UPDATE: Yield Farming services are now live. Initially this feature is available in-app only, so please ensure that you have updated to version 4.3.0 and then look for the "Defi" option on the homepage.
Bitrue's Yield Farming service will be officially launching on Monday November 2nd!
Yield farming is our first foray into the world of DeFi, and marks the time when we officially become a truly hybrid CeFi/DeFi exchange.
The services on offer are split into two parts. The first is Yield Farming, where you can lock your coins away for a fixed period of time while we enter them into various DeFi protocols on your behalf. Initially the lockup period for these investments will be 7 days, + additional time before and after the investment begins while funds are being transferred to and from your Bitrue account. Please note that there is risk involved in Yield Farming. While we will do all that we can to bring you the highest returns that we can, there exists a possibility that the amount that you receive after the investment period will be lower than the capital that you initially invested. This risk is very low, but we urge all users to only invest amounts that they would be willing to lose.
The other service on offer is Bitrue Mining Pools. These function in much the same way as Yield Farming, with the notable difference that everything is handled and controlled by Bitrue and our partners, with no direct investment into DeFi protocols. As such it does not carry the same risks as Yield Farming.
Initially two investment opportunities will open for our users:
1. Lock your USDC in Yield Farming to gain FNX, with an estimated APR of 60%.
2. Lock your XRP AND BFT in Bitrue Mining Pools to gain BFT, with an estimated APR of 500%
These opportunities have limited caps and time periods, but we will be adding more caps and more coins to our Yield Farming service over time.
Please look forward to Yield Farming starting on Bitrue on November 2nd!