explainer on utilization and spikes utilization = share of assets that are borrowed vs supplied. when 90%+ of a pool is borrowed, lenders can suddenly earn huge apr because borrowers compete for limited liquidity. right now usdt lending shows ~15% apr because utilization spiked. but these moments are usually short - once new supply enters or demand cools off, rates normalize. think of it like surge pricing: high while the imbalance exists, then gone how to use this: – watch utilization dashboards closely, because the edge only lasts hours not weeks – if you have idle stablecoins, you can park them in pools during spikes to capture elevated rates – don’t assume the apr you see on the screen is permanent. always check utilization % to understand if it’s sustainable for those wanting steadier high apr, sUSDe on @EchelonMarket is a better option. it earns ~13% APR right now. more importantly, it can be looped: 1. supply sUSDe 2. borrow usdc (which is subsidized with incentives) 3. convert usdc back into sUSDe 4. repeat until you reach your risk tolerance (preferably >110% health factor) done correctly, this pushes effective yield toward ~30% while keeping exposure mostly in stable assets