Lending Rate Update 🧮
Weekly lending rate updates on CeFi & DeFi platforms.
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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.
Celsius Network
IN-CEL | IN-KIND
ETH 9.65% | 7.06%
ZEC 4.77% | 3.51%
Some of you may have noticed the price hitting heavy resistance as it approached $1.50. I believe this may have been due fears of a massive dump once 25 million CEL tokens are unlocked. The white paper states that 25 million CEL will be unlocked once CEL is able to sustain a price of $1.50 for at least 10 days. Additionally, another 25 million will be unlocked once the price is above $3 for 30 days. However, the team recently came to the following agreement.
Assuming no new tokens hit circulation and the company continues to be profitable, tokenomics suggests the price can only go in one direction. The only anchor the CEL token has is bitcoin. Aside from a general move down in the market, I don’t see any negative price catalysts on the horizon. The tokenomics was brilliantly designed to create a perpetual market demand for CEL tokens and aligns incentives to discourage selling.
Moreover, there’s a way for early CEL token investors to keep their exposure and diversify their gains into other projects. Currently, Celsius is offering 1% APY for loans. You can use your CEL as collateral to take a loan and service your short term liquidity needs or reinvest elsewhere.
Crypto.com
1,000 CRO | >= 10,000 CRO
XLM 1.00% 2.00% 3.00% | 2.00% 3.00% 4.00%
OMG 1.00% 2.00% 3.00% | 2.00% 3.00% 4.00%
EOS 0.50% 1.50% 3.50% | 1.50% 2.50% 4.50%
KNC 2.50% 3.50% 4.50% | 3.50% 4.50% 5.50%
Crypto.com is reducing their bonus for referrals from $50 to $25. If you were planning to get a card or give the platform a trial run, I recommend opening an account before October 31st.
Double Digit Interest for LEND Tokens
If you have unmigrated LEND tokens you can enjoy very high rates on BZX and Cream. Due to the arbitrage opportunity created by the AAVE token, the demand for LEND tokens has sky rocketed. You can earn 36% APY on cream.finance and 12% on app.fulcrum.trade. These rates won’t last long and eventually the respective platforms will migrate the tokens on you behalf. However, unless you have a large balance, this opportunity may not be worth the gas fees.
Also, UNI on Cream is yielding 32%. I currently have some of my UNI on Bitrue earning 5.3%. Once I figure out the reason behind the high yield, I maybe depositing my UNI tokens on Cream.
Notable Tweets
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