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BUSD banned, Euler Finance offers multiple trading options.

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Due to Euler's permissionless lending infrastructure, which has strong composability and interoperability, this protocol allows for borrowing and lending of almost any asset, something that other DeFi protocols cannot achieve.

As we can see, the New York Department of Financial Services has ordered Paxos to stop minting BUSD stablecoin. As a result, many groups are confused about how to store value in the crypto ecosystem and are concerned about the security of stablecoin transactions. The price fluctuations of stablecoins are evidence of shaken confidence.

As an alternative choice, many participants hope to use DeFi to store their assets, as this can isolate asset risks from large centralized trading platforms. The call that "not your private key, not your coins" is getting louder and louder. This explains the surge in trading volume of BUSD trading pairs on Uniswap and Curve yesterday.

Market data shows that USDT seems to be the most stable choice: its market cap increased by nearly $1 billion in one day. This indicates strong demand from users who see it as a safer alternative to BUSD.

On the other hand, most of the USDT is stored on the Ethereum mainnet, where most of the BUSD is also stored. This indicates that users are converting BUSD to USDT because it is most convenient to do so on the same network. Now, users who hold USDT on the mainnet are likely to want to earn income or use the USDT as collateral for loans.

There are several different options for this: they can use yield aggregators like Yearn, or put it into a DEX like Uniswap to earn trading fees. Alternatively, they can offer it to the money market and earn interest from borrowers. However, there is currently a DeFi platform that allows users to collateralize their USDT deposits, and that is Euler.Finance.

Traders who want to long USDT and short other stablecoins (such as BUSD) can do so on Euler.Finance. On the Euler platform, users can easily mint and earn EUL through lending and borrowing. With its permissionless lending infrastructure, Euler offers strong composability and interoperability, allowing for lending and borrowing of almost any asset, which is not achievable by other DeFi protocols.