December 8th, 2023 at 1:00 pm UTC · 2 min read
Panama, Panama City /Gate.io/ – Gate.io, a leading crypto exchange and Web3 innovator, has announced a significant milestone for its crypto lending platform, Lend & Earn. The platform has reached an all-time high of over $500 million in capital committed by lenders, with nearly a quarter of that sum being in the form of Tether (USDT).
Lend & Earn has quickly become one of Gate.io’s most sought-after features. The platform utilizes intelligent algorithms to match borrowing demand with available capital, ensuring that both lenders and borrowers receive optimal rates appropriate for the current market and demand.
Gate.io credits Lend & Earn’s growing popularity to the recent upgrading of its Proof of Reserves process. This upgrade has significantly improved user confidence by providing more frequent reserves reporting on the top 100 assets by market cap. All user funds, including those committed by lenders, are reflected in these reports. Additionally, the new Auto-Lend feature allows users to automatically allocate unused and idle assets from their trading accounts towards lending.
Unlike many other platforms, Lend & Earn offers unparalleled flexibility in crypto lending. Users can redeem their loaned assets at any time, with funds returned within the hour. Additionally, lenders are afforded principal protections, can easily compound their accumulated interest, and manually configure rates as opposed to dynamic rates.
Gate.io’s Lend & Earn platform has become a game-changer in the world of cryptocurrency lending. Its impressive growth and innovative features demonstrate Gate.io’s ongoing commitment to providing its users with the best possible digital asset experience and opportunities.
Established in 2013, Gate.io is one of the world’s earliest cryptocurrency exchanges and a leader among compliant and secure digital asset platforms, offering diverse trading services with 100% user-verifiable Proof of Reserves. Further, the platform has consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko. Besides its primary exchange services, Gate.io has diversified its ecosystem to offer decentralized finance, research and analytics, venture capital investing, wallet services, startup incubation, and more. The platform currently serves more than 13 million active users worldwide.
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