Bybit launched pools for liquidity mining with a yield of up to 30% per annum

Cryptocurrency exchange Bybit announced the launch of pools for liquidity mining. This is reported intrading platform press release.

Bybit has added three pools: for Bitcoin (BTC), Ethereum (ETH) and BitDAO (BIT) paired with the stablecoin Tether (USDT). Liquidity providers deposit both assets or one with automatic conversion.

Users can leverage up to 3x. According to Bybit’s calculations, leveraged liquidity mining yields up to 30% per annum.

The financial instrument works according to the automatic market maker (AMM) model. Pool liquidity providers share trading fees from each trade. The exchange pays profits in USDT.

“We understand that it is important for users to receivepassive income from existing assets. Liquidity mining pools are another step forward for the development of the crypto community. We believe in the future of DeFi and personal financial freedom,” Ben Zhou, CEO of Bybit, commented on the launch of pools.

Bybit is a platform for trading crypto assets and derivatives, as well as for staking, DeFi mining, NFT and P2P trading.

According to the analytical service CoinMarketCap, Bybit ranks third among crypto exchanges in terms of derivatives trading volume. 

Recall that earlier Bybit launched Bitcoin options trading.