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December 08, 2023

Gate.io Lend & Earn Reaches New Heights with $500M in Loaned Assets

In Brief

Gate.io has reached an all-time high of over $500 million in capital committed by lenders, with nearly a quarter of that sum being in the form of Tether (USDT).

Dec. 8th, Panama,Panama City – Gate.io, a leading crypto exchange and Web3 innovator, has announced a significant milestone for its crypto lending platform, Lend & Earn. The platform has reached an all-time high of over $500 million in capital committed by lenders, with nearly a quarter of that sum being in the form of Tether (USDT).

Lend & Earn has quickly become one of Gate.io’s most sought-after features. The platform utilizes intelligent algorithms to match borrowing demand with available capital, ensuring that both lenders and borrowers receive optimal rates appropriate for the current market and demand.

Fair and honest lending backed by 100% Proof of Reserves

Gate.io credits Lend & Earn’s growing popularity to the recent upgrading of its Proof of Reserves process. This upgrade has significantly improved user confidence by providing more frequent reserves reporting on the top 100 assets by market cap. All user funds, including those committed by lenders, are reflected in these reports. Additionally, the new Auto-Lend feature allows users to automatically allocate unused and idle assets from their trading accounts towards lending.

Unlike many other platforms, Lend & Earn offers unparalleled flexibility in crypto lending. Users can redeem their loaned assets at any time, with funds returned within the hour. Additionally, lenders are afforded principal protections, can easily compound their accumulated interest, and manually configure rates as opposed to dynamic rates.

Gate.io’s Lend & Earn platform has become a game-changer in the world of cryptocurrency lending. Its impressive growth and innovative features demonstrate Gate.io’s ongoing commitment to providing its users with the best possible digital asset experience and opportunities.

About Gate.io

Established in 2013, Gate.io is one of the world’s earliest cryptocurrency exchanges and a leader among compliant and secure digital asset platforms, offering diverse trading services with 100% user-verifiable Proof of Reserves. Further, the platform has consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko. Besides its primary exchange services, Gate.io has diversified its ecosystem to offer decentralized finance, research and analytics, venture capital investing, wallet services, startup incubation, and more. The platform currently serves more than 13 million active users worldwide.

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For more information and media inquiries, please contact Elaine Wang at [email protected].

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

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Gregory Pudovsky
Gregory Pudovsky

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

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