Digital wealth platform Yied App, which allows users to earn interest on their digital asset holdings, has 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 can earn up to 5% interest on their holdings through its Earn product and “swap up to $10,000 between any other asset.” The platform has two ways allowing users to earn, a Flexible earnings program and an Earn+ program.
Additionally, the platform has devised four membership levels, allowing users to enhance their earnings as they ascend through the tiers from Bronze to Diamond. The tier a customer belongs to is determined by the quantity of YLD tokens they possess, with YLD being the native token of the Yield App platform.
📣 We’ve listed 1, 2, 3, 4, 5, 6 new assets!
Earn up to 5% p.a. on $XRP, $MATIC, $SOL, $ATOM, $DOT, and $LINK.
Explore 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 users on a Bronze level using the Flexible deposit, and as high as 5% for Diamond members on the Earn+ deposit program. For XRP, for example, interest is capped at 3%, while on Polkadot it’s capped at 5%.
According to Yield App’s website, the service is available in over 140 jurisdictions and already counts on over 90,000 users. It has processed over $2 billion in two years and touts an approach that “generates alpha through market-neutral strategies and liquidity provision.” Per its website, it fully excludes “yield generation through collateralized lending.”
Notably, the listings come as the prices of some of these digital assets have been surging. XRP is up over 7% over the past week to trade at $0.53, while Solana is up 27.7% to now trade near the $30 mark. Polkadot, meanwhile, is up 6% over the same period.
Not all of these altcoins have outperformed Bitcoin, however, as the flagship cryptocurrency’s price moved up over 10% over the last seven days to now trade at $30,600.
Featured image via Unsplash.
