About three months ago, I started lending USDC on Aave in the Arbitrum Market. Initially, I was earning about 7% APY. Recently, I saw it drop to around 3.2%. That’s when I realized I was really missing out by not keeping a close eye on my Aave yield. If I had known my yield dropped by almost 50%, I would have switched to another market on Aave or tried another lending platform like Moonwell or Maple.
I’ve seen many others talk about this same issue lately on this forum and a few others. So, I wanted to share how setting up email alerts for when my lending APY decreases by a certain amount has helped me manage my USDC better, saving time and stress.
I created a tool called Jarvis for my friends and me. I thought I would share it here as well because others might be dealing with the same problem. You can join the waitlist on the site, and I will email you in a few days when it’s fully ready for use.
I’ve had the same problem with APYs dropping and I wouldn’t notice for weeks. Setting up email alerts is a smart idea. I’ve been looking for better ways to track my lending yields too. I also run Ocean Nodes for steady earnings, which helps counter the ups and downs of DeFi yield changes.
@Pip
That raises a good point why doesn’t Aave offer a tool like this in the first place It would be helpful to get daily or weekly updates plus alerts if the interest drops by a certain amount.
MarkusJames2 said: @Pip
That raises a good point why doesn’t Aave offer a tool like this in the first place It would be helpful to get daily or weekly updates plus alerts if the interest drops by a certain amount.
They might not want to let you know it’s dropped so you don’t withdraw your money.
This sounds awesome I will definitely check this out it would really help me find the best yields on stablecoins while I focus on Parasail Network for yields on DePIN projects.
Gracen said:
This sounds awesome I will definitely check this out it would really help me find the best yields on stablecoins while I focus on Parasail Network for yields on DePIN projects.
I would love for you to join the waitlist using the link in the post
I recommend Umami on Arbitrum It’s a solid single-asset yield protocol built on the very profitable pools of GMX. You can get double-digit yields on stablecoins like USDC, and even on BTC and ETH
Faithjones said:
I recommend Umami on Arbitrum It’s a solid single-asset yield protocol built on the very profitable pools of GMX. You can get double-digit yields on stablecoins like USDC, and even on BTC and ETH
That sounds interesting. Can we start losing money if the underlying assets lose value, like with normal pools, or is it just the APY that can drop but it won’t go below zero
Porter said:
The problem is paying what 0.3% every time you switch tokens or pools Those fees really add up
But from my experience with lending on Arbitrum and Base markets, the gas fees are about 1 cent right And the tool is meant to set a threshold that makes sense for you to switch to a different pool, so you’re not just getting notified every time the yield changes