YIELD App, the DeFi platform which empowers cryptocurrency holders to earn interest has launched its Ethereum fund which will allow cryptocurrency holders to earn 20% annual percentage yield APY.
YIELD App which recently announced the launch of its platform and has onboard over 6000 users. It revealed that despite the rewards which ETH holders are able to gain in yield over a period of time, which range between 0.2% to 6%, users will be able to enjoy up-to 20%. And this according to the firm, “adds to our current stable of equally high-interest opportunities on USDT/USDC and gives ETH holders a chance to earn a market-beating rate of interest on their asset.”
The Ethereum Blockchain has been home to the previous 2016/2017 Bull Run which was initiated by the novel ERC-20 standard allowing an easy way for anyone to launch a cryptocurrency and integrate the same into their products.
The current wave of DeFi was also initiated on Ethereum and it is noted to be the home of DeFi.
With the volatility in the cryptocurrency market, YIELD App affords cryptocurrency holders the ability to earn income while they go about their daily activities.
Speaking on the launch of the Fund, Tim Frost, CEO of YIELD App said: “Ether is the backbone of decentralized finance, and many consider it the most important cryptocurrency in the world. We want to provide people with the opportunity to earn high interest on their Ether without selling the asset that allowed DeFi to emerge and could very well be the home to the future of global finance.”
“This is an important milestone on our roadmap and a great development for our client base, who are looking for more ways to passively earn on crypto assets they want to hold long-term.”
On future plans, YIELD App revealed it plans to also offer in-app token swaps, allowing for ease of movement between ETH and stablecoins that offer the same APY.