Yield has announced the launch of their new service YIELD App Bitcoin Fund with the APY about 12%. It includes a 6-percentage-point APY for the (BTC) user and another 6-percentage-point APY on YLD incentives.
Initially, Bitcoin and Tier 5 users will have the fund open for the deposits. These are those YEILD members holding tokens of 20,000 YLD in the wallet offered by the product. It will remain accessible for the users to deposit Bitcoin for only 72 hours, starting from July 8, on Thursday 07:00 UTC and ending at July 11, 07:00 UTC on Sunday, or until the 500 BTC fund cap is met, whichever comes first. Individual users can contribute BTC 0.25 to the fund.
In case if any of the funds of BTC 500 BTC allocations remain, then post 72 hours, and will remain accessible to deposits with the users of YIELD App starting from 7.00 UTC on Sunday, July 11, until July 12, 07:00 UTC on Monday or the 500 BTC cap is achieved, whichever comes first.
BTC and YLD rewards
There will be the closure of funds for 90 days until Sunday, October 10, 2021. Investors could withdraw the coin during this time but will have to pay interest through BTC and subject to additional fines and withdrawal costs. The YLD earned on BTC holdings can be redeemed by all fund investors on wallets by the platform.
During the end of the term, investors who have remained in the Bitcoin Fund by YIELD App for the first time will gain primary investment and the interest earned in their BTC. During this period, the YIELD team decides to expand the fund’s investment of the BTC 500 limit, depending on demand and market conditions.
BTC in DeFi
Time Frost, CEO of the YIELD App, said the launch of their product represents the company’s vision, and the user will be able to invest successfully in the DeFi platform. Very few websites in this sector still do, and many of them require customers to wrap up their BTC first. On the other hand, YIELD App simplifies investing Bitcoin in DeFi, where customers can deposit directly to BTC with the company.
The YIELD Fund is a good product designed on the lines of top funds for investment in Ether, USDT, and USDC, which pay out an annual percentage yield (APY) of about Twenty percent for the former and up to 17.5 percent for the latter. App by the YIELD is delighted to see over 44,500 customers joining the platform since its public launch in February 2021, with over $135 million in assets entrusted to us to manage.
After introducing the fund of Ethereum in March, the company is looking forward to significant demand for its Bitcoin fund. The company will closely monitor and try to satisfy while providing passive income possibilities in the ecosystem.