Finance Wallet V2 is here — Stake Your Crypto and Earn the Best Possible Yield!
In September 2020 we released our first DeFi feature, the Finance Wallet. As the first P2P cryptocurrency trading platform to include a DeFi feature, CryptoLocally instantly helped spread decentralized finance to more people. Our goal and reason for releasing this product was and still is to help provide a path to financial inclusion and make DeFi more accessible for everyone, regardless of their location.
Through strategic partnerships with leaders within the industry, we have taken steps toward bringing DeFi to more places around the world. The first version of the Finance Wallet was designed to allow users to earn staking rewards on ETH, DAI, USDT, USDC, and our native token, GIV. Since then, we have added Uniswap’s token, UNI, to the Finance Wallet as well. Version 1 (V1) of the Finance Wallet has given users the opportunity to earn staking rewards on those tokens at respectable rates, but it was only the first iteration of the feature.
Today we are announcing the debut of Version 2 (V2) of the Finance Wallet, which comes with additional capabilities and support that make it a DeFi feature that can rank among the top DeFi products on the market!
What’s new in Finance Wallet V2?
Finance Wallet V2 is powered by Compound, Aave, Maker, and dY/dX through Idle. Integrating the most popular platforms in the DeFi market has enabled us to design the Finance Wallet V2 in a way that makes yield farming easier than ever. In general, V2 offers a higher yield for users, as displayed in the example images showing the current APY for V2 and V1 below. This makes yield farming on the platform even more enticing.
Example of APY for Version 2:
Example of APY for Version 1:
Finance Wallet V2 is also the first iteration of CryptoLocally Vaults (CLVs), built in partnership with Idle, which utilizes smart contract algorithms to optimize yield based on the yield strategy.
In addition to the previously mentioned upgrades, users can now see the total value (TVL), in USD, of all assets that are staked on the Finance Wallet.
Keep in mind that if you have staked your crypto on V1 already, you will need to unstake on V1 and then restake on V2 (Available now) in order to use the newer version.
Watch the video below to learn how to use CryptoLocally’s Finance wallet: