Digital wealth platform Yied App, which allows users to earn interest on their holdings of digital assets, recently announced the listing of several new assets, including the popular $XRP token, Polygon ($MATIC), Chainlink ($LINK) and Solana ( $SOL).
In the announcement, Yield App noted that investors who deposit their digital assets on the platform through the Earn product can earn up to 5% interest on their holdings and “swap up to $10,000 between other assets.” The platform has two ways for users to earn: a flexible income program and an Earn+ program.
Furthermore, the platform has come up with four membership levels, allowing users to increase their earnings as they progress through the levels from Bronze to Diamond. The tier a customer belongs to is determined by the number of YLD tokens he or she owns, where YLD is the native token of the Yield App platform.
📣 We have listed 1, 2, 3, 4, 5, 6 new items!
Earn up to 5% per year on $XRP, $MATIC, $SOL, $ATOM, $DOT and $LINK.
Discover six new ways to make your crypto work harder for you: https://t.co/4SdQ9tCEJ8 pic.twitter.com/KoN03mftni
— Yield App (@YieldApp) October 23, 2023
Interest rates for these tokens can be as low as 0.25% for Bronze level users using the flexible deposit, and as high as 5% for Diamond members with the Earn+ deposit program. For example, for XRP the interest rate is capped at 3%, while for Polkadot it is capped at 5%.
According to Yield App’s website, the service is available in more than 140 jurisdictions and already has more than 90,000 users. It has processed more than $2 billion in two years and touts an approach that “generates alpha through market-neutral strategies and liquidity provision.” According to the website, it completely excludes “generating returns through collateralized loans.”
The mentions come mainly as the prices of some of these digital assets have soared. XRP is up over 7% in the past week and is trading at $0.53, while Solana is up 27.7% to now trade around $30. Polkadot is up 6% over the same period.
Not all of these altcoins have outperformed Bitcoin, however, as the price of the flagship cryptocurrency has risen more than 10% over the past seven days to now trade at $30,600.
Featured image via Unsplash.