Another day, another @3f_xyz BF auction
$2.4m of @Bitwise USCC subscription demand hit this morning for 3F BFs. Users are demanding leverage on the USCC fund as crypto basis has been coming back
With a total of 45 auctions so far, here's some interesting BF data so far:
- $16.3m total BF requested
- Volume-weighted blended rate: 2.5 bps/day = 9.06% APR for a T+1 bridge facility
- APR range 3.65%-10.58%
9% average APR for lending USDC overnight is quite competitive by any fixed-income standard
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