DWF Labs’ Synthetic Stablecoin to Generate a 12% APY

The DWF announced the product details of its synthetic stablecoin as it looks to attract more investors. While announcing this via X on Tuesday, Andrei Grachev, head of DWF Labs, revealed that the product is set to launch in the fourth quarter of the year or the first quarter of 2025.

DWF Labs is a new-generation Web3 investor and crypto market maker. It is one of the world's largest high-frequency cryptocurrency trading entities, trading spot and derivatives markets on over 60 top exchanges.

Crystallizing product details for @DWFLabs synthetic stable coin:
Launch Q4 2024 - Q1 2025
Expected APY:
- Stables: ~12%
- BTC/ETH: ~15%
- Blue chips: ~17%
- Long Tail alts: ~19%
Omnichain mint / redeem
Whitelisted ~500m$ TVL commitments from our partners and friends

We BUIDL

— Andrei Grachev (@ag_dwf) September 24, 2024

Grachev further revealed that its synthetic stablecoin would offer investors a 12% APY, making it one of the leading stablecoins in terms of APY. Currently, USDT (16% APY), USDC (14%), DAI (14%), and Pax Dollar (USDP 14%) offer higher yields than DWF’s synthetic dollar. 

DWF Labs’ BTC/ETH would yield 15% APY, Blue Chips (17%), and long-tail alts (19%). Grachev revealed they have already whitelisted over $500m TVL commitments from their partners and friends.

This latest development comes three months after DWF Labs led API3’s strategic funding round, during which the crypto project raised 4 million USDC. DWF Labs has also invested in several other crypto projects, including Kava, Algorand Foundation, and Alchemy Pay.