Crypto exchange Bybit has partnered with lending protocol Avalon to offer Bitcoin yield to its users.
According to an April 14 Avalon Labs X announcement, the centralized decentralized finance (CeDeFi) protocol will now be a part of the exchange’s yield product, Bybit Earn. Avalon said it will allow the platform’s users to earn yield from Bitcoin (BTC) by arbitrating on its fixed-rate institutional borrowing layer.
Source: Avalon Labs
Avalon Labs announced in March that it raised a minimum of $2 billion worth of credit with possible scaling as the need arises. The product allows institutional borrowers to access USDt (USDT) liquidity without liquidating their Bitcoin holdings at a fixed 8% borrowing cost.
In February, Avalon Labs also announced