Crypto Exchange Rolls Out Savings Product and USDT Margined Futures, a Singapore-based crypto exchange owned by Matrixport, has launched a new savings product and USDT margined futures to diversify the cryptocurrency options. 

With an annualized yield of 30%, the fixed savings product will enable users to earn interest from different coins like Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Chainlink (LINK), Bitcoin Cash (BCH), and USD Coin (USDC), among others. 

The savings product was established to meet’s objective of driving financial product innovation by rendering trading strategy execution, price discovery, and liquidity provision services. It is also supported by Matrixport, a digital assets financial services platform headquartered in Singapore. 

In September 2021, Matrixport rolled out a “BTC-U Range Sniper” product meant to offer participants high returns whenever Bitcoin’s price moved within a specified range. 

Given that the global population is gearing up to cryptocurrencies as a financial way of the future and wealth-builders based on a Visa study, rolling out different crypto features has been necessitated. 

Therefore, the new’s USDT margined futures will enable users to create long or short positions based on the underlying asset and profit whenever the price falls or rises.

Having already supported USDT margined perpetual swap,’s new cryptocurrency derivatives will enable participants to have more options in the crypto space.

Earlier this month, the crypto exchange partnered with TON to expand, enhance and develop its ecosystem. This decision was arrived at after witnessed a notable performance from TON’s native token following its listing in January this year. 

TON, which stands for “The Open Network,” is a third-generation proof of stake (PoS) blockchain designed in 2018 by the Durov brothers who founded Telegram Messenger. Furthermore, it is a community-driven blockchain project that prompts rapid transactions and aids various decentralized applications (dapps). 

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DeFi projects face a painful dilemma right now as they seek ‘the holy grail’

Cryptocurrencies have garnered something of a reputation as being fast, dangerous and lethal for many — so much so that the average investor is scared of digital assets.

The volatility that’s associated with this new asset class has also meant that gaining exposure to the world’s biggest coins has been likened to an experience that’s not for the faint-hearted — or, in traditional investor terms, “not for the wise.”

Inevitably, this will spark endless debate on whether crypto is something for everyday consumers to be scared of. Is investing a small percentage of one’s portfolio into digital assets prudent or reckless? Are regulators going overboard when they warn that people who purchase cryptocurrencies should be prepared to lose the shirt off their backs? And are there any ways for people to enter this exciting but intimidating world safely?

The current mood music surrounding cryptocurrencies have created something of an echo chamber within the nascent DeFi ecosystem. Traders are predominantly the people who use these protocols. This creates wider ramifications for fledgling projects that are seeking to enter the space — and a rather unpleasant dilemma comes to the fore. Should new platforms adopt a long-term view and build an environment that’s built for the masses, meaning they may only attract a small number of users for the foreseeable future? Or should they create ecosystems that are designed for traders — something that could attract a large but fickle following who are always looking for a new project to move on to?

Across the DeFi ecosystem, a vortex of projects is simultaneously aiming for very different target markets. Some are living in the now, while others have their sights firmly set on the future.

Understanding the average person

For the holy grail of DeFi to be achieved — the much-anticipated milestone of mass adoption — it’s worth taking a step back and considering what the typical consumer is like.

Of course, everybody likes an opportunity to make a quick buck. But those already in the crypto space often take for granted that many consumers are unprepared to take the type of risks that are often associated with the fast-moving, 24/7 world of trading digital assets.

If you’ve been involved in the crypto space for years, it may also be difficult to appreciate that most trading platforms are exceedingly confusing for newcomers. The crypto curious end up being bombarded with information — far more than they can realistically process — and this doesn’t foster an atmosphere where they can feel confident in the choices that they make.

News websites like Cointelegraph can help — and there are an ever-increasing number of educational resources that are geared toward beginners. But there’s also a danger that those who end up getting their news from social networks may end up being suckered in to buying whichever coin is pumping at the moment and losing money in the process.

Although the worlds of DeFi and retail banking are like night and day, there are things that these two financial worlds have in common. Leveraging this can be the key to unlocking mass adoption — presenting decentralized finance in a way that the public will understand, even if they have no interest in getting their heads around spreads and technical analysis.

Breaking it down

Most consumers understand that, living in a world where interest rates are low and inflation is through the roof, they are losing money on a daily basis.

They’re familiar with the concept of savings accounts — and the fact that their nest egg can grow if it is locked away for a set amount of time.

Platforms such as UniFarm say they deliver a familiar experience for crypto newcomers who crave simplicity. Now, all they need to do is find a token that they believe in and stake it. Returns are automatically diversified on their behalf — and crucially, funds can also be unstaked at any point. This gives peace of mind to those who may be feeling nervous about having their assets locked away for extended periods of time.

UniFarm says that its app is both clean and simple, packaged in a user interface that anyone will be able to understand. This helps reduce the risk of inexperienced users making costly mistakes by pressing the wrong button, or not knowing how to complete a transaction.

The platform’s co-founder and chief operating officer Tarusha Mittal said: “At UniFarm, our aim is to help DeFi appeal to the masses by being simple, smart and adding massive value.”

Mittal and fellow co-founder Mohit Madan describe themselves as long-term serial entrepreneurs in the world of blockchain — and both have now been in the space for over a decade. They together founded one of India’s first Ethereum exchanges in 2015 and now have a massive undertaking in the form of OroPocket — the parent company of UniFarm and another project called OpenDeFi.

UniFarm had a working product in place by late January 2021, and a plethora of milestones have been achieved over the past four months. This included a successful $2 million funding round that was led by AU21 Capital and a number of other notable blockchain funds.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.


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Coinbase will pay users 4% interest on USDC holdings

Major cryptocurrency exchange Coinbase has announced users will be able to earn 4% interest on USD Coin through a product the company compared to an alternative to a fiat savings account.

In a Tuesday blog post, Coinbase said its users could earn 4% annual percentage yield, or APY, by lending out their holdings for the U.S. dollar-pegged stablecoin USD Coin (USDC). The crypto exchange seemed to be targeting banks with the offering, claiming it has a better return than a typical savings account in the United States.

However, Coinbase said the loaned USDC is not protected by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation — unlike typical savings accounts in the U.S. — nor is the exchange offering a crypto interest account that provides “attractive rates on customers’ assets.” While most savings accounts in the United States provide returns of less than 1% on the dollar, many other crypto platforms provide an interest rate of roughly 8% for lending U.S. dollar-pegged stablecoins.

“While the high interest rates are appealing, they can present varying levels of risk,” claimed Coinbase. “You may find that your assets are loaned to unidentified third parties and subject to their credit risk, which could result in a total loss of your crypto holdings.”

The exchange originally offered 1.25% yields on USDC from October 2019 to June 2020, when it unexpectedly announced rewards for users holding the stablecoin would drop to 0.15%. The 4% yields represent Coinbase potentially increasing interest for USDC holders by more than 2,500%.

Related: Circle’s high-yield USDC business accounts take aim at DeFi

At the time of publication, USDC is the 8th largest cryptocurrency, with a market capitalization of more than $25 billion. Tether (USDT) remains the most popular stablecoin on the crypto market, coming in 3rd with a $62.5 billion market cap.