Bybit launches liquidity mining pools with yields up to 30% per annum

Cryptocurrency exchange Bybit has announced the launch of liquidity mining pools. This was reported in a press release of the trading platform.

Bybit has added three pools: for Bitcoin (BTC), Ethereum (ETH) and BitDAO (BIT) paired with the stablecoin Tether (USDT). Liquidity providers deposit both assets or one with automatic conversion.

Users can leverage up to 3x. According to Bybit’s calculations, leveraged liquidity mining yields up to 30% per annum.

The financial instrument works according to the automatic market maker (AMM) model. Pool liquidity providers share trading fees from each trade. The exchange pays profits in USDT.

“We understand that it is important for users to receive passive income from existing assets. Liquidity mining pools are another step forward for the development of the crypto community. We believe in the future of DeFi and personal financial freedom,” Ben Zhou, CEO of Bybit, commented on the launch of pools.

Bybit is a platform for trading crypto assets and derivatives, as well as for staking, DeFi mining, NFT and P2P trading.

According to the analytical service CoinMarketCap, Bybit ranks third among crypto exchanges in terms of derivatives trading volume.

Recall that earlier Bybit launched options trading on bitcoin.

Subscribe to ForkLog news on Telegram: ForkLog Feed – the entire news feed, ForkLog – the most important news, infographics and opinions.

Leave a Reply

Your email address will not be published.