[almostkorean]

not a defi expert, but I think the most common way to do this is to use Aave:

  1. borrow Tether
  2. swap it for USDC (or stablecoin of choice)
  3. wait for Tether to crash
  4. pay off your Tether loan at a fraction of its original value

risk is that your tether loan will be accruing interest (currently 1.4%) so if it doesn't crash or takes too long to crash you could be liquidated.

[mook]

There's also the risk that USDC (or alternate) will lower in value due to Tether crashing, even if they were merely also crypto. It may be necessary to convert to non-crypto assets instead.

Of course, then there's the risk that non-crypto assets will be affected by the same…