This is the use case for Liquity V2 forks that I was hoping to see. I.E., minting stables against yield bearing stables where minted stable has robust enough PSM to maintain peg. Here you can mint at a ~3% borrow rate against >6% yielding stables.

Note: Liquity-lover and ambassador, and loop-maximalist. Note 2: you can 10x leverage ysyBOLD, the major constraint is liquidity, since you'd need to convert USDaf into more bold, each loop eating a swap / conversion fee. That said, net APR: 33%