Earlier quoted context omitted.
There's no free lunch. Returns on lending stablecoins are ~ 2X higher than a 5-year treasury bond atm because the risk is 2X higher that Circle/Tether will default vs the US-government over the next 5 years. Stablecoin returns aren't a miracle - you are effectively lending money to these organisations and taking on associated credit risk. For example there are many small banks around the world that will pay > 3% APR…
I'm not sure if I'm looking in the right place, but this [0] shows 5-year treasury bonds at 1.25% right now. You can get anywhere from 9% (blockfi, gemini, etc) up to 20 or 30% depending on where you look - much more than 2x. [0] https://www.treasury.gov/resource-center/data-chart-center/i...
CeFi platforms like Celsius or BlockFi can offer more, but they are just as risky as any unregulated sub-prime lender in a third-world country (eg micro-lending institutions can offer those sorts of yields too).
The reason DeFi loans are much lower yield than CeFi loans is precisely because the risk is on-chain in the former case, so deposits can't be stolen.
Not sure where you see 20-30% on USD? Those rates are an indication of a rug-pull scam or a ponzi imho.