Posted: December 8, 2023 8:00 AM Updated: December 7, 2023 3:46 PM
briefly
Gate.io has reached a record high of over $500 million in capital pledged by lenders, with nearly a quarter of that amount in the form of Tether (USDT).
December 8Day, Panama City, Panama – Gate.io, a leading cryptocurrency exchange and Web3 innovator, announced a significant milestone for its cryptocurrency lending platform, Lend & Earn. The platform has reached a record high of over $500 million in capital pledged by lenders, with nearly a quarter of that amount in the form of Tether (USDT).
Lend & Earn has quickly become one of the most popular features on Gate.io. The platform utilizes intelligent algorithms to match borrowing demand with available capital, ensuring both lenders and borrowers receive the optimal interest rates appropriate for their current market and demand.
Fair and honest lending backed by 100% proof of deposit
Gate.io believes the growing popularity of Lend & Earn can be attributed to recent upgrades to the proof of reserves process. This upgrade significantly improves user confidence by providing more frequent reporting on the top 100 assets by market capitalization. All user funds, including funds pledged by lenders, are reflected in this report. Additionally, the new Auto Loan feature allows users to automatically allocate unused and idle assets in their trading accounts to loans.
Unlike many other platforms, Lend & Earn offers unparalleled flexibility when it comes to cryptocurrency lending. Users can repay loaned assets at any time, and funds will be returned within one hour. Additionally, lenders receive principal protection, can easily compound accumulated interest, and can manually configure interest rates, unlike dynamic interest rates.
Gate.io’s Lend & Earn platform has been a game-changer in the cryptocurrency lending space. Impressive growth and innovative features demonstrate Gate.io’s ongoing commitment to providing users with the best digital asset experiences and opportunities.
for Gate.io:
Founded in 2013, Gate.io is one of the world’s first cryptocurrency exchanges and a leader in compliant and secure digital asset platforms, offering a variety of trading services with 100% user-verifiable proof of reserves. Additionally, the platform is consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume by CoinGecko. In addition to its main exchange services, Gate.io has diversified its ecosystem to provide decentralized finance, research and analytics, venture capital investment, wallet services, startup incubation, and more. The platform currently serves more than 13 million active users worldwide.
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.