RIF token holders now have another investment wallet to earn attractive yields on their tokens.
Xcapit Investment Wallet Adds Support for RIF Tokens
Xcapit, the firm behind the development of an investment wallet on the RSK network recently announced it had added RIF token to its investment portfolio. This addition means that retail users and RIF holders will now be able to earn lucrative yields on their tokens in a manner that is native to bitcoin (BTC) and noncustodial.
For the uninitiated, Xcapit enables users to generate automatic investment strategies with RIF by integrating their Binance accounts with Xcapit. Furthermore, users have the option to convert supported fiat currencies into RIF tokens and vice-versa via the Kripton API which will help them connect with the real economy.
The announcement by Xcapit is a significant one for the decentralized finance (DeFi) landscape on bitcoin as it gives RIF token holders a brand new option to earn yields on their holdings. What’s more, Xcapit is built on top of the RSK blockchain which means it also imparts the unparalleled security of the bitcoin network.
Secured by the Bitcoin Network
For those not in the know, the RSK blockchain is a smart contract platform built on top of the bitcoin network. Bitcoin’s unparalleled hash power, in fact, makes RSK the most secure smart contract platform in the world.
Since its successful launch, Xcapit has positioned itself as one of the most prominent layer-2 protocols in the bitcoin ecosystem which reflects in the exponential growth of the platform.
Commenting on the development, Jose Ignacio Trajtenberg, CEO, Xcapit, noted:
“When we designed Xcapit, we did it thinking that the financial model could also be used with other assets. We believe that RIF offers many new infrastructure services through the RSK network, and this will accelerate the adoption of DeFi for Bitcoin. RIF will allow people using the RSK Infrastructure framework to yield on that. We are very happy to be able to collaborate with this amazing project.”
Similar sentiments were echoed by Diego Gutierrez Zaldivar, CEO, IOV Labs. He said:
“We are excited to have Xcapit integrated with RIF which will provide new opportunities to RIF token holders.”
“It’s thrilling to experience how quickly the DeFi ecosystem has been growing, launching more products and achieving broader adoption.”