Novel stablecoin protocol Davos Protocol enables 9% APY on its $DAVOS token, unlocks new opportunities for 'yield farming' on stablecoins
While 'yield farming' on DeFi assets remains too risky and loses its traction during bear markets, investors are looking for new passive income strategies with more predictable annualized yields. Stablecoin-based protocols can address all major roadblocks of conservative yield-generating instruments in 2023.Introduced in early 2023, cryptocurrency ecosystemImage by Holders of DAVOS can participate in the staking process for the Davos Protocol.
The whole design of the protocol is fully decentralized: staking, lending and borrowing operations are executed via smart contracts, and no centralization points are integrated into its architecture. As such, users should not worry about potential price manipulations, hacks and money losses. Also, its APYs are much higher than those of stablecoin-based programs offered by centralized cryptocurrency services.
As a reward for its contribution and liquidity, Davos Protocol receives an equivalent amount of ankrMATIC LP tokens. Thanks to the auto-compounding mechanism by Ankr Protocol , the yields are growing in value without additional investments. Besides conservative staking modules, DAVOS holders can inject liquidity in more aggressive passive income products with increased rewards calculated in various LP tokens.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breaking new ground: LITVAKdance introduces new works in 'Terrain and other dance stories'The five pieces on the 'Terrain' program at UCSD next weekend are about exploring our place in the environment
Read more »
DeFi Protocol Thetanuts Finance Raises $17M for Expansion, New PartnershipsCrypto structured products firm ThetanutsFi has raised $17 million in a funding round co-led by polychaincap, HyperchainC and Magnus_fund. By BrandyBetz.
Read more »
Inspired by Brain Cells: Scientists Develop Novel Computer ComponentsEnhancing computing through the use of perovskite nanocrystals. Despite the advancements in technology, the human brain remains superior to computers in several ways. While computers can perform mathematical calculations faster than humans, the human brain is capable of processing complex sensory i
Read more »
What Is Fetch.ai (FET)? Features and Tokenomics | CoinMarketCap.Fetch_ai (FET) aims to create a decentralized network of autonomous agents that can communicate, collaborate & learn from each other using artificial intelligence (AI) and machine learning (ML). 👀 Let's dive deeper into this project 🔎
Read more »
New Static Graphic Novel Pokes Fun At Black Superhero TropeLet's get to the bottom as to why so many Black superheroes, like Static and Black Lightning, all have the same superpowers.
Read more »
The first ever light-powered yeast has been inventedResearchers have made an exciting novel type of yeast that can use light as energy.
Read more »