RCS - Bybit - Bybit Offers Up to 30% APY…

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RNS Number : 1596M  Bybit  19 May 2022

 Bybit / Key word(s): Miscellaneous

Top Cryptocurrency Exchange Bybit Offers Up to 30% APY on Its New Liquidity
 Mining Pools

19.05.2022 / 15:15

The issuer is solely responsible for the content of this announcement.

Top Cryptocurrency Exchange Bybit Offers Up to 30% APY on Its New Liquidity
 Mining Pools

 DUBAI, UNITED ARAB EMIRATES - Media OutReach
 (https://www.media-outreach.com/)  - 19 May 2022 - 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, with even higher rewards
 available when using up to 3x leverage.

 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
 (https://learn.bybit.com/defi/what-is-an-automated-market-maker-amm/) . Users
 can add liquidity to earn yield derived from trading fees. They can also add
 leverage to increase their share of the pool and maximize their yield. The
 liquidity pools will also allow Bybit users to swap between assets without
 needing to leave the platform and with minimal slippage.

 Our leverage feature allows users to access greater yields using their funds
 as collateral. Users can manage risks and safeguard themselves against
 excessive losses with multi-layered liquidation protocols to ensure safety and
 fairness across all Bybit trades, every step of the way.

 We also have strategies to lock in profits and limit losses based on market
 movements, real prices that protect users against market manipulation, and an
 insurance fund that helps to protect traders from negative equity and
 significant losses beyond a trader's position margin.

 "We are very excited about the opportunities Bybit's Liquidity Mining will
 open up for all Bybit users. As traders ourselves, we understand the
 importance of having a diversified trading and investment strategy optimized
 for earning passive income on your assets. To that end, our products offer
 some of the best yield-earning opportunities in the market today on one of the
 most reliable trading platforms out there. This marks another milestone in
 sharing growth opportunities with our community who believe in a future of
 DeFi and personal financial freedom," said Ben Zhou, co-founder and CEO of
 Bybit.

 Apart from an opportunity to gain returns with a low barrier to entry, one
 added benefit of liquidity mining is community building through trust. It
 incentivizes asset holders to be more involved in the community and play more
 active roles.

 Bybit's Liquidity Mining pools join other stellar products as part of their
 Bybit Earn range catering for investors of varied risk appetites. The range
 includes Dual Asset, which allows users to deposit their preferred asset and
 lock in an attractive yield; and Flexible Savings, which can serve investors
 as saving accounts for cryptocurrencies and feature safe, predictable yield
 payments.

 About Bybit

 Bybit is a cryptocurrency exchange established in March 2018 that offers a
 professional platform where crypto traders can find an ultra-fast matching
 engine, excellent customer service and multilingual community support. The
 company provides innovative online spot and derivatives trading services,
 mining and staking products, an NFT marketplace as well as API support, to
 retail and institutional clients around the world, and strives to be the most
 reliable exchange for the emerging digital asset class. Bybit is a proud
 partner of Formula One racing team, Oracle Red Bull Racing, esports teams
 NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and
 association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

 For media inquiries, please contact: press@bybit.com (mailto:press@bybit.com)

 For more information please visit: https://www.bybit.com/
 (https://go.bybit.com/e/HocplBrbLfb)

 For updates, please follow Bybit's social media platforms on

 https://discord.com/invite/bybit (https://discord.com/invite/bybit)
 https://www.facebook.com/Bybit (https://www.facebook.com/Bybit)
 https://www.instagram.com/bybit_official/
 (https://www.instagram.com/bybit_official/)
 https://www.linkedin.com/company/bybitexchange/
 (https://www.linkedin.com/company/bybitexchange/)
 https://www.reddit.com/r/Bybit/ (https://www.reddit.com/r/Bybit/)
 https://t.me/BybitEnglish (https://t.me/BybitEnglish)
 https://www.tiktok.com/@bybit_official
 (https://www.tiktok.com/@bybit_official)
 https://twitter.com/Bybit_Official (https://twitter.com/Bybit_Official)
 https://www.youtube.com/c/Bybit (https://www.youtube.com/c/Bybit)

 #Bybit

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