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YIELD App DeFi Bitcoin Fund launches paying up to 12% APY!
The moment has arrived! We are thrilled to announce the hotly anticipated launch of the YIELD App Bitcoin Fund, which will pay a market-leading APY of up to 12%. This comprises a base APY of 6% on Bitcoin (BTC) with a further 6% available in YLD rewards.*
The fund will initially be open for deposits of Bitcoin from Tier 5 users only. Tier 5 users are those members of the YIELD App community that hold 20,000 YLD tokens or more in their on-platform wallets.
The YIELD App Bitcoin fund will remain open for deposits of Bitcoin from Tier 5 users for a period of 72 hours from 07:00 UTC on Thursday, July 8 until 07:00 on Sunday, July 11, or until an initial fund cap of 500 BTC is reached, whichever is the sooner. An individual user can deposit a minimum of 0.25 BTC into the fund.
If there is any of the 500 BTC fund allocation remaining after the initial 72 hour period, the fund will be opened to deposits from all YIELD App users from 07:00 UTC on Sunday, July 11, until 07:00 on Monday, July 12, or until the cap of 500 Bitcoin (BTC) is reached, whichever is sooner.
BTC and YLD rewards
The fund will then be closed for a period of 90 days until Sunday, October 10, 2021. During this time, investors may withdraw their BTC, however, they will forfeit any interest earned in BTC and may be subject to further penalties and withdrawal fees.** All investors in the fund can, however, redeem the YLD they earn on their BTC holding at any time into their on-platform wallets.
Investors that remain in the YIELD App Bitcoin Fund for the full initial period will receive their principal investment and the interest they have earned in BTC at the end of the term. During this time, the YIELD App team may also open up the fund for further investment beyond the 500 BTC cap, subject both to demand and favorable market conditions.
The conditions of the fund are the result of rigorous market analysis and testing by our in-house portfolio team and will ensure that we only deploy our users’ BTC funds into the most stable, high-yielding Bitcoin opportunities. This is in line with YIELD App’s consistent focus on stability, sustainability, and long-term growth.
Bitcoin directly in DeFi
Commenting on the launch of the YIELD App Bitcoin fund, Tim Frost, CEO of YIELD App, says: “This represents the realization of one of our biggest goals and a singular opportunity for users to invest into decentralized finance, or DeFi, using their Bitcoin. There remain few platforms in this space that offer this, with many requiring users to wrap their Bitcoin first. Instead, YIELD App is taking the complication out of investing Bitcoin into DeFi by allowing users to deposit BTC directly with us.
“With the YIELD App Bitcoin fund, users need only deposit their Bitcoin onto our platform and invest into the fund. Our portfolio team will then place their assets into the highest-yielding, most secure Bitcoin opportunities in the DeFi ecosystem.
“The fund launch comes at a time when many long-term HODLers of BTC are looking for a safe harbor for their assets as they weather current volatility. We hope these long-term investors use YIELD App to earn up to 12% APY on this flagship digital asset, and we look forward to welcoming them into the fund.”
The YIELD App Bitcoin Fund will join our suite of high-yielding, best-in-class investment funds in USDC, USDT, and Ether (ETH), which generate an APY of up to 20% for the former, and up to 17.5% for ETH. Since our public launch in February 2021, YIELD App is proud to have welcomed more than 44,500 users onto our platform, who have entrusted us with more than $135 million of assets to manage.
Following the highly successful launch of our Ethereum fund in March, we expect our Bitcoin fund to meet with strong demand that we will monitor and work to accommodate while continuing to consistently deliver the highest-yielding passive income opportunities in the DeFi ecosystem.