DeFi hub ADD.xyz has launched +Earn V3, a cryptocurrency lending platform that dramatically reduces fees and allows users to get the best interest rates on their loaned stablecoins across multiple platforms decentralized finance (DeFi).
Crypto holders select the lending protocol they want to use and the cryptocurrency they want to deposit on the platform. The cryptocurrency automatically enters the loan agreement of the selected protocol and automatically starts earning interest.
The entire flow and automation of smart contracts is secured through regular stress testing and smart contract audits conducted by partner organizations.
Users can earn interest rates on stablecoins – asset-backed cryptocurrencies, most commonly fiat currency – such as USDC, USDT, BUSD, DAI, and altcoins like MKR and CRV on Aave, Compound Finance, Yearn Finance, Fulcrum, and MakerDAO DeFi platforms, with more tokens to be added in the future, according to the UK-based company.
Automated lending platforms typically charge high “gas fees” for blockchain and smart wallet to deposit cryptocurrencies. Although these fees are paid to process transactions on the network, they represent a significant barrier to entry for crypto lenders, explains ADD.xyz.
By removing all of that, +Earn allows users to facilitate deposits and withdrawals directly from their own wallets, reducing the number of transactions and steps required to start earning passive income.
ADD.xyz CEO Arnie Hillof said, “Our +Earn V3 rollout is significant for the lending community within DeFi as we have successfully reduced gas costs by 90% moving away from wallets. expensive smart phones seen on other lending platforms. We have strived to simplify the user interface and product processes while increasing functionality by enabling more protocols and more currencies.
“For us, DeFi with privacy is a belief in absolute freedom. This is why we are on the right track to create a complete DeFi aggregator, connecting multiple DeFi products and applications such as lending, privacy mixing, aggregated governance and much more in one single platform.