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Coinchange Announces 0% Fee Brokerage, 25% APY DeFi Platform that Is Secured and Regulated

Coinchange Announces Truly 0% Fee Brokerage and 25% APY DeFi Platform That Is Secure and Regulated

press release

PRESS REELEASE. Toronto–Coinchange is diversifying its portfolio of offerings with a move into the DeFi space. The High-Yield Account will provide all users with returns of up to 25% per annum on their USDC balances. This unique opportunity is paired alongside Coinchange’s existing fiat gateways and crypto brokerage, which will allow users to buy and sell BTC, ETH, USDC and USDT with 0% trading fees for a limited time.

Easy Access to DeFi

The Decentralized Finance (DeFi) sector has grown exponentially over the course of the last year, with over $60 billion now locked in DeFi protocols. These new technologies can offer double-digit returns and investors have been attracted to them due to the low interest rates and lack of opportunities in traditional financial sectors.

However, DeFi can be difficult to access for new users who are not familiar with the blockchain space, crypto wallets, and specialized tools. Users must also be able to transfer funds quickly between protocols and keep up to date with market trends.

Founded in 2018, Coinchange – a rapidly-growing digital asset platform that is licenced and regulated in Canada and 33 US states – has already proven a popular choice for purchasing crypto coins and tokens. Their new High Yield Account feature enables clients to access DeFi’s outperforming returns utilizing yield farming strategies, without the downsides of having to constantly monitor the market: Coinchange’s experts and automated strategies deal with this complex and time-consuming process behind the scenes and provide high returns and automated risk-hedging.

Unique zero-fee brokerage combined with a safe, high-return DeFi product.

Existing and new Coinchange customers can already enjoy the benefits of 0% fees on all deposits to the platform, as well as conversions between BTC, ETH, USDC and USDT. Coinchange’s High Yield Account, currently scheduled for launch on July 26, will enable users to lock their USDC and receive a yield of up to 25% APY – the highest of any comparable platform in the space.

Later this year, ETH and BTC will be supported within the High Yield Account – meaning that customers will be able to hold crypto assets that have a strong record of appreciating in value while continually generating significant income from them.

“Thanks to zero commission fees for trading, Coinchange is already the most competitive crypto brokerage service in the market,” says Maxim Galash, CEO of Coinchange. “With our High Yield Account paying users up to 25% on their holdings, we are proud to offer both the lowest fee and the highest earnings in the industry. It’s not about the fees. We are a licensed, safe and regulated company. This allows us to simplify a complex user experience and open up new financial options that were previously unavailable to the majority of people. We believe this will prove highly attractive to all types of customers searching for low fees and high yields.”

Algorithmic Yield Farming

Coinchange High Yield Account builds on centralized and decentralized financial technologies to give customers the best of both worlds. It is easy to deposit and manage funds using the user-friendly platform.

Behind the scenes, automated strategies designed by Coinchange’s experts ensure that customers’ money is always working as hard as possible, locked in the highest-yielding protocols. The aggregate of multiple platforms increases returns above those available to yield farmers who are well-informed. Coinchange’s security focus protects users against the uncertainties and risks that the DeFi space can present for newcomers.

The result is a secure and seamless gateway into the crypto- and DeFi worlds. It combines all the benefits of the new DeFi industry with a reduction in complexity. Customers can relax and watch their money grow, without worrying.

Coinchange advantages:

– Time-saving, automated high-yield strategies, designed by experts

– Zero commission fees (Limited time offer)

– Secure, simplified access to DeFi with 25% APY

– One-stop control of funds with just a few clicks

– Withdraw funds at any time with no restrictions

– No need to manage wallets and private keys

– No gas payments required by users

About Coinchange

Coinchange Financial is a one-stop digital asset management platform. The company is licensed and regulated in Canada and most US states. It is currently working towards licenses in other countries. The service was launched in 2018 as a crypto brokerage, and in late 2020 began to incorporate DeFi yield farming strategies, providing a bank-like application that merges traditional finance with digital currencies and assets in a safe, convenient, and profitable way. The company’s mission is to provide DeFi and crypto wealth management services to the general public. It also provides high-yield passive income to make everyone a successful investor.

