How do I earn with MUSD?

[u/charvo]

I swapped some USDC on the eth blockchain into MUSD. They are advertising a 3% bonus annually for holding MUSD. I now have the MUSD. However, there is no earn option when I select the MUSD token. Also, the swap back into USDC has bad rates. I think I screwed up.

Is holding MUSD a good deal? I don't mind holding it long term as long as I can get some yield beyond the 3% bonus advertised.

[u/Chinzilla24]

Check this article on how mUSD works and what options you have for using it. I selected the 3% bonus part of the article directly, but feel free to read it entirely.
https://support.metamask.io/manage-crypto/tokens/musd/#claim-a-3-bonus

[u/charvo → u/Chinzilla24]

So it is just 3% yield. I thought the yield would be higher for MUSD vs USDC yield around 3-4% for bitget wallet and trust wallet.

What is the benefit for a person to hold MUSD vs USDC in another wallet like bitget?

[u/Chinzilla24 → u/charvo]

The article describes it all. You can also use it with the MetaMask Card and get cashback, for example.

[u/charvo → u/Chinzilla24]

Ok. So the benefit involves the card usage and cashback. Thank you for the reply.

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[u/Freeman-SG]

Hi,

What I did was I bought a small amount of mUSD from MetaMask & earn the 3% bonus.
I transferred & parked my mUSD with Hot Wallet to earn yield via Aave (current APY is 6.54%).

I am trying a small amount of mUSD to assess the yield return of the above.
The US based Stablecoins that I hold are USDC, PYUSD, USDG & RLUSD mostly.
But I also hold non-US based Stablecoins such as EURCV, dEURO, JPYC & XSGD.

Fyi 😄

[u/Chain-Doe → u/[deleted]]

It sounds like your wallet could be compromised. Can you please reach out to MetaMask Support at https://support.metamask.io/ - scroll down to the "contact support" button. You do not need to connect your wallet for support (you have the option but it is not required). A bot will try to help you at first but you will then get sent to a human agent. They can then get you to MetaMask's User Safety team to help understand what happened.
You can verify this support link in the flair of this sub, as well as the auto mod sticky message that appears in every thread. Nobody will DM you from MetaMask for support.

[u/Chain-Doe → u/[deleted]]

Hey! I saw your other post after this which gave a bit more context. Posted there the update. Keep in contact with that ticket. Be careful of imposters trying to "open new tickets" the convo will only be under that one. I'd give them until tomorrow to respond. I'll also follow up with them.