Bybit, a cryptocurrency with the second largest BTC Futures exchange by open interest, launched its new Liquidity Mining on May 19, 2022.
Bybit users will have access to three liquidity pools: Bitcoin (BTC), Ether (ETH), and BitDAO (BIT), all paired with Tether (USDT). The pools will allow users to deposit funds and earn up to 30% APY.
Liquidity providers in all 160 countries where Bybit operates will be able to add one or both sides of the liquidity pair. The pool will automatically rebalance the assets and minimize the risk of impermanent loss. Liquidity providers will earn rewards in USDT that can be credited to their accounts or reinvested in the pool to increase rewards.
Bybit’s Liquidity Mining pools are based on a revamped automated market maker (AMM) model. Users can add liquidity to earn yield derived from trading fees. The liquidity pools will also allow Bybit users to swap between assets without needing to leave the platform and with minimal slippage.
Bybit also offers strategies to lock in profits and limit losses based on market movements, real prices that protect users against market manipulation, and an i …