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This is a press release. This is a press release. Readers are responsible for their own research before making any decisions about the promoted company, or any of its affiliates. Bitcoin.com does not assume any responsibility for any loss or damage caused by the content, goods, or services mentioned in this press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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DEFI

Terra Collapse continues to plague Defi –Chain Bridges down 20% This Month

Terra Collapse Continues to Plague Defi — Value Locked in Cross-Chain Bridges Down 20% This Month

Following the aftermath of the Terra blockchain fiasco, decentralized finance (defi) continues to feel the impact of the project’s fallout. The total value locked in defi (TVL), has fallen 2. 61% in value, and cross-chain bridges have lost roughly 20.3% during the last 30 days.

Value Locked in Cross Chain Bridge Tech Slips 20% Lower Than Last Month

Over $100 billion in USD value was recently removed from the total value locked (TVL) in defi and TVL statistics continue to slide. Four days ago, the TVL in defi was approximately $112. 29 billion and today, the TVL is down 2. 61% to $109. 35 billion. The TVL in defi across twelve blockchains has fallen a lot over the past month. Cross-chain bridge TVLs also have fallen a lot.

30-day metrics from Dune Analytics indicates that the TVL across cross-chain bridges is down 20.3%. Today, there’s $16. 49 billion total value locked across 16 different cross-chain bridges. The number of unique daily ethereum bridge depositors has dropped in addition to the cross chain bridge TVL.

As of Thursday, May 19, 2022, Polygon has the largest TVL among the 16 cross-chain bridges monitored on Dune Analytics. Polygon currently has $5. 15 billion today. The $5. 15 billion on Polygon bridges represents 31. 23% of the entire $16. 49 billion cross-chain bridge TVL.

Polygon is followed by Avalanche ($3. 55B), Arbitrum ($3.2B), Fantom’s Anyswap ($1. 87B), Near Rainbow ($1. 86B), Optimism ($585M), Harmony ($229M), Moonriver ($154M), and Xdai ($122M).

The top crypto asset leveraged on cross-chain bridges today is the stablecoin usd coin (USDC). The stablecoin has $5.1 billion locked and is followed by WETH or ETH with $4. 57 billion locked. Tether (USDT) is the third-largest with $1.9 billion today and other notable cryptos leveraged on cross-chain bridges include WBTC, DAI, and MATIC.

The losses in defi are caused by two factors. One, the Terra blockchain fallout removed more than $40 billion from the defi ecosystem in a very short period of time. The remaining billions have left defi in various ways including using cross-chain bridges because defi users have been rattled by the Terra catastrophe.

Billionaire investor and crypto proponent Mike Novogratz published a blog post yesterday covering the recent Terra blockchain fiasco and he said “the collapse dented confidence in crypto and defi.”

What do you think about the dent in confidence to the defi ecosystem and the value locked in cross-chain bridge tech dropping lower than last month? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a journalist and financial tech expert living in Florida, is the News Lead at Bitcoin.com News. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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DEFI

Lido Creates an Additional Curve Pool To Improve Liquidity Around Bonded Ethereum Peg

On Friday, the value locked in decentralized finance (defi) protocols dropped to a low of $110. 35 billion after there was more than $200 billion total value locked (TVL) eight days ago on May 5. One specific defi protocol called Lido, a liquid staking platform and the second largest defi application in terms of TVL size today, has lost significant value losing 49. 66% during the past week.

Curve’s stETH: ETH Peg Skews, Lido Adds New Pool With Liquidity Incentives

While being exposed to the Terra blockchain blunder, Lido’s bonded ethereum tokens have been under pressure due to an imbalance on Curve’s bonded ethereum (stETH) and ethereum pool. The liquid staking defi protocol Lido announced that it was deploying liquidity incentives to Curve Finance in order to improve the imbalance that has been taking place around the stETH: ETH peg.

