Five announcements were made during CEO Alex AMA yesterday.
1. Compounding interest is here
Starting Feb 1, interest income on crypto deposits will officially be compounding.
2. Earn up to 8.1% on BTC
Starting Feb 1, all eligible users can now earn up to 8% on their first BTC! Slide your interest settings over to CEL for BTC deposits, and based on your CEL loyalty level, you’ll earn between 6-8.1% APR in CEL on your first BTC. All remaining BTC in your wallet will continue to earn interest at the weekly listed rates.
3. Loyalty level facelift
Starting Feb 1, at least 5% of your total wallet balance must be in CEL tokens in order to be eligible for loyalty rewards. Platinum members also got a boost and will now be earning 35% more interest on their non-CEL deposits.
4. Korbit’s preferred wallet
Celsius Network is now the official treasury management provider for Korbit, one of the leading cryptocurrency exchanges based out of Korea.
5. Borrow against EOS!
Celsius members can now borrow cash or stablecoins against EOS.
Happy to see Celsius Network step up their game in this space. I really like the compounding feature that will save many people’s time.
Previously, I have made a comparison of the interest rates among different platforms. I will incorporate these changes in my next update.
