- Bybit Leverage feature allows users to access greater yields using their funds as collateral
- With multi-layered liquidation, users can manage risks themselves against excessive losses.
Bybit one of the fastest-growing cryptocurrency exchanges with over 2 million registered members, announced its new Liquidity Mining. Liquidity pools are collections of crypto tokens maintained in smart contracts. It will enable the processing of trades between assets on a decentralized exchange while assuring liquidity.
Co-founder and CEO of Bybit Ben Zhou said that,
We are very excited about the opportunities Bybit’s Liquidity Mining will open up for all Bybit users. As traders ourselves, we understand the importance of having a diversified trading and investment strategy optimized for earning passive income on your assets. To that end, our products offer some of the best yield-earning opportunities in the market today on one of the most reliable trading platforms out there. This marks another milestone in sharing growth opportunities with our community who believe in a future of DeFi and personal financial freedom.
Befits Of Bybit Liquidity Mining
Bybit users will be able to deposit funds and earn up to 30% APY and they can choose three different liquidity pools Bitcoin (BTC), Ether (ETH), and BitDAO (BIT), all of which are linked with Tether (USDT) even better profits are possible when using up to 3x leverage.
The automated market maker (AMM) approach is used in Bybit’s Liquidity Mining pools. Users can add liquidity to their accounts in order to profit from trading fees. They can also use leverage to enhance their pool share and optimize their profit.
Also, it includes Dual Assets, for example, allowing customers to deposit their preferred assets and lock in a competitive yield, and Flexible Savings, which can be used as cryptocurrency savings accounts with safe, predictable yield payments.
Liquidity providers will be able to contribute one or both sides of the liquidity pair in all 160 countries where Bybit operates. The pool will rebalance the assets automatically to reduce the chance of a temporary loss. Providers of liquidity will get USDT rewards, which can be deposited into their accounts or reinvested in the pool to boost rewards.
The Bybit plans to be the most stable exchange for the developing digital investment market by providing unique online spot and derivatives trading services, mining and staking products, an NFT marketplace, and API support to retail and institutional clients around the world.