“We are deploying an additional Curve Finance pool to improve the liquidity around the stETH: ETH peg,” Lido tweeted on May 12, 2022. “This new pool will feature an additional 1M LDO in incentives for the next week and is currently almost empty, suggesting high rewards to initial depositors.” Before the announcement, Curve’s stETH: ETH pool was showing a 2% discount amid the chaos surrounding the Terra blockchain.

Crypto journalist Colin ‘Wu’ Blockchain explained what was taking place on Thursday. “The ETH/stETH asset ratio in Curve’s largest TVL steth (ETH+stETH) pool is skewed,” the journalist tweeted. “ETH/stETH=36.48%/63. 52%, people are exchanging stETH back to ETH. Users who are using stETH for leveraged staking need to be aware of potential de-pegging risks.”

Team Plans to Migrate Curve and Balancer Pools, Lido’s TVL Shed $10. 26 Billion in a Week’s Time

In the same Twitter thread, Lido described the firm’s plan to mitigate the issue on Curve’s platform. “[The plan is to] migrate liquidity from the existing Curve and Balancer pools to a new one (recommended deposit ratio at current rate is 13 stETH for every 1 wETH) to maximise rewards,” Lido added on Thursday. “The new pool contains 1,000,000 LDO for the next week in rewards.”

Some people questioned the move to create a new pool on the largest defi protocol in terms of value locked. “Is it a good idea?” UST was attacked during liquidity migration,” one individual asked.

The liquid staking application Lido also had significant exposure to the Terra blockchain and 49. 66% in value has left the platform since last week according to defillama.com stats. Lido currently has $9. 13 billion in value but on May 5, it held $19. 39 billion. $10. 26 billion has been removed from Lido’s TVL since May 5 and $4,130 in LUNA remains.

What do you think about Lido adding liquidity incentives to Curve’s pool? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Terra Fiasco Unlocks Value in Defi –

Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39. 26% since April 3, from $230. 18 billion to the current $139. 81 billion. The sudden value drop stemming from Terra’s native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position in defi, losing 19. 42% in 24 hours. Anchor Protocol has slipped down to the 12th largest TVL position, losing 66. 34% in the 24-hour timeframe.

Value Locked in Defi Sheds 10% During the Last 24 Hours — Terra Defi Apps Rock the Boat

  • According to defillama.com stats, the value locked in decentralized finance protocols has dropped 10. 58% in value during the past 24 hours, and 39. 26% over the past 38 days since April 3, 2022. The TVL sizes of all ten top defi protocols have fallen between 1. 61% and 19. 42% in the last day.
  • The defi protocol Lido dropped from the second-largest position to the third-largest on Wednesday after losing close to 20% in value. Lido supports a variety of blockchains. One of these is Terra network, which pays rewards in UST and allows LUNA bonding.
Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions
Total value locked in defi on May 11, 2022.
  • While the defi lending protocol Anchor was once the third-largest defi project just three days back, it is now holding the 12th position as it lost 66. 34% during the last 24 hours. Seven-day stats show Anchor’s TVL lost 85. 92% in value.
  • One of the only defi protocols that has seen its TVL rise over the last week is Tron’s Sunswap as it’s up 10. 69% during the past seven days. Dydx saw its TVL increase by 0. 80% this week and Arrakis Finance jumped 4. 48% higher this week.
  • Curve Finance, a stablecoin-centric automated marketplace maker and decentralized exchange (dex), still held the lead on Wednesday with 9. 94% of the entire $139. 81 billion. However, Curve is down 11. 51% during the last 24 hours, 27% down for the week, adn 31. 85% during the last month.
  • The TVL in cross-chain bridges has also dropped 20.3% this month and there’s currently a TVL of around $16. 49 billion spread across cross-chain bridge protocols. Today, Avalanche and Polygon are the most powerful cross-chain bridge TVLs.
  • Terra used to be the second largest defi space in Ethereum’s TVL. However, it is now the sixth. $3. 71 billion remains in Terra-based defi protocols, while the leader Ethereum has $86.51billion.

What do you think about the decentralized finance market action during the last few days and how Terra’s ecosystem is affecting the value locked? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a journalist and financial tech expert living in Florida, is the News Lead at Bitcoin.com News. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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