My comment was answering a question about “why stablecoins at all”.
To answer your question, because some uniswap v3 pools with USDT offered competitive returns, like the 0.05% WETH/USDT one. That was one of many I used, which included those that paired DAI or USDC with ETH.
I considered the concerns overblown at the time and so was okay with making some the USDT pools a part of my LP portfolio.
I don’t consider being slightly undercollateralized a “gigantic evil scam” and the rhetoric around Tether is still definitely overblown, and if that were your primary concern (or am I not supposed to say that anymore?), you should have led with it rather than comparing it to similar defi returns.
And I wasn't comparing in terms of returns. I just pointed out that there is no real use-case for USDT that can't be served by the other tokens, including yield-farming in liquidity pools.
https://news.ycombinator.com/item?id=31422545
https://news.ycombinator.com/item?id=31417134
https://news.ycombinator.com/item?id=31412835
My comment was answering a question about “why stablecoins at all”.
To answer your question, because some uniswap v3 pools with USDT offered competitive returns, like the 0.05% WETH/USDT one. That was one of many I used, which included those that paired DAI or USDC with ETH.
I considered the concerns overblown at the time and so was okay with making some the USDT pools a part of my LP portfolio.
I’m honest.