As we previously hinted in our Whitepaper 2.0, Bitrue has been harboring DeFi aspirations for quite some time now. Behind the scenes we've been working hard on what we see as the next phase of our platform - a financial management service, specialized in cryptocurrencies, that offers a mix of both CeFi and DeFi products.
Starting out we'll be enabling lenders to add their coins to the liquidity pool available to borrowers, with lenders receiving interest on the coins they add to the liquidity pool. The service is expected to launch in Q1 2021. Bitrue Financial Services will be supported through a new cryptocurrency token, Bitrue Finance Token (BFT), which will land on Bitrue this week and be listed in mid-September.
In keeping with the spirit of DeFi, Bitrue will also be implementing upgrades to their existing loan service, starting with a move to make publicly viewable the wallets that contain collateralized funds. The increased transparency will be a step towards giving users as much power over their finances as possible.
By providing both CeFi and DeFi products at the same time, we will be able to satisfy the needs of different types of users. Regardless of your preferred time horizon, the yield you want to receive, how long you're prepared to lock up your coins for, and how much you want to invest, there will be an opportunity for you to invest in a way that you're most comfortable with.
These new services, which together with our old offerings are collectively know as Bitrue Financial Services, will be powered by a new token - Bitrue Finance Token (BFT). An airdrop of this token will be going out to all BTR holders, along with opportunities for users to win extra amounts. Stay tuned for more information about BFT coming very soon!