The DeFi world has recently seen rising competition from a number of players. Curve Finance, the popular automated market maker (AMM) platform designed for stablecoin trading with low fees and low slippage, recently introduced a new model through which higher liquidity can be achieved for volatile assets.
As competition heats up between popular AMMs, this is one opportunity you don’t want miss out on — earn yield, and stay ahead of the Curve!
Introducing DeFi Mining — the new entrant to Bybit’s ByFi product suite that allows for frictionless onramp to DeFi. All you have to do is choose a plan, stake your funds on Bybit, and sit back to watch your yield accumulate!
How Does it Work?
Currently, Bybit’s DeFi Mining only supports the Curve Finance protocol. After you stake funds on Bybit, we will repurpose your funds for liquidity mining via Curve Finance. As a liquidity provider, you are entitled to claim Curve’s governance token, CRV, and earn a share of the transaction fee. Bybit will help you sell the newly mined tokens on the market, and your mining yields will be automatically deposited into your ByFi account — it’s that easy!
Why Choose Bybit’s DeFi Mining?
Worry no more about on-chain wallet management — you now get easy access to DeFi using your ByFi account! And… with flexible 7-, 14-, and 21-day plans, you can customize a short-term investment plan for greater visibility, while minimizing the risks of price fluctuations in the long term.
The gas fee will be shared amongst users who stake funds on Bybit’s DeFi Mining platform, essentially lowering the threshold of liquidity mining. This non-exorbitant fee structure will help you retain the highest level of possible yield.
We only select audited DeFi protocols, while monitoring the DeFi systems in real time to guard against any security incidents on the third-party platforms. Your private key will be kept offline for maximum protection. The party is on — what are you waiting for? 😊
*In the event that Curve experiences smart contract hacking, extreme market volatility, liquidity crisis, or other security incidents, Bybit is authorized to terminate your Curve mining plan at the earliest possible time to minimize any losses
*Currently, only USDT payment is supported