Singapore, March 23, 2022 — Matrixport, Asia’s fastest-growing digital assets financial services platform, has announced the launch of its automated market maker (AMM) farming service. The new product enables easy and secure access to quality decentralized finance (DeFi) liquidity pools for active crypto investors seeking more ways to generate yields.
AMMs are autonomous protocols that allow anyone to become a market-maker on a decentralized exchange. Fees are earned by depositing two assets represented in the liquidity pool at the same time. The algorithm will always quote a bid or ask for prices anytime for these two assets.
Cynthia Wu, head of sales and business development at Matrixport, said, “The AMM is an amazing innovation of DeFi, as it enables decentralized market making that is a fundamental expression of crypto’s vision and decentralized nature. Matrixport’s AMM farming pays homage to this decentralized way of market-making. The product lowers the entry barrier, enabling a wider base of users to participate in DeFi liquidity-farming while earning attractive yields in a secure manner.”
AMM farming adopts a user-friendly app interface that removes the technical knowledge needed to navigate DeFi protocols, allowing users seamless one-click access to DeFi AMM yield opportunities.
Yield from the company’s AMM farming is generated from two sources:
- Liquidity provider (LP) fees: As an LP to the liquidity pool, users earn trading fees from the protocol. Matrixport will collect the trading fee and settle it in both currencies on behalf of users.
- Token rewards: Some DeFi projects issue token rewards to LPs. Matrixport will help users automatically sell token rewards, if any, in every period and settle or reinvest to boost earnings. Token rewards are generally settled in Tether (USDT) or USD Coin (USDC) — the currency with the lower market price in the liquidity pool.
The product sale window opens weekly, while the deposit window opens from 4:00 am Friday to 4:00 am Tuesday, UTC. Existing token pairings include Ether (ETH)-USDT, ETH-USDC, Bitcoin (BTC)-USDT and BTC-USDC.
To find out more, refer to the product factsheet.
Matrixport is one of Asia’s fastest-growing digital asset financial services platforms. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with more than $5 billion in average monthly trading volumes. The offerings include Cactus Custody, spot over-the-counter trading, fixed income, structured products, and lending and asset management.
Headquartered in Singapore, Matrixport’s mission is to make crypto easy for everyone, and its motto is, “Get more from your crypto.” The company holds licenses in Hong Kong and Switzerland, with more than 290 employees serving both institutions and retail customers across Asia and Europe. For more information, visit matrixport.com.