Original Article Title: Yields Opportunities in a Risk-off Environment
Original Article Author: @ClBlockchain, crypto writer
Original Article Translation: zhouzhou, BlockBeats

Editor's Note: The article introduces various opportunities to earn yield by providing liquidity in the current risk-off environment, covering on-chain strategies such as Sonic, Arbitrum, and Hyperliquid. This includes Shadow (Sonic's main DEX) earning high APR and Sonic Points through liquidity provision, Rings Protocol x Pendle earning stable yield via scUSD, Pear Protocol (Arbitrum) capturing high funding rates through reverse trading, and Harmonix (Hyperliquid) conducting low-risk arbitrage through HYPE Delta-neutral vault.

Below is the original content (rearranged for better readability):

Since the November 2024 election, the crypto market has seen a 25% decline from its peak of $3.7 trillion, with the total market cap falling to $2.76 trillion as of March 10, 2025. The market is currently clearly in risk-off mode. In this environment, stablecoins, Delta-neutral products, and yield farming through liquidity provision typically attract more attention and users.

Here are some innovative yield opportunities on various blockchains, yes, we still love loyalty rewards.

Yield Farming on Sonic

@ShadowOnSonic

Shadow is the core decentralized exchange on Sonic, utilizing a concentrated liquidity mechanism to offer users a high-yield annual percentage yield. Its main strategy involves providing liquidity on S and stS, with almost no impermanent loss, and hedging risks through shorting.

Expected Returns:

30-80% APR (Liquidity Provision Yield)

Sonic Points Reward

Pros and Cons:

High APR (Significant Liquidity Mining Rewards)
Requires active liquidity management

Operation Steps:

Buy S, and convert part of it to stS through beets.fi (the ratio depends on the liquidity range).

Open a 1x short position on @HyperliquidX or @vertex_protocol to hedge price fluctuation risk.

@Rings_Protocolx@pendle_fi

Rings offers scUSD, a yield-stablecoin backed by USDC and ETH. The strategy involves minting scUSD and earning yield through its treasury, while passively earning Sonic points by holding scUSD or providing liquidity on @pendle_fi for additional yield.

Pros and Cons:

No need for active management

Pendle has shown excellent performance in the past

Requires trust in Rings' stablecoin and Veda treasury

Operation Steps:

In Rings, mint scUSD against stablecoin collateral.

Stake scUSD to earn 5% yield + Sonic points.

On Pendle:

· Buy wstkscUSDPT to enjoy a 13.75% APR and hold until maturity date (May 29, 2025).

Earning Yield by Providing Liquidity on Arbitrum

@Pear_Protocol

PearProtocol recently launched a new feature - the Market Page, designed to discover trading opportunities and filter out the most attractive funding rate opportunities from thousands of trading pairs.

Strategy Core: Reverse Trading to Earn Funding Rate

The core idea of this strategy is "reverse trading to earn the market sentiment premium." The opportunity arises from trading setups where market sentiment is opposite to one's own view:

·Longing an asset in a market where it is heavily shorted

·Shorting an asset in a market where it is heavily longed

Considering that the market often comes with Open Interest liquidation, this strategy is rational. However, it requires actively managing positions, paying attention to whether the funding rate is favorable, and whether the 24-hour funding rate changes are positive.

Pros and Cons:

·Can receive high funding rate rewards

·Suitable for mean reversion trading strategy

·Requires active position management

·High risk

Operation Steps:

·Go to the Market Page

·Filter by Net Funding to find the best trading opportunity

After some research, you can discover high-quality trading opportunities.

Earn Yield by Providing Liquidity on Hyperliquid

@harmonixfi

Harmonix has launched the HYPE "DeltaNeutral" vault, where users can deposit USDC to earn yield while receiving Hyperliquid tokens and Harmonix points.

This vault generates returns through the funding rate:

Half of the deposit is used to purchase the Hyperliquid native token HYPE

The other half simultaneously opens a short position in HYPE for hedging

This is a Delta-neutral strategy that allows risk-free exposure to the Hyperliquid ecosystem. However, the HYPE funding rate can change at any time, making the overall risk moderate.

Pros and Cons:

·High yield, with exposure to the HL ecosystem

·Need to monitor funding rate changes weekly

Operation Steps:

·Go to the Harmonix platform: https://app.harmonix.fi

· Select USDC/Hyperliquid Vault

· Deposit USDC and complete the transaction

「Original Article Link」

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