AVAX listing and Smart Yield wallet now available in the SwissBorg app!
In our continuous efforts to provide our users with more ways to grow their wealth, we are listing more tokens and adding more Smart Yield wallets. This week, it's AVAX's turn!
As of April 11th, SwissBorg users can add AVAX to their portfolio and immediately start earning 7.5% p.a. through our Smart Yield program.
Before deep-diving into why you might want to consider earning a yield on an asset like AVAX and how to do so with SwissBorg, we will give AVAX the proper intro it deserves.
AVAX, also known as Avalanche, is a base-layer network on which decentralised applications (DApps), smart contracts, and custom blockchains can be built. Some even call Avalanche the go-to platform for DeFi.
Often seen as a competitor to Ethereum, Avalanche operates on a proof of stake (PoS) model, is faster (approx. 4,500 TPS) and has lower fees than the blockchain giant.
Taking this into consideration, it's no surprise that many smart contract applications decide to deploy on Avalanche in an attempt to outperform their rivals.
Avalanche now secures 450+ projects, has a community of 1.5M+ members with 1,350+ individual block-producing validators, and is growing rapidly.
Avalanche's other distinctive features include:
- Unique consensus mechanism where small, random subsets of network participants confirm transactions.
- Varying transaction fees based on network congestion and transaction type. These fees are burned, increasing AVAX scarcity.
- A maximum supply of 720M with AVAX users governing coin minting speed.
- A boost in AVAX rewards for network participants based on high uptime and fast response times.
Its native token AVAX is used for staking and thus securing the platform, paying fees for processing transactions, and as a measure of value among the Avalanche subnets.
All in all, this fast, secure, affordable and open-source platform has come a long way since its 2020 launch.
At the time of writing this article, Avalanche holds 10th place on the list of the biggest cryptocurrencies.
Why earn a yield on AVAX?
Owning tokens from a promising platform like Avalanche can be great. Of course, this all depends on the market conditions, how diversified your portfolio is, and other factors.
To make the most out of an asset in your portfolio, be it AVAX or something else, you can start yielding and earn a passive income.
SwissBorg runs the Smart Yield program on many popular assets, including AVAX.
The benefits of the AVAX Smart Yield wallet
At SwissBorg, we aim to turn as many processes as we can into just a few taps, including yield farming. With our Smart Yield program, you can lower your risk and avoid dealing with all the complications of earning a yield the "manual" way.
Your yield is compounded daily, meaning you get a higher yield over time. Plus, there is no minimum investment period.
How do you get started? A deposit of only $10!
Once you start yielding with SwissBorg, our Smart Yield strategy optimiser will invest your assets in only the lowest-risk platforms. This is possible through the optimiser's constant monitoring and rating (based on risk) of available investment opportunities.
To offer full transparency of how the Smart Yield program is performing, we release monthly Smart Yield reports.
Boost your yield by becoming Premium
All SwissBorg Premium users receive a boost on their yield. Depending on your Premium account type, the boost can be either 1.5X, 1.75X or 2X.
Along with the yield boost, Premium users enjoy discounted fees on their exchanges.
More information is available on our SwissBorg Premium account options page.
Start earning a yield on AVAX today!
For all of you eager to start earning a yield on AVAX, doing so with SwissBorg takes only a few steps:
- Update your app to the latest version
- Deposit, buy or exchange to AVAX
- On the Portfolio screen, tap on AVAX
- Scroll down, and tap the Yield Wallet card
- Tap Top Up
- Choose how much you would like to add to your yield wallet
- Follow the prompts to start earning a daily yield!
Note that while there is no minimum investment period, redemptions are actioned every 24 hours. Once you ask to redeem funds, they will be transferred to your active account at 8 AM GMT the following day.
Invest in AVAX today with the SwissBorg app
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