Press release. Estonia-July 8, 2021-YIELD applicationThe Decentralized Finance (DeFi) wealth management platform that connects traditional finance and digital finance is pleased to announce the launch of its Bitcoin fund, allowing users to obtain high interest returns through the world’s largest cryptocurrency Bitcoin (BTC). This will include a 6% BTC basic annual rate of return (APY), and 6% YLD rewards are available.*
The fund was initially only available to YIELD App Tier 5 users. These are users of the YIELD App platform. They hold 20,000 or more YLD tokens in their platform wallets and are entitled to the maximum available APY.
From today, Thursday, July 8th, 07:00 UTC to Sunday, July 11th, 07:00, or until the initial funding limit of 500 BTC is reached, Tier 5 users will be able to deposit unpackaged Bitcoin into the YIELD App Bitcoin Fund. Unpackaged Bitcoins are BTC on the Bitcoin blockchain, not synthetic BTC tokens used to trade asset values on other blockchains such as Ethereum.
If there are still remaining allocations after this period, the fund will be open to all users from 07:00 UTC on Sunday, July 11 to 07:00 on Monday, July 12 for another 24 hours, or until the limit is reached. The fund accepts The minimum deposit is 0.25 BTC.
Except for the 500 BTC cap to ensure that the YIELD App portfolio team can deploy funds to the most stable and high-yield Bitcoin opportunity for its users, the fund will be closed until October 10, 2021. The entire initial YIELD App Bitcoin Fund will receive their principal investment and the interest they earn in BTC and YLD at the end of the term. During this period, the YIELD App team may open the fund for further investment exceeding the 500 BTC cap based on demand and favorable market conditions.
This thoughtful and controlled approach to launching the highly anticipated Bitcoin Fund reflects YIELD App’s long-term commitment to security and stability. These safeguards will ensure the stability of YIELD App Bitcoin Fund and the market-leading APY, which will join the USDC, USDT and ETH products of the wealth management platform. This comprehensive fund provides investors with the opportunity to earn up to 20% from the largest cryptocurrency.
Commenting on the launch of the YIELD App Bitcoin Fund, Tim Frost, CEO of YIELD App, said: “This represents the realization of one of our biggest goals, and it is also an excellent opportunity for users to invest in DeFi using Bitcoin. In this field, we provide this. There are few platforms for this kind of service, and many platforms require users to package their Bitcoin first. On the contrary, YIELD App allows users to deposit BTC directly to us, thereby eliminating the complexity of investing Bitcoin in DeFi.
“Through the YIELD App Bitcoin Fund, users only need to deposit Bitcoin into our platform and invest. Then, our portfolio team will invest the funds into the most profitable and safest Bitcoin opportunity in the DeFi ecosystem.
“When the fund was launched, many long-term holders of BTC were looking for a safe haven for their assets because they could withstand the current volatility. We hope these long-term investors use the YIELD app to earn money from this flagship digital asset Up to 12% of APY, we look forward to welcoming them to the fund.”
Since its public release in February 2021, YIELD App has gained more than 44,500 users and has grown its platform management assets to more than 135 million U.S. dollars. The great success of its existing USDC, USDT and Ether (ETH) funds and leading APY have made the wealth management platform attract the attention of individuals and corporate clients. The company now manages the funds of more than 30 companies.
YIELD App is part of the DeFi ecosystem, which refers to a series of financial instruments and tools built on blockchains such as Ethereum. DeFi eliminates traditional financial intermediaries and provides equal access and opportunities for everyone by using open, transparent and immutable technology. Many of DeFi’s most popular protocols take familiar aspects of traditional finance (such as lending and insurance) and rebuild them from scratch, all of which are supported and implemented through blockchain.
DeFi continues to set new records this year. From January 1, 2021 to June 30, the total value of DeFi is locked (TVL) has climbed From 21.1 billion US dollars to 107.5 billion US dollars: an increase of 409%. However, despite the impressive growth of DeFi, accessibility hinders mainstream adoption. YIELD App bridges this gap with an intuitive and secure platform supported by DeFi’s most innovative protocol. In the near future, YIELD App will launch additional funds, legal currency ramps, in-app token exchange and card services for each token pair.
*Please visit YIELD App Blog YIELD App Bitcoin Fund’s full terms and conditions
About the YIELD app
YIELD App believes that everyone should have the opportunity to get the best investment opportunity. Its mission is to unleash the full potential of digital assets, combine them with the most valuable opportunities in all financial markets, and provide these opportunities to the world. To achieve this goal, the company provides an innovative wealth management platform that links traditional finance with decentralized finance in the simplest way.For more information, please visit www.yield.app
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