Hodlnaut provides WBTC to its listing of supported belongings
SINGAPORE, July 6, 2021 /PRNewswire/ — Hodlnaut is proud to announce the assist for WBTC on its main yield-generating platform. Hodlnaut now permits its customers to earn rates of interest of 6.0% APR/ 6.2% APY on WBTC. Curiosity earned on WBTC is accrued each day, and compounded weekly when paid out.
Launched in 2018 as a joint initiative by BitGo, Kyber Community, and Ren (previously Republic Protocol), WBTC is the primary ERC-20 token that’s backed 1:1 by Bitcoin. That is absolutely verifiable via on-chain validation. WBTC’s worth comes from its inherent skill to carry Bitcoin’s liquidity to decentralised exchanges.
By including assist for WBTC, Hodlnaut seems to supply its curiosity incomes product to WBTC’s $6.7B market capitalization. Hodlnaut has additionally added WBTC as an asset pair in its Token Swap characteristic. Hodlnaut customers have prompt entry to WBTC with out the necessity to supply for a wrapping service provider for his or her BTC. Customers can merely utilise Hodlnaut to swap its tokens for WBTC at a clear value with no further charges.
“We’re excited to announce the assist of a brand new asset on our platform. We noticed the necessity to increase the variety of belongings supported on our platform in order that our customers can HODL with us via this powerful time,” mentioned Juntao, CEO and co-founder of Hodlnaut.
“Having heard the elevated demand for WBTC by our customers, our workforce has labored laborious on pushing this ahead on this very quick span of time,” shared Simon, CTO and co-founder of Hodlnaut. “We have many extra new options that will likely be launching this month and subsequent, it’ll be an thrilling time for us and we hope our customers are simply as excited as we’re.”
Hodlnaut is a platform that gives progressive monetary providers for particular person traders who can earn curiosity on their cryptocurrencies by lending them to vetted establishments. Based by Bitcoin maximalists Junato Zhu and Simon Lee in April 2019, Hodlnaut has grown tremendously over time. The platform affords as much as 10.5% APY via its Hodlnaut Curiosity Account, supporting six crypto belongings: BTC, ETH, DAI, USDC, USDT, and WBTC.
Holdnaut is a licensed Fintech by the Singapore Fintech Affiliation, an accreditation acknowledged by the MAS (Financial Authority of Singapore). The corporate goals to turn out to be the primary regulated entity in Singapore inside the crypto lending and borrowing area and is present process license software underneath the Fee Providers Act 2019 (by the MAS).
For extra data please go to www.hodlnaut.com.