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Hi everyone,
Click here to access the interest rate tracker. It’s been updated so you can see the best rates offered among the various lending platforms. Also, please consider signing up for new platforms with the referral links posted by the moderator. He updates and maintains the excel spread sheet. I’m sure he’d greatly appreciate it.
Blockfi
Blockfi is reducing rates for BTC, ETH, LINK, LTC, & PAXG. For a super passive investor like my dad, this reduction isn’t compelling enough for him to transfer assets to a competitor. However, I can completely understand if this motivates some of my audience to look for alternatives. Blockfi in my opinion uses VC money to subsidize yield as a marketing tactic (pure speculation, I can’t prove this). Also, like many other CeFi platforms they’re always changing their rates to accommodate supply and demand dynamics. Unlike DeFi there isn’t a yield aggregator, so you’ll have to manually transfer funds to maintain an optimized yield.
On a side note, I believe it’s just a matter of time before they start using investors funds to farm on DeFi. This way they can work on innovative was to stabilize their yield regardless of market conditions. For example, provided how juicy DeFi yields are, I can see them creating a surplus fund. This fund could be used to compensate for any short fall in demand.
NEXO
LTV’s for all the assets will be reduced by 5/5/21. If you don’t think a major correction is around the corner, this maybe a good time to take out a loan on NEXO before they reduce LTV’s. Remember you can always trade your collateral to hedge against a potential sell off.
PolyWhale
The protocol is built on the Polygon network with the aim to build the most sustainable farms with the best yields. This will help bring more users to L2 and create opportunities for retail who were priced out by the fees on the Ethereum. Despite the price of the KRILL token tanking in the last few days, the yields are still substantial.
xToken Cafe
This platform is working with Uniswap V3 to bring new innovation to the LP token. However, their main focus is allowing users to auto-compound their gains from staking AAVE, KNC, 1INCH, and now BNT. I went ahead and minted some xBNT. This means the xToken team will pool and stake my BNT on Bancor. Additionally, they’ll also automatically stake any rewards I earn auto-compounding my rewards. This helps reduce gas fees and maximizes profits for the depositor. You can also earn a 195% APR by providing liquidity to the xBNT/BNT pool on Bancor. This creates exit liquidity for anybody who decides to sell their xBNT back into BNT.
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