Margin Trading Updates
Thanks to you Margin Trading just got a whole lot better!Read More
So you’re asking yourself how can I grow my crypto stash? With an abundance of new tokens and DeFi platforms promising outlandish but short-lived returns, Sovryn can help you maneuver with ease by providing some simple yet effective ways to profit from your crypto via Sovryn.app.
One of the easiest ways to earn crypto with Sovryn is with the Lend feature. If you are holding crypto for the long term, or you are risk averse, then this is by far one of the easiest ways to put your crypto to work.
Lending crypto out can earn you interest well in excess of a traditional interest account and gives you the ability to withdraw your crypto at any time. To use this feature and start earning today, visit the Lend/Borrow tab on the website and choose the type and amount of crypto you want to lend. A calculator shows the amount of interest you can expect to gain from your lending annually under the Interest APR column. For example, lending USDT today will earn you 6.23% APR. *Sovryn’s APR percentage varies based on real-time demand for crypto on the platform, for complete transparency.
If you are happy with the rates hit ‘deposit’ and you will start to accrue rewards instantly. Please note, the interest collected from the borrowers is disbursed to the lenders after a 10% deduction towards the insurance fund, which provides a protective cover against rare loan defaults.
The Sovryn trading account offers access to Arbitrage trading opportunities across a growing number of cryptocurrencies, as well as up to 5x leverage on Margin trades. If you don’t have a Web3 wallet yet check out our detailed guide on setting up your wallet for use with Sovryn.
After your wallet is loaded with funds, you can trade easily using our intuitive platform.
As the Sovryn protocol is scaling up its prices often diverge from prices trading on other venues. This presents arbitrage opportunities for those who wish to take them, if you are an experienced trader. For example, the price of BTC on Sovryn today is $54,692 and over on Binance it is $54,996, a $304 difference to those buying it on one platform and selling it on another. Look out for the forthcoming Binance chain that will make these trades even easier for Sovryns!
NEW: In addition, there are arbitrage opportunities balancing the AMM within the Sovryn platform itself. Spotting these opportunities could not be easier! We have just launched notifications within the dapp. Navigate to the Swap tab within the Trade area to see exactly what the AMM needs to stay in balance and the premium it will pay you for making the required swap. We encourage you to take these opportunities and help to close the price differential.
Sovryn’s Automated market making (AMM) pools are one of the great ways to put your crypto to work. Possibly one of the best ways is acting as a liquidity provider for the AMM. Just deposit crypto to one of our pools and earn from every single trade that takes place on that cryptocurrency pair. To do this go to Market Making and choose an available pool, for example BTC/USDT or BTC/DOC, deposit an amount of crypto and start earning fees straight away. Fees are proportionate to your share of the pool that is described as ‘Expected pool tokens’.
To help you get BTC into your wallet, we have developed FastBTC to enable intuitive transfers with just one confirmation. With these new tools at your fingertips, we hope you will take advantage of the earning opportunities at Sovryn. *FastBTC has a 0.25BTC limit that we expect to lift shortly.
Coming very soon, the ability to level up with liquidity mining yields!
What are you waiting for? Get started with Sovryn today.
*Only you control and have access to your wealth, any actions you take could cause a potential loss of funds. In particular, please be sure to check all transaction fee prices before proceeding as third party wallets may automatically present high fees.