1. Go to https://nexo.io/
2. Buy nexo token to upgrade your account
   1. You can purchase it from Huobi exchange at the time of writing https://www.coingecko.com/en/coins/nexo
3. Stake nexo as collateral and borrow USDC from it at 5.9 percent interest
4. Stake back that USDC for 10% APY

Risks

1. NEXO value drop, which means you lost capital on the tokens

2. Note that using NEXO token works because NEXO also pays dividends on it's token, so it's more worth it to use NEXO as collateral as opposed to say BTC.

   1. You can also use BTC as collateral, but you can only loan up to 50% of the total BTC value, so the total interest from there might not be worth it after all.

3. Please only borrow in USDC, if you borrow in DAI, for example, you might get a shock in the event of this happening

   1. https://www.theblockcrypto.com/post/85850/dai-compound-dydx-liquidations-defi?fbclid=IwAR0aMAKn3_BVPtE9E20bmYgXR0Ev-WbkwaOILllSXhdJYkiMrQbB_fBSDnI

4. NEXO value drops and you get liquidated due to over-borrowing. As of writing, NEXO is trading at 0.69 USD if the value crashed your NEXO collateral will be liquidated to maintain your collateral: debt ratio

   

Screenshots

1. After staking NEXO tokens - you can withdraw USDC from it as such:

2. Find your withdrawal address, click on withdraw USDC and find your withdrawal address like so

3. Your NEXO : USDC tokens ration needs to be in a 1:10 ratio for you to get a 10% + 2% APY like so