Bitcoin holders are often left behind when it comes to DeFi solutions. Most platforms require users to convert Bitcoin to wrapped tokens, locking funds into smart contracts which has led to inefficient fees, impermance losses and in somecases stolen funds. SmartFi eliminates these kinds of Defi risks.
SmartFi works with "real" bitcoin
There is a lot of untapped liquidity in the cryptocurrency world. Where most projects focus on Ethereum and its ecosystem, the Bitcoin users are the ones who can make or break any DeFi solution, given the dominance of the cryptocurrency.
The downside to using most of the current DeFi solutions is that Bitcoin holders need to convert their BTC. They either have to buy Ethereum and ERC-20 tokens or use Wrapped Bitcoin, sBTC, renBTC, and so forth. With SmartFi you don’t have to convert your tokens, just deposit them to the platform and go. Tapping into hundreds of billions of dollars in liquidity without requiring token conversions is a big step forward.
Peeking under the hood
For an even greater yield you can open a Crypto Interest account. Bitcoin users can simply hold their BTC directly within SmartInterest to yield a variable APY up to 6% (at the time of writing), without wrapping coins! A first for DeFi, meaning you can earn on your crypto without the risk of fees, or assets losses. Such a solution benefits users who are looking to grow their wealth over time and who favour steady growth metrics.
For an even greater yield, holding SmartFi’s native speculative token SMTF, can earn users an APY of up to 13% (at the time of writing) through SmartFi's SmartInterest feature and SMTF.
Compounding interest rates
SmartFi provides crypto depositors with a variable interest rate, yet they can compound monthly. As mentioned earlier, the rate can go up to 13%, which is competitive in the current DeFi landscape.
As far as other DeFi platforms go, there is no genuine option to earn compound interest at a decent rate. Although some services have launched this option, their APY rewards remain limited. Moreover, those other platforms require Bitcoin holders to convert their BTC into other tokens first, rather than supporting BTC directly.
SmartFi has a native blockchain infrastructure that supports BTC directly. This will prove beneficial to DeFi enthusiasts since transacting on a chain like Ethereum can become expensive very quickly.
Conclusion
SmartFi is providing Bitcoin holders with a way to put their crypto assets to work and earn a competitive APY in exchange. Without having to wrap one's BTC holdings or incur exorbitant fees converting to Ethereum,
Those who hold Bitcoin for the long-term can reap the benefits from what SmartFi offers and for the more adventurous, the SmartFi speculative token SMTF can offer one of the highest APY’s on the market today, creating an extra incentive.
