Miami, Florida, Feb. 14, 2023 (GLOBE NEWSWIRE) --
Archimedes Finance has announced the launch of its Liquidity Pool on Curve today as part of its two-phase launch on the Ethereum mainnet. Archimedes' marketplace is designed to provide leverage and NFTs for borrowers, as well as sustainable, real yield earning opportunities for liquidity providers. Archimedes allows DeFi users to earn top of the market APY returns with their stablecoins, projected to start at ~15% for liquidity providers.
At the core of Archimedes is its leverage engine. With this mechanism, Archimedes is able to provide borrowers with up to 10x leverage on their own yield-generating assets. The leverage is powered by incentivizing LPs (liquidity providers) to park their otherwise idle stablecoin assets in the Archimedes 3CRV/lvUSD liquidity pool, a pool made up of all stablecoins, on Curve Finance. This specific stablecoin pairing of 3CRV and lvUSD, Archimedes own internal stablecoin, provides the LP a more passive yield generating experience, and an APY that consistently competes for best in the industry.
What this means for Liquidity Providers:
By having the liquidity pool on Curve, it is ensured that Archimedes never has custody of liquidity provider funds. This means that users are able to remove their liquidity from Curve, one of DeFi's most trusted stablecoin DEXs, at any time.
Liquidity provided in the Archimedes pool is put to work in a way that not only rewards LPs with sustainable top of market...
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