A couple of days ago, I closed my contract position and extracted a bit of U to convert to spot. I originally planned to keep it and wait for a dip, but after chatting with a buddy yesterday, I found out that in Gate’s spot USD1, it offers 8% annualized yield.

I thought I would need to lock it up, but when I checked I found that you don’t. Both the spot and contract accounts count snapshots: if your position is > 1, you get the yield, and it lands in your account directly the next day. Looking into the background, it’s issued by WLFI, with the underlying using U.S. Treasury cash as collateral.
With this crappy market, there’s no clear direction, and having U sitting idle is also idle—so it’s fine to use it to harvest the trading fees I usually pay. Not locking it up is pretty friendly for people who are ready to set up a position at any time. If you have spare U and you’re just watching the market, you can go take a look.
Let your assets automatically grow: