Decentralized finance, or DeFi, is attracting a lot of attention globally. Ensuring users can contribute existing crypto assets remains a hurdle to overcome. Matrixport is taking an interesting step, as they have enabled Bitcoin Cash support.
A big Gamble by Matrixport
People unfamiliar with Matrixport may be interested in the financial services the platform provides today.
The company wants to become the number one digital assets financial services platform compliant with regulatory requirements.
Currently, its main branches include custody, trading, loans, and interest-earning solutions.
It is this latter option that has proven to be a of keen interest to DeFi enthusiasts.
Matrixport provides a dual-currency product that lets users enjoy double-digital annualized returns.
There is also a “fixed income” investment option that provides “more normal” annual returns, but is still a worthwhile option.
In the new update, Matrixport confirms it has enabled support for Bitcoin Cash.
A remarkable choice, considering how BCH has a rather negative reputation, and its network seems to be losing traction at an alarming rate.
Based on the announcement, BCH holders will be able to earn between 25% and 100% APY.
These numbers projected by Matrixport are very high, but will undoubtedly attract a fair bit of attention.
By using BCH, users will be able to provide liquidity and generate CRV and YFV as a result.
Both of these DeFi tokens are very popular and have seen their fair share of success.