Content Marketing Specialist
Launching Smart Yield wallets - an activity loved by both SwissBorg and its community. This week, we are excited to announce that CRV and LINK will be joining the Smart Yield program on April 14th. So get ready, as you, our dear users, will be able to earn 10% p.a. on CRV and 4.5% p.a. on LINK, two very popular tokens.
With every Smart Yield wallet launch, we aim to give you more opportunities to grow your wealth. Since growing your wealth does also require making smart crypto investments based on knowledge, we will quickly introduce you to CRV and LINK before diving into why earning a yield on them could be the right decision for you. Let's get right into it, shall we?
What are CRV and LINK, and what makes them special?
As mentioned earlier, these two tokens enjoy their fair share of popularity. Below, we will try our best to explain why by covering the fundamentals and business models of CRV and LINK.
CRV: DeFi's top-performing token
Curve Finance is a decentralised exchange for stablecoins and other ERC-20 tokens that manages liquidity with an automated market maker (AMM).
Curve Finance leverages liquidity pools based on smart contracts and thus doesn't have to rely on order books while allowing automatic trading of digital assets.
This exchange is often described as similar to Uniswap, but its StableSwap invariant helps Curve differentiate itself quite a bit.
With such an approach, Curve Finance quickly became a DeFi favourite due to the presence of synthetic and wrapped tokens that imitate the prices of real underlying assets.
Another strong advantage of the platform is the low slippage rates which facilitate good prices and significantly larger trades.
After going through some major growth, Curve launched a DAO in August 2020. Its DAO uses the CRV token for governance and distributes it to users based on length of ownership and liquidity commitment. Holders of the token get the chance to suggest platform changes and vote on the same.
When it comes to its business model, Curve charges a small fee which is then paid to liquidity providers.
Taking everything into consideration, it's safe to say that Curve is here to stay. The platform appeals to many interested in DeFi, be it for liquidity mining or yield farming, and those who hold non-volatile stablecoins to get the best returns.
LINK: powering hybrid smart contracts with blockchain oracles
Have you ever wondered how blockchains interact with external data feeds, events, and payment methods in a secure way? The answer is through a decentralised oracle network provided by Chainlink.
Chainlink, a blockchain abstraction layer, gives smart contracts the necessary off-chain information and makes them universally connected.
LINK is the currency of the platform used to pay data providers as well as network operators and collateralise the smart contract agreements.
Each data provider referred to as an oracle in the Chainlink network gets incentivised to provide accurate data and thus keep a good reputation score.
On top of that, since Chainlink is an open-source project, anyone can see its code and contribute.
Regarding Chainlink's future, it seems to be pretty bright. As one of the first networks to integrate off-chain data into smart contracts and a major player in data processing, it has established many partnerships, including those with reputable data providers like Huobi, Brave New Coin, and Alpha Vantage.
Chainlink also powers many decentralised Price Feed oracle networks responsible for securing billions in value in DeFi applications such as Compound, Aave, Synthetix, and others.
By the looks of it, Chainlink has delivered its initial vision and is going past it by aiming to support all blockchain-based smart contract networks.
Today, enterprises using Chainlink can access popular blockchains such as Ethereum, Solana, and Terra, making Chainlink a project worth your attention.
Why earn a yield on tokens like CRV and LINK?
If you have some yield-bearing cryptos in your portfolio, the next logical step is to let them work for you. This way, in just a few steps, you can start getting a passive return on your assets.
It is important to note that doing this is tempting but not the simplest unless you use something like SwissBorg's Smart Yield program.
Why choose Smart Yield on CRV and LINK?
Like most SwissBorg features, Smart Yield takes something very complex and turns it into a few taps for the user. With it, you can earn a yield every day without putting in the time and effort required when doing it the "manual way".
Great UX is not the only benefit of subscribing to Smart Yield. Users also get to enjoy lower risk as their assets get allocated to blue-chip platforms only.
Lastly, as a cherry on top, the Smart Yield program offers a yield boost to Premium users ranging from 1.5X to 1.75X, or even 2X for Genesis Premium users.
That, paired with discounted fees on all exchanges, is definitely an offer you don't want to miss.
Feel free to check out SwissBorg's Premium account options and pick the one that suits you best!
Activating Smart Yield
So you are ready to start receiving a passive return on your assets? Great! Here are all the steps you need to take:
- Update your app to the latest version
- Deposit, buy or exchange to the coin of your choosing
- On the Portfolio screen, tap on the coin
- Scroll down, and tap the Yield Wallet card
- Tap Top Up
- Choose how much you would like to add to your yield wallet
- Follow the prompts to start earning a daily yield!
Note that while there is no minimum investment period, redemptions are actioned every 24 hours. Once you ask to redeem funds, they will be transferred to your active account at 8 AM CET the following day.