Yield App Launches DeFi Bitcoin Fund, Gives Users up to 12% APY – Press release Bitcoin News


PRESS RELEASE. ESTONIA — JULY 8, 2021 — YIELD App, the decentralized finance (DeFi) wealth management platform bridging traditional and digital finance, is pleased to announce the launch of its Bitcoin Fund, allowing users to earn high-interest returns on the world’s biggest cryptocurrency, Bitcoin (BTC). This will consist of a base annual percentage yield (APY) of 6% on BTC with a further 6% available in YLD rewards.*

The fund will initially be available to YIELD App Tier 5 users only. These are users of the YIELD App platform that hold 20,000 YLD tokens or more in their on-platform wallets and who are entitled to the maximum APYs available.

Tier 5 users will be able to deposit unwrapped Bitcoin into the YIELD App Bitcoin Fund from today, 07:00 UTC Thursday, July 8, until 07:00 UTC Sunday, July 11, or until an initial fund cap of 500 BTC is reached. Unwrapped Bitcoin is BTC on the Bitcoin blockchain, rather than synthetic BTC tokens used to trade the asset’s value on other blockchains like Ethereum.

If, after this period, there is any allocation remaining, the fund will be opened to all users for a further 24 hours from 07:00 UTC Sunday, July 11, until 07:00 Monday, July 12, or until the cap is reached. The minimum deposit accepted into the fund is 0.25 BTC.

In addition to the 500 BTC cap, which ensures that the YIELD App portfolio team is able to deploy funds into the most stable, high-yielding Bitcoin opportunities for its users, the fund will be closed until October 10, 2021. Investors that remain in the YIELD App Bitcoin Fund for the full initial period will receive their principal investment and the interest they have earned in both BTC and YLD at the end of the term. During this period, the YIELD App team may open the fund for further investment beyond the 500 BTC cap, subject both to demand and favorable market conditions.

This considered and controlled approach to the launch of its highly anticipated Bitcoin Fund reflects YIELD App’s long-standing commitment to safety and stability. These safeguards will ensure the stability and market-leading APY of the YIELD App Bitcoin Fund, which will join the wealth management platform’s USDC, USDT, and ETH offerings. This well-rounded suite of funds offers investors the opportunity to earn up to 20% on crypto’s biggest currencies.

Commenting on the launch of the YIELD App Bitcoin Fund, Tim Frost, CEO of YIELD App, says: “This represents the realization of one of our biggest goals and a singular opportunity for users to invest into DeFi using their Bitcoin. There remain few platforms in this space that offer this, with many requiring users to wrap their Bitcoin first. Instead, YIELD App is taking the complication out of investing Bitcoin into DeFi by allowing users to deposit BTC directly with us.

“With the YIELD App Bitcoin fund, users need only deposit their Bitcoin onto our platform and invest. Our portfolio team will then place funds into the highest-yielding, most secure Bitcoin opportunities in the DeFi ecosystem.

“The fund launch comes at a time that many long-term HODLers of BTC are looking for a safe harbor for their assets as they weather current volatility. We hope these long-term investors use YIELD App to earn up to 12% APY on this flagship digital asset and we look forward to welcoming them into the fund.”

Since its public launch in February 2021, YIELD App has gained more than 44,500 users and grown its on-platform managed assets to more than $135 million. The huge success and leading APYs of its existing USDC, USDT, and Ether (ETH) funds have seen the wealth management platform attract the attention of both individual and corporate customers, with the firm now managing the treasuries of over 30 companies.

YIELD App is part of the DeFi ecosystem, which refers to a breadth of financial instruments and tools built on top of blockchains like Ethereum. DeFi removes traditional financial intermediaries and provides equal access and opportunities to everyone by using technology that is open, transparent, and immutable. Many of DeFi’s most popular protocols have taken familiar aspects of conventional finance (such as borrowing, lending, and insurance) and rebuilt them from the ground up, all powered and made possible through blockchain.

DeFi has continued to set new records this year. Between January 1 and June 30, 2021, DeFi’s total value locked (TVL) has climbed from USD $21.1 billion to $107.5 billion: a 409% increase. However, while DeFi’s growth has been spectacular, accessibility has hampered mainstream adoption. YIELD App bridges the divide through an intuitive, secure platform backed by DeFi’s most innovative protocols. In the near future, YIELD App will launch additional funds, fiat ramps, in-app token swaps for each token pair, and card services.

*Please visit the YIELD App blog for full terms and conditions of the YIELD App Bitcoin Fund

 

About YIELD App

YIELD App believes that everyone should have access to the best investment opportunities. Its mission is to unlock the full potential of digital assets, combine them with the most rewarding opportunities available across all financial markets and make these available to the world. To achieve this, the company provides an innovative wealth management platform that bridges traditional and decentralized finance in the easiest way possible. For more information, visit www.yield.app

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons





Source link

SEE THIS

%d bloggers like this: