Liquidity platform 0x_nodes simplifies protocol
Liquidity mining is a process in which crypto holders lend assets to a decentralized exchange in return for rewards. These rewards commonly stem from trading fees that are accrued from traders swapping tokens
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Mumbai: Liquidity mining platform 0x_nodes that generates high APY returns across any blockchain, has launched a simplified protocol, featuring a 'build-your-own-strategy approach,' a simple interface, and a high APY with optimal security.
Liquidity mining is a process in which crypto holders lend assets to a decentralized exchange in return for rewards. These rewards commonly stem from trading fees that are accrued from traders swapping tokens. It is an essential part of providing liquidity to the Defi environment, allowing even newbie crypto investors to gain high-yield, passive income.
Talking to Bizz Buzz, Aliasgar Merchant, Developer Relations Engineer at Ignite, said, "The auto pooling feature of 0x_nodes is a great step towards a more sustainable DeFi. The auto distribution of tokens earned along with an option to reinvest the yields automatically completes the circle. People who have seen the early Liquidity Mining days value this feature a lot. Many different chains have started already moving in this direction."
On 0x_nodes, users stake native assets of the protocol's supported blockchains to earn native asset rewards. Users employ the platform's build-your-own-strategy approach to choose from a variety of investment strategies to stake their assets on. The system then deploys user funds to the underlying investment strategies in batches, resulting in cost savings.
"0x_nodes is ideal for creating an interest-bearing portfolio where the APY per cent is represented in base assets (that is, without conversion to $), eliminates the temporary "impermanent" loss, and allows for additional yield to be generated," said "owl," founder of 0x_nodes. "We make it easy to maximize returns so portfolios can balance out in response to market movements, therefore cutting loss."
The protocol provides sustainable yields through its innovative auto pooling technology that finds and distributes liquidity according to its highest performance. The protocol periodically distributes rewards back to the users as claimable native assets and provides users with the option of automatically reinvesting yield. Users can also stake the $BIOS token to earn rewards in the form of native assets, across six different blockchains.
With traditional DeFi platforms, there's no cross-chain interface that allows free exchange of native assets between non-native environments, which means users have to move assets from the Ethereum mainnet to remote chains for deployment – a process that is slow, expensive, requires constant education and results in lost opportunities. The platform, on the other hand, draws yield from numerous decentralized exchanges and blockchains in one place.
