Dubai, United Arab Emirates--(Newsfile Corp. - May 19, 2022) - Bybit, a cryptocurrency with the second largest BTC Futures exchange by open interest, launched its new Liquidity Mining on May 19, 2022.
Bybit users will have access to three liquidity pools: Bitcoin (BTC), Ether (ETH), and BitDAO (BIT), all paired with Tether (USDT). The pools will allow users to deposit funds and earn up to 30% APY, with even higher rewards available when using up to 3x leverage.
Liquidity providers in all 160 countries where Bybit operates will be able to add one or both sides of the liquidity pair. The pool will automatically rebalance the assets and minimize the risk of impermanent loss. Liquidity providers will earn rewards in USDT that can be credited to their accounts or reinvested in the pool to increase rewards.
Bybit's Liquidity Mining pools are based on a revamped automated market maker (AMM) model. Users can add liquidity to earn yield derived from trading fees. They can also add leverage to increase their share of the pool and maximize their yield. The liquidity pools will also allow Bybit users to swap between assets without needing to leave the platform and with minimal slippage.
Bybit's leverage feature allows users to access greater yields using their funds as collateral. Users can manage risks and safeguard themselves against excessive losses with multi-layered liquidation protocols to ensure safety and fairness across all Bybit trades, every step of the way.
Bybit also has...
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