XEND FINANCE NEW FEATURE ALERT! — SAVINGS ACCOUNT WITH A HIGHER APY
At Xend Finance, our mission is to help individuals, credit unions and cooperatives around the world save in stable currencies and earn better returns. Our new partnership with DefiDollar would move us a step towards achieving this mission.
This collaboration would increase the stable currency options for our users and provide a higher yield on savings. Aside from BUSD currently available on the platform, Xend Finance users will be able to save in other stable currencies like USDC, USDT, and DUSD and get returns of up to 25% on their savings.
This is a big step to enable a simple savings account for Binance Smart Chain users and traditional credits unions.
Serving the underserved economies with DefiDollar
This new savings account provided by DefiDollar provides APYs of up to 25% which will be ideal for Xend Finance’s target users from unstable economies and financially underserved regions like Africa, Asia and other regions of the world.
This partnership will also allow Xend Finance to use DefiDollar’s stablecoin index, DUSD, to add support for different stable coins and help Xend Finance to diversify its offering.
Xend Finance users can save in BUSD right now, while support for other stablecoins would be added soon.
Steps to Start Using DefiDollar Savings Account on Xend Finance
- Connect to your crypto wallet to use Xend Finance.
- Click on Venus to see a dropdown.
- In the dropdown, select DefiDollar.
- You are now connected to DefiDollar. All the savings strategies you perform now are based on DefiDollar’s APY.
Note: DefiDollar charges 0.5% as withdrawal fees.
About Xend Finance
Xend Finance provides the tools and platform for a decentralized financial credit union, regardless of geographic location and the home country currency. Members can earn multiple levels of interests on their savings by seamlessly exchanging their crypto or fiat currency to stable cryptocurrencies and staking — the process of locking up crypto assets to earn yields — on lending platforms so members can earn compound interest on their money. The Xend Finance platform is the first decentralized finance (DeFi) credit union in the world.
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About DefiDollar
DefiDollar is a Defi Protocol Lab building to take DeFi to the masses and aims to simplify access to Web3.0 based DeFi products. In less than a year, DefiDollar already has a diverse product portfolio that addresses various user needs via DUSD, The Savings Account,ibBTC — Bitcoin Index and Opeth. Based out of India and building for the world, DefiDollar has integrated and partnered with leading DeFi protocols like Curve, Yearn, Badger DAO, Opyn, SushiSwap, Nerve Finance and more.
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