bbSOL hits a new all-time high of $230, offering a 22% APY, expanding CeDeFi services through RateX, Save, and marginfi.
Through multi-party collaboration and innovative integration, Bybit has provided users with a diverse range of DeFi yield channels and flexible financial product options.
The world's second-largest cryptocurrency exchange platform, Bybit, has announced a new strategic integration of its bbSOL product. Through partnerships with RateX, marginfi, and Save, Bybit has expanded decentralized finance (DeFi) yield opportunities for bbSOL holders. These partnerships are in line with Bybit's mission to provide innovative CeDeFi solutions that combine the strengths of centralized and decentralized finance, optimizing yield generation and asset growth.
Collaboration with RateX to Launch the First Synthetic Yield Farming Product
Bybit's collaboration with RateX has brought synthetic yield options to bbSOL holders, offering a unique way to increase assets. By leveraged trading synthetic yield tokens (YT) on RateX, bbSOL holders can efficiently boost their yields. Additionally, the RateX platform offers features such as fixed-income earning and yield liquidity mining. By depositing bbSOL into RateX, users can convert floating yields into fixed income to ensure stable returns and further increase earnings through trading or providing liquidity.
Through Partnerships with Save and marginfi, bbSOL's Total Liquidity Value Increases by Nearly $900 Million
To further enhance bbSOL's utility in DeFi, Bybit has partnered with two prominent lending protocols on Solana—Save and marginfi. Save has a total value locked (TVL) of $3.79 billion, while marginfi's TVL is $5 billion. This collaboration connects bbSOL holders with the Web3 community and provides opportunities for decentralized lending and yield maximization.
Offering up to 22% Annual Percentage Yield (APY) with No Transaction Fees
bbSOL offers up to a 22% APY, combining base interest rates with additional DeFi yields. The product incurs no transaction fees and provides flexible instant or delayed redemption options to ensure users can conveniently and cost-effectively access CeFi and DeFi yields, surpassing other staking products.
bbSOL Now Accessible through 16 CeDeFi Partnerships, Offering Various Yield and Mining Methods
bbSOL has partnered with multiple DeFi projects, including eight Solana DeFi projects like RateX, Save, and marginfi, and has been listed on eight Bybit CeFi products. Users can directly purchase bbSOL using stablecoins, use bbSOL as collateral, seamlessly convert over 300 assets to bbSOL at zero additional cost, and engage in bbSOL/USDT trading with leverage of up to 10x in spot margin trading.
Bybit's Web3 Product Development Lead, Emily, stated: "Bybit is very proud to offer a CeDeFi solution that allows users to access, earn, and grow their assets using bbSOL on both centralized and decentralized platforms. Our collaboration with RateX has brought innovative synthetic yield options to bbSOL, while integrations with protocols like Save and marginfi have expanded opportunities for flexibility and high value within the Web3 community. Bybit is committed to supporting users through multifaceted options to meet the evolving needs of the digital asset space, maximizing user returns."
Through this expansion, Bybit has solidified its position as a CeDeFi innovation leader, providing bbSOL holders with diverse and flexible choices, further enhancing the earning potential of financial products.
This article is contributed content and does not represent the views of BlockBeats
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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