Cryptocurrency holders can gain 12% annual interest through the use of the Yield App's DeFi Bitcoin Fund! The decentralized finance or DeFi wealth management platform announces the official Bitcoin Fund!
Cryptocurrency Holders Investment Fund
According to News.Bitcoin, users will be able to earn their high-interest returns on Bitcoin or $BTC! The reason for the annual yields being high is that users will get a base annual percentage yield of 6% on $BTC with an additional 6% in YLD rewards!
The fund, however, is only available for those Tier 5 Yield App users meaning they would have to hold at least 20,000 YLD tokens in order to get the maximum APYs available. Tier 5 users will be able to deposit Bitcoin into the Yield App Bitcoin Fund starting July 8, 2021 at 7:00 UTC up to July 11, 2021 7:00 UTC or until the cap of 500 $BTC has been reached.
Fund Cap at 500 $BTC
It was also stated that if there is any space left and the 500 $BTC hasn't been reached, the fund will open to other users after. Once the fund has been reached, the Yield App portfolio team will close the funds until October 10, 2021 at least. Investors that remain within the Yield App Bitcoin fund for the whole period will receive the principal investment and interest in both $BTC and YLD once the term ends.
During the period, it was stated that the Yield App team could open the fund for additional investments over the 500 $BTC cap depending on demand and favorable market conditions. The approach reflects Yield App's long-standing commitment towards both stability and safety. The safeguards will ensure stability and market-leading APY of the Yield App $BTC Fund, which will then join the wealth management's own platform's $USDT, $USDC, and $ETH offerings.
DeFi TVL Grew from $21.1 Billion to $107.5 Billion
The well-rounded suite of funds would offer investors an opportunity to earn all the way up to 20% on the largest cryptocurrencies. DeFi has been setting new records this year. It was stated that between January 1 and June 30, 2021, DeFi's TVL or total value locked climbed from just $21.1 billion to $107.5 billion with a 409% increase.
While DeFi's growth has been significantly spectacular, the accessibility has hampered its mainstream adoption. Yield App bridges the dividend through a secure and intuitive platform that is backed up by DeFi's innovative protocols. In the near future, Yield App launches additional funds, in-app token swaps, fiat ramps, and card services.
To learn more about the Yield App investment offerings, read their blog about the Yield App Bitcoin Fund. It is important to note that before investing in something, cryptocurrency or not, it is important to first research and weigh out the risks of any investment. High interest is often times paired with high risk.
This article is owned by Tech Times
Written by Urian B.