- The Bybit Leverage feature allows users to access higher returns by using their funds as collateral
- With tiered liquidation, users can self-manage risk against excessive losses.
Bybit, one of the fastest growing cryptocurrency exchanges with over 2 million registered members, has announced its new Liquidity Mining. Liquidity pools are collections of crypto tokens maintained in smart contracts. It will allow the processing of transactions between assets on a decentralized exchange while guaranteeing liquidity.
Bybit Earn is thrilled to announce that Liquidity Mining is now LIVE! Take advantage and earn up to 30% APY! Learn more: https://t.co/hUlGjpWFa0 pic.twitter.com/QL9Ka83rEC
— BYBIT (@Bybit_Official) May 19, 2022
Bybit co-founder and CEO Ben Zhou said that,
We are very excited about the opportunities that Bybit Liquidity Mining will open up for all Bybit users. As traders ourselves, we understand the importance of having an optimized diversified trading and investing strategy to earn passive income on your assets. To that end, our products offer some of the best return opportunities in the market today on one of the most trusted trading platforms out there. This marks another step in sharing growth opportunities with our community who believe in a future of DeFi and personal financial freedom.
Benefits of Bybit Liquidity Mining
Bybit users will be able to deposit funds and earn up to 30% APY and they will be able to choose from three different liquidity pools (BTC), Ether (ETH) and BitDAO (BIT), all of which are linked to (USDT) even better profits are possible using up to 3x the leverage.
The Automated Market Maker (AMM) approach is used in Bybit’s Liquidity Mining pools. Users can add liquidity to their accounts to take advantage of trading fees. They can also use leverage to improve their pool share and maximize their profit.
Additionally, it includes Dual Assets, for example, allowing clients to deposit their favorite assets and guarantee a competitive return, and Flexible Savings, which can be used as a cryptocurrency savings account with safe and secure return payments. predictable.
Liquidity providers will be able to provide one or both sides of the liquidity pair in the 160 countries where Bybit operates. The pool will automatically rebalance assets to reduce the risk of temporary loss. Liquidity providers will receive USDT rewards, which can be deposited into their accounts or reinvested into the pool to increase rewards.
The Bybit plans to be the most stable exchange for the developing digital investment market by providing unique and derivative online trading services, mining and staking products, an NFT market and support. API to retail and institutional clients worldwide.