Passive income

AlgoVest to Launch AlgoPool, Providing Up To 60% APY In Passive Income To USDC Holders – Crypto Mode

Summary

Press Release: AlgoVest is pleased to announce the launching of its AlgoPool solution this month. Through AlgoPool, investors can generate passive income in DeFi through the USDC stablecoin at a rate of up to 60% APY. 

November 21, 2021 – Yield farming remains a popular aspect of the decentralized finance (DeFi) industry. AlgoVest throws its hat into the ring through their AlgoPool income generation solution for USDC holders. AlgoPool is an investment yield platform powered by alg…….

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Press Release: AlgoVest is pleased to announce the launching of its AlgoPool solution this month. Through AlgoPool, investors can generate passive income in DeFi through the USDC stablecoin at a rate of up to 60% APY. 

November 21, 2021 – Yield farming remains a popular aspect of the decentralized finance (DeFi) industry. AlgoVest throws its hat into the ring through their AlgoPool income generation solution for USDC holders. AlgoPool is an investment yield platform powered by algorithmic trading and artificial intelligence. That hybrid approach has yielded over 150% in profit in less than 12 months, confirming the AlgoVest team’s approach to generating passive revenue is working wonders.. 

There will be three initial AlgoPool investment yield pools to choose from:

  • Locking USDC for 8 weeks in exchange for a 20% APY. Users can claim their interest weekly or when the eight-week contract finishes.
  • Locking USDC for 16 weeks in exchange for a 40% APY. Users can claim their interest weekly or when the sixteen-week contract finishes.
  • Locking USDC for 24 weeks in exchange for a 60% APY. Users can claim their interest weekly or when the twenty-four-week contract finishes.

Participating investors can deposit USDC to a pool of their choice. However, users can only access the USDC deposit feature if they stake AVS, the native AlgoVest token. Once AVS is staked, investors can deposit USDC equal to ten times the number of their AVS stake. Furthermore, there is an extra benefit to staking AVS, as it yields 8% APY. These rewards are separate from the interests earned from the USDC investment yield pool.

AlgoVest – Providing Stability and Security

The launch of AlgoPool will mark a significant milestone for the broader cryptocurrency industry. Seekers of passive income can explore that option through USDC, a currency that does not suffer from USD-linked volatility like Bitcoin or Ethereum. Its price remains $1 at all times, creating a low-risk staking and yield farming solution for all crypto enthusiasts globally.

Furthermore, AlgoVest protects users’ funds through two different external security and smart contract audits. The AlgoPool will also offer deposit-protection risk coverage through a decentralized insurance provider. Initially, there will be an internal insurance funds mechanism – building up over time – to provide up to 100% cover for all deposited USDC in the AlgoPool.

Crypto investors looking to put their USDC holdings to work for passive income generation can explore what AlgoPool offers. It is backed by a proven algorithmic trading system and artificial intelligence. 

To find out more about AlgoPool, keep an eye on the AlgoVest community and social channels on Telegram and Twitter. Those channels will …….

Source: https://cryptomode.com/algovest-to-launch-algopool-providing-up-to-60-apy-in-passive-income-to-usdc-holders/