure with this thread, spotlighting opportunities from @onrefinance, @kamino, and @ExponentFinance.
Let's start the 🧵
ONyc is a yield token designed to generate a target 16% APY by investing stablecoins in real-world reinsurance from @onrefinance.
Currently, it offers a 10.37% APY, with AUM and NAV steadily increasing since June 2025.
To boost your APY and points exposure, you have two options:
1. loop on @Kamino
2. supply liquidity on @ExponentFinance
We'll also discuss which strategy offers better points rewards.
For Kamino, the strategy will focus on looping with USDS.
With a maximum LTV of 50% and a liquidation LTV of 60%, you can loop up to 4 times for a 19.33% APY. Alternatively, looping 3 times yields an 18.76% APY, providing a safer option with only a 0.59% difference.
APY opportunities might not differ significantly, but what about points? Looping on Kamino gives you a 3x pts multiplier, while Exponent offers a 4x multiplier per ONyc.
It seems like Exponent might be the better opportunity, right? But let's compare the two strategies mentioned above.
With a $10K capital and 3x looping, your capital increases to $18,750, allowing you to acquire ~18K ONyc at $1.0371/ONyc. This results in ~54K pts/day.
Meanwhile, with the Exponent, you get a 4x pts multiplier but hold only ~9.6K ONyc, resulting in ~40K pts/day.
A difference of ~35% pts/day while achieving a similar APY. You can earn better rewards if you have a higher risk appetite by opting for 4x looping, which will increase the difference to ~40%.
That's all for today's thread! See you in the next one!
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