- Yield App now supports XRP and five other cryptocurrencies for passive income generation.
- Users can choose between Flexible and Earn+ products, with XRP offering rates from 0.25% to 3.00% per annum based on their tier.
- XRP investors turn to platforms like the Yield App as the XRP Ledger explores introducing a native AMM for staking.
Yield App, the renowned digital asset platform, has made headlines by including XRP and five other cryptocurrencies in its list of supported assets, enhancing the platform’s capabilities for passive income generation.
To cater to varying user preferences, Yield App offers two distinctive products, namely Flexible and Earn+. For XRP, the Flexible staking option allows users to redeem their assets at their convenience, with a variable annual yield ranging from 0.25% to 1.50%, depending on the user’s tier within the platform. On the other hand, the Earn+ product offers more competitive rates, ranging from 0.50% to 3.00% annually, albeit with a 30-day lock-up period.
The introduction of XRP on the platform comes at a time when XRP investors seek alternative avenues to maximize their holdings, given the limitations posed by the XRP Ledger’s unique consensus model, which prevents direct staking on the network. While the XRP Ledger community explores the implementation of a native Automated Market Maker (AMM) for staking, the addition of XRP to the Yield App platform provides a valuable interim solution for investors aiming to optimize their earnings within the crypto space.
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With the integration of XRP and the five other cryptocurrencies, the Yield App now supports a total of 14 assets, reaffirming its commitment to offering a comprehensive suite of investment options to its users. Leveraging various DeFi strategies, including arbitrage trading and exposure to different DeFi protocols, the platform continues to provide a secure and robust environment for users to explore and expand their crypto investment portfolios.
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