The newsletter for six new Yield Farming pools on Bitrue was shared on Thursday. As per the announcement, the crypto exchange will dedicate these new pools to Shiba Inu and Dogecoin with a 7% annual percentage yield. The pools are slated to go live on May 27 at 13:00 UTC.
Bitrue is one of the technologically advanced crypto exchanges that offers trading in more than 200 cryptocurrencies. The infrastructure 9f Butrue was designed to accommodate investors from advanced to intermediate levels. Users can also access the staking and leveraging features that offer the best interest rate in the market, which sometimes go as high as 100%.
However, Bitrue has carved a niche for itself in Yield Farming since its launch in 2018. The platform currently offers some of the best APYs in the market. The list is being reviewed constantly to offer more variety to users based on the community suggestions. It helps the platform not only to be diverse but also to offer the best rates possible.
Yield Farming is popular among investors in DeFi to increase their returns for the tokens. The method allows users to put their money in a decentralized application or platform to earn interest. The coins are commonly used for providing liquidity to the platform while the investors get compensated for their contributions.
Now, users can use meme-coins, namely Dogecoin and Shiba Inu, in the Yield Farming pools on Bitrue. There are a total of 6 six pool offerings for the two tokens, which vary in terms of lockup days, cap, and APY. Users can choose the one that would work for them and start earning rewards.
For Dogecoin, users can invest with a cap of 20,000,000 DOGE. Users can lock up their tokens for 30 and 60 days for 3% and 3.5 APY. Alternatively, users are allowed to lock up 1,000,000 DOGE for 30 days with 7% APY.
The first pool for Shiba Inu allows holding up to 200,000,000,000 SHIB for 30 and 60 days. Users can get 1.5% APY for 30 days and 2% for 60 days of lockup. The next pool allows only 5,000,000,000 SHIB for a 7% APY for 30 days of lockup.
Bitrue is constantly working toward incorporating community suggestions into its offerings. Only a week ago, the exchange launched nine other Yield Farming pools for BNB, CAKE, and ADA. These pools offered up to 90% rewards for investors depending on the pool and token they chose.
With everything being said, investors must know that Yield Farming comes with risks equal to profits earned from it. The pools carry volatility risks, rig pulls, and others, and investors should understand the trade before investing in having a profitable run.