PRESS RELEASE. ESTONIA — JULY 8, 2021 — YIELD App, the decentralized finance (DeFi) wealth administration platform bridging conventional and digital finance, is happy to announce the launch of its Bitcoin Fund, permitting customers to earn high-interest returns on the world’s greatest cryptocurrency, Bitcoin (BTC). It will encompass a base annual proportion yield (APY) of 6% on BTC with an extra 6% obtainable in YLD rewards.*
The fund will initially be obtainable to YIELD App Tier 5 customers solely. These are customers of the YIELD App platform that maintain 20,000 YLD tokens or extra of their on-platform wallets and who’re entitled to the utmost APYs obtainable.
Tier 5 customers will have the ability to deposit unwrapped Bitcoin into the YIELD App Bitcoin Fund from right this moment, 07:00 UTC Thursday, July 8, till 07:00 UTC Sunday, July 11, or till an preliminary fund cap of 500 BTC is reached. Unwrapped Bitcoin is BTC on the Bitcoin blockchain, reasonably than artificial BTC tokens used to commerce the asset’s worth on different blockchains like Ethereum.
If, after this era, there may be any allocation remaining, the fund can be opened to all customers for an extra 24 hours from 07:00 UTC Sunday, July 11, till 07:00 Monday, July 12, or till the cap is reached. The minimal deposit accepted into the fund is 0.25 BTC.
Along with the five hundred BTC cap, which ensures that the YIELD App portfolio group is ready to deploy funds into essentially the most steady, high-yielding Bitcoin alternatives for its customers, the fund can be closed till October 10, 2021. Traders that stay within the YIELD App Bitcoin Fund for the complete preliminary interval will obtain their principal funding and the curiosity they’ve earned in each BTC and YLD on the finish of the time period. Throughout this era, the YIELD App group could open the fund for additional funding past the five hundred BTC cap, topic each to demand and favorable market situations.
This thought-about and managed strategy to the launch of its extremely anticipated Bitcoin Fund displays YIELD App’s long-standing dedication to security and stability. These safeguards will guarantee the steadiness and market-leading APY of the YIELD App Bitcoin Fund, which is able to be a part of the wealth administration platform’s USDC, USDT, and ETH choices. This well-rounded suite of funds provides buyers the chance to earn as much as 20% on crypto’s greatest currencies.
Commenting on the launch of the YIELD App Bitcoin Fund, Tim Frost, CEO of YIELD App, says: “This represents the belief of certainly one of our greatest targets and a singular alternative for customers to take a position into DeFi utilizing their Bitcoin. There stay few platforms on this area that supply this, with many requiring customers to wrap their Bitcoin first. As an alternative, YIELD App is taking the complication out of investing Bitcoin into DeFi by permitting customers to deposit BTC instantly with us.
“With the YIELD App Bitcoin fund, customers want solely deposit their Bitcoin onto our platform and make investments. Our portfolio group will then place funds into the highest-yielding, most safe Bitcoin alternatives within the DeFi ecosystem.
“The fund launch comes at a time that many long-term HODLers of BTC are in search of a secure harbor for his or her belongings as they climate present volatility. We hope these long-term buyers use YIELD App to earn as much as 12% APY on this flagship digital asset and we sit up for welcoming them into the fund.”
Since its public launch in February 2021, YIELD App has gained greater than 44,500 customers and grown its on-platform managed belongings to greater than $135 million. The massive success and main APYs of its current USDC, USDT, and Ether (ETH) funds have seen the wealth administration platform appeal to the eye of each particular person and company clients, with the agency now managing the treasuries of over 30 corporations.
YIELD App is a part of the DeFi ecosystem, which refers to a breadth of economic devices and instruments constructed on high of blockchains like Ethereum. DeFi removes conventional monetary intermediaries and gives equal entry and alternatives to everybody through the use of know-how that’s open, clear, and immutable. Lots of DeFi’s hottest protocols have taken acquainted facets of typical finance (resembling borrowing, lending, and insurance coverage) and rebuilt them from the bottom up, all powered and made potential by means of blockchain.
DeFi has continued to set new data this yr. Between January 1 and June 30, 2021, DeFi’s whole worth locked (TVL) has climbed from USD $21.1 billion to $107.5 billion: a 409% enhance. Nonetheless, whereas DeFi’s progress has been spectacular, accessibility has hampered mainstream adoption. YIELD App bridges the divide by means of an intuitive, safe platform backed by DeFi’s most modern protocols. Within the close to future, YIELD App will launch extra funds, fiat ramps, in-app token swaps for every token pair, and card providers.
*Please go to the YIELD App blog for full phrases and situations of the YIELD App Bitcoin Fund
About YIELD App
YIELD App believes that everybody ought to have entry to the most effective funding alternatives. Its mission is to unlock the complete potential of digital belongings, mix them with essentially the most rewarding alternatives obtainable throughout all monetary markets and make these obtainable to the world. To attain this, the corporate gives an modern wealth administration platform that bridges conventional and decentralized finance within the easiest method potential. For extra info, go to www.yield.app
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