Parrot Earn: A Yield Generating Stablecoin

(Designed by “Bubonik”)

The Parrot has launched a new vault type: USDC+earn, which allows you to mint PAI, AND earn yield on the USDC collateral you’ve deposited. Aside from the yield generating capability of this new vault type, USDC+earn behaves the same way as before. No liquidation, and 101% collateral ratio requirement.

To use it, select USDC+earn when minting PAI:

Select “USDC+Earn” to earn yield on USDC collateral

Users of USDC and USDC+earn will share the 15M PRT incentives program; PAI minted from both vaults will count towards the total. If you’ve previously minted 10k PAI in the USDC vault and now migrate your 10k PAI to USDC+earn, you will be earning the exact same rewards as before.

In short, you can mint PAI to earn PRT, farm MER & SBR by depositing PAI into their pools, AND Parrot will earn extra yield on your deposited USDC!

To migrate from USDC vault to USDC+earn:

Before you ape into USDC+earn, we must note that this is an early product. The yield strategies are not decentralized, but controlled by a team multisig. This is a shortcut that allows us to launch quickly. Moving forwards, we are committed to building fully decentralized strategies to earn yield and distribute rewards.

USDC+earn specs:

Join The Parrot Party!

USDC+earn is the first yield-generating vault. There will be more yield generating strategies support other asset types! Stay tuned!

It’s never too late to join the party.

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