Source : coinspeaker.com
Bitrue’s products are expanding beyond the regular centralized exchange offerings it was known for at the earliest stages and are now venturing full speed into DeFi.
With hundreds and even thousands of investment products around in the digital currency ecosystem today, Bitrue’s yield farm and other related offerings are worth singling out. Bitrue is a cryptocurrency trading platform that has gained prominence as one of the oldest in the space, and it can be accorded the recognition of kickstarting high yield investments in the industry when it floated Power Piggy product as far back as 2018.
The Power Piggy program is a pioneering investment vehicle that has carved out a trend in the broader digital currency ecosystem. While exchanges are driving investment products, investors on their part are embracing these products with tens of millions of dollars committed to Bitrue’s investment products alone.
Bitrue’s New Yield Farm Product
Today, Bitrue’s products are expanding beyond the regular centralized exchange offerings it was known for at the earliest stages and are now venturing full speed into decentralized finance (DeFi). This forms the basis for Bitrue’s yield farm product which is one of the two latest investment products the exchange launched recently.
The first of these products is the BTR Vote, a Bitrue ecosystem governance process that empowers the platform’s token holders, the Bitrue Coin BTR, to be able to stake their coins to show their support for a new coin of their choice.
If that coin reaches a threshold of votes it graduates and gets listed on the exchange, and those that voted for it then get to enter a 7-day staking phase where they mine for the coin that was voted on. Users tend to earn more rewards with the additional BTR coin they pledge, and while market conditions are known to impact these earning potential, investors can earn as much as 80% in APR.
The Yield Farm product is the second investment vehicle launched, and in driving this home, the trading platform has partnered with hundreds of cryptocurrencies to set up a staking feature where users can lock the coins and earn rewards for a defined period of time. While the product takes a very huge correlation with DeFi-focused products, that it is being administered by Bitrue eliminates the risks of impermanent losses on the part of the users.
A major flagship asset that will be added to the Bitrue yield farm is XRP and Stellar (XLM), two of the most established and popular cryptocurrencies around. Both coins will come with a 25% APR and will come as another avenue for holders of these coins to gain and receive additional value on them. Over time, Bitrue will continually expand its yield farm portfolio and add a number of high-yielding stablecoin products with consistent returns, a commitment that will arguably benefit its investing ecosystem.
Pioneering an All Round Innovation
With the number of products Bitrue has in the pipeline, it is undoubtedly still paving the way as a key driver of innovation in the industry. The crypto ecosystem is now replete with so much competition and keeping up with the pace of evolution can be daunting, however, Bitrue has remained a major contributor to this evolution in the past years, with a commitment for further growth through innovative community-focused product offerings.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.