Xend Finance — Five (5) reasons why you should invest in Xend Finance.
The Binance backed DeFi credit union protocol; Xend finance recently launched the version two (V2) of its incentivized testnet as it prepares to wrap up the exercise which is scheduled to end on January 15, 2021. The version two of the incentivized testnet is a product of bug fixes, necessary updates and corrections pointed out by the Xend finance community in the version one (V1) of the project.
FIVE REASONS YOU SHOULD INVEST IN XEND FINANCE.
As we prepare for the launch of the Xend finance mainnet, here are five reasons why you should get ready and invest in Xend finance.
- A Disruptive, Scalable Project:
Xend finance is disrupting the traditional Savings and investment mechanism which is marred by centralized control, location restriction on investors and insecurity of investments.
As a decentralized Credit Union protocol, Xend Finance is enabling investors across the globe to save, lend, invest and earn interests instantly with no single entity in control of the transactions.
More so, to ensure that your deposits are safe, Xend Finance leverages decentralized insurance to protect the deposit of its users.
2. High Annual Percentage Yield (APY)
Xend finance seeks to maximize investors’ returns on investment (ROI) as it offers a good annual percentage yield (APY) which is estimated to be up to 15%.
To achieve this, Xend Finance periodically invests user savings (deposits) on DeFi lending protocols such as Compound, AAVE & Yearn Finance Protocol in other to generate interest for the users.
3. Low Transaction Fees and Nil Currency Volatility:
A major hindrance to the increasing adoption of Defi on the ethereum blockchain is the issue of high transaction (Gas) fees. It got to a point when transaction fees rose to about 200 gwei. However, by building on the Binance Smart Chain, Xend finance has ameliorated this problem by reducing the gas fees to as low as 10 gwei per unit of gas. The real transaction fees on Binance Smart Chain will only be around 1 cent.
Xend finance is also tackling the challenge of currency volatility to ensure that your deposits do not lose its value due to exchange rate fluctuation. To achieve this, your fiat deposits are converted to BUSD, a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), approved and regulated by the New York State Department of Financial Services (NYDFS), which you can use to carry out different operations on the Xend Finance network.
4. A great Community:
Xend Finance is also growing a community of Xenders on its telegram channel where investors can interact with each other, ask questions and get clarifications and also learn new features of the Xend finance protocol as new updates are rolled out. You can join the telegram community here.
5. Easy to use User Interface (UI):
The Xend finance DeFi protocol comes with an easy to use and understandable user interface to enable users interact and carry out different savings and investment operations on the platform. There is also a help portal which contains various guides that can help even a newbie to crypto investing and Defi get started. This article explains how to use the Xend finance platform.
Conclusion:
In addition to the above, Xend finance also enhances cross-chain asset transfer and interoperability. As the testnet exercise gradually wraps up in preparation for the launch of the mainnet, it becomes necessary to understand why you should invest in Xend finance hence this article.
You can join the xend finance community on Telegram and Twitter for updates and announcements
