Outside Source
Bitrue crypto exchange has announced the launch of its yield farming solution dubbed the Yield Farming Hub. The new service is designed to help users to earn juicy returns of up to 200 percent on their crypto holdings.
Bitrue Unveils DeFi-Styled Yield Farming Hub
Bitrue, a global diversified cryptocurrency exchange offering users trading, loans, and investment services, has rolled out a new yield farming solution designed to enable users to enjoy the benefits of decentralized finance (DeFi) on a centralized exchange in a risk-free manner.
While yield farming remains one of the strongest driving forces of the decentralized finance ecosystem, as it makes it possible for just anyone to increase their wealth in a relatively short period, DeFi yield farming comes with numerous risks that oftentimes outweigh its benefits.
Firstly, there is the menace of crazy gas fees for even the simplest activity on Ethereum-based DeFi platforms. In recent times there have also been numerous cases of heists and exit scams orchestrated by the creators of some of these DeFi yield farming platforms. And there is also the issue of impermanent loss, which remains a pain in the neck of yield farmers to date.
Enter Bitrue Yield Farming Hub
According to the Bitrue team, the new yield farming hub is designed to enable holders of BTR coin, the native crypto of the exchange, to generate profits for themselves without doing any extra work. Members of the innovative exchange will be able to stake a vast array of cryptoassets over a variety of durations and receive up to 200 percent APRs.
Importantly, the team has made it clear that yield farmers who stake their coins in the Yield Farming Hub do not have to worry about the risk of impermanent loss, as the rewards come directly from the project teams in charge of the staked coins.
At launch, more than 20 pools are available on the Yield Farming Hub, and the Bitrue Coin (BTR) powers these liquidity pools. Commenting on the launch of the yield farming solution, Adam O’Neill, Chief Marketing Officer at Bitrue said:
“By offering such a wide range of investment options with varying lockup periods, returns, and formats, we give our users the freedom to choose an investment strategy that works best for them. It makes BTR the world’s first yield token – a coin expressly devoted to maximizing the return on investment for cryptocurrencies.”
Launched in July 2018, Bitrue is one of the most innovative cryptocurrency exchanges currently in existence. Bitrue offers users a number of profit-maximizing features, including Power Piggy, BTR Lockups, BTR Votes, and more. With the launch of the Yield Farming Hub, the team says it expects Bitrue to become a top 10 crypto exchange this year.
At press time, the price of Bitrue Coin (BTR) is hovering around $0.42, according to CoinMarketCap.
This article first appeared at BTCMANAGER
