9/20/2023 0 Comments Defi coins 2021“By doing that, your BYN will be staked at our Beyond Platform and you get the yield from the platform, which is passive income,” Moon says in an email correspondence.īeyond Finance is a decentralized exchange (DEX) for synthetic assets. Beyond Finance would let investors use their Beyond Finance token (BYN) by swapping Ethereum (ETH) from your MetaMask wallet and stake BYN to get USDb, a stable token backed by BYN. “Just join the synthetic movement and earn passive and active income,” says Kenneth Moon, chief product officer at Beyond Finance. These derivatives could be anything like options, futures, or swaps. If stable coins are too boring, there are always the crypto derivatives - synthetics. “This results in more then just holding a DeFi investment, because it means you cannot withdraw your tokens until the lock time is over,” Mattens says.Īt first blush, that’s almost like a limited partnership arrangement, or a private equity position. PSI Passive Income also gives investor a chance to earn enhanced dividends by locking their tokens into the project at a specific amount of time. Their token is down 66% over the last four weeks after rising 409% over the last year, nearly twice that of Bitcoin, but not as good as Uniswap and Aave. PSI Passive Income is not tradable on Coinbase. “You could just buy our coin and hold it and earn dividend,” says Mattens. This way you earn the Passive Income (INC) token as a reward, somewhat like a dividend. The APR rate is obtainable by converting a pair (as example INC/BNB) to the PSI Stake Liquidity Pool and staking it on the PSI platform. These numbers are deceiving and are not exactly what investors are earning in interest each year. The above APR is based on the amount of liquidity on their network. PSI is a DeFi blockchain token that focuses on yield generation for passive income investors in the crypto space.įrom the PSI Passive Income website. “We offer this at PSI too as a function but try to support that with additional income streams that come from blockchain products like our PSI DEX,” says Bjorn Mattens, CEO and Founder of PSI in Malaga, Spain. So it is better having your own wallet or working with the protocol directly via their app or website. In that case, though, Coinbase takes some of that yield for themselves. Or if you do not have a wallet, then directly into your Coinbase account, for example. Like traditional finance, most DeFi yield paying instruments will simply pay you directly into your crypto wallet. Entire ecosystems are being built for this. Especially for the traditional dividend and passive income investors. If crypto held its own, and wasn’t so volatile, it is easy to see how DeFi would give traditional finance a run for its money. When investors start digging deeper into these decentralized finance firms, most of them less than five years old, they see that a parallel universe of finance is being built. But the yield looks to be around 1.84% today, which is somewhere between DAI and USDC, with the potential to make more. By the looks of it, it’s not going to make retail investors rich. It shows the profit that was made by the bot versus the number of users. Sigmax’s website updates how well its bot is doing. Their APY is between 1% to 6% depending on market volatility, but the concept of arbitrage trading - nothing new for Wall Street types - guarantees that any trade executed by the Sigmax automated bot will make a profit as it it designed to find trading discrepancies across exchanges. (Sort of like a quant fund’s algo-driven trading system.) Sigmax.io created an arbitrage trading platform with the yield seeker in mind. DAI and USDC offer a lower rate (2% and 0.15% annually, respectively) but it’s the “best choice for the users that do not want to risk the volatility,” says Wallis.
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