It’s the 15th edition of Gems Corner. Today’s edition highlights strategic LST plays, Hong Kong narrative and other alpha.

Yields for LST Tokens

ETH Liquid Staking has taken centre stage in DeFi for the last few months. With Liquid Staking flipping DEXs, and Lido dominating about 26% of DeFi’s TVL, it’s showing no signs of stopping soon.

Even after the Shanghai Upgrade, we have seen a high percentage of ETH deposits.

If you have staked ETH and looking for where to farm yields for your LST token, sit tight. Here are three places to try (in no particular order):

1. Pendle:

With Pendle, stETH holders can gain leveraged yield exposure while boycotting liquidation risk. It enables users to long LST assets at a discount. Pendle offers high yields, with APY ranging from 15% to 57%.

2. unshETH

unshETH allows users to earn staked ETH yields and swap fees with their LST. They currently support wstETH, cbETH, rETH, and sfrxETH. unshETH also offers high yields, ranging from 5% to 75%.

3. Curve

If you’ve been in DeFi for a while, then you’ll definitely know about Curve. They have decent pools where you can farm yields for your LST tokens. Although their yields are low, ranging from 0.11% to about 6%.