Fiat-Backed vs Crypto-Backed Stablecoins: Which Earns More in DeFi?

By Jorge Rodriguez — Stablecoins

How fiat-backed and crypto-backed stablecoins actually maintain their peg: the mechanics behind USDC, DAI, LUSD, and crvUSD

A side-by-side risk comparison: censorship exposure, liquidation mechanics, oracle risk, and capital efficiency

Which stablecoin type earns more yield in DeFi, and why the answer depends on your strategy, chain, and risk profile