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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
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 and one with automatic conversion.
Users can leverage up to 3x. According to Bybit’s calculations, leveraged liquidity mining provides returns of up to 30% per year.
The financial instrument operates on the automatic market maker (AMM) model. Pool liquidity providers share transaction fees from each transaction. The exchange pays profits in USDT.
“We understand that it is important for users to generate passive income from existing assets. Liquidity mining pools are another step in the evolution of the crypto community. We believe in the future of DeFi and personal financial freedom,” said Ben Zhou, CEO of Bybit, about the launch of the pools.
Bybit is a platform for staking, DeFi mining, NFT and P2P trading, as well as crypto assets and derivatives.
Bybit ranks third among crypto exchanges in terms of derivatives trading volume, according to analytics service CoinMarketCap.
Recall that earlier Bybit launched options trading on bitcoin.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
