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YIELD App launches Ethereum fund offering up to 16.5% APY
Today YIELD App is excited to announce the launch of our Ethereum fund, which will allow our users to earn up to 16.5% APY on cryptocurrency’s second-biggest asset, Ether (ETH). This 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.
As most cryptocurrency users will know, Ethereum is a fundamental part of the cryptocurrency ecosystem. Unlike Bitcoin, the market’s biggest coin with a market capitalization of about $900 billion, Ethereum is a fully programmable blockchain that allows developers to build new and innovative programs and protocols onto it.
This is why Ethereum has become known as the “world’s computer” and also why it has become the home of decentralized finance (DeFi): an ecosystem of groundbreaking digital finance applications that has begun to move the world of traditional banking, trading, and investing into the world of cryptocurrency and blockchain technology.
As such, Ether - Ethereum’s native currency - is a key part of this system, not least due to its role as the method of payment for all DeFi applications operating on the blockchain. This status has secured Ether’s place as the dominant cryptocurrency after Bitcoin, allowing its value to reach new heights over the past year.
This strong future means many ETH owners intend to hold it for the long-term. However, in current DeFi markets the yield available on ETH is typically low, ranging between 0.2% to 6%. In contrast, the YIELD Ethereum Fund offers an APY of up to 16.5% for users with YLD tokens - a unique wealth creation opportunity.
Tim Frost, CEO of YIELD App comments: “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.”
The YIELD App Ethereum Fund is a highly attractive prospect for ETH holders, who can be assured of a market-beating yield regardless of price volatility. In the future, YIELD App plans to also offer in-app token swaps, allowing for ease of movement between ETH and stablecoins that offer the same APY.
This functionality will contribute to YIELD App’s already highly attractive APY - available on all supported tokens - to build a truly unique value proposition for DeFi users today and tomorrow. Whether new to DeFi or an experienced HODLer, the YIELD App protocol offers a way to ensure every user can get the most from their digital wealth, regardless of their strategy or experience level.