Annex DeFi 3.0 vault earnings are being paid out in BUSD on BNB Chain and USDC on Cronos and currently offering high APYs for liquidity pairs.
High APYs in a Bear Market
Annex Finance’s DeFi vault 3.0 is garnering interest as some of the liquidity pairs are currently showing high APYs.
While most protocols have been affected by the downturn in the market, Annex Finance is powering onward. The liquidity pairs in the Annex Finance vault, such as ANN-BUSD and ANN-WBNB, are currently offering APYs of 725.216% and 881.345% respectively.
The Annex DeFi 3.0 vault allows users to participate in profit sharing through staking $ANN tokens (governance tokens) and Iron Wolf NFTs to boost their rewards. The earnings are paid out in BUSD on BNB Chain and USDC on Cronos. The more ANN staked in the vault, the more profit-sharing rewards received.
“The DeFi 3.0 Vault will help investors in this bear market by increasing their portfolios due to the stablecoin rewards. You can stake our limited NFTs to earn a percentage of our daily $14,000 rewards in Stablecoins, with a minimum of 1 NFT staked and a maximum of 10,” Daniele, Business Manager at Annex Finance, mentioned in a recent AMA with Firebird Finance. “The NFTs act as a booster for your ANN rewards, reaching up to 200% with the 10 NFTs. This vault’s rewards amount to $5.1M per year.”
The total supply of NFTs is 2,000. Approximately 500 are distributed among Annex users and can only be purchased directly on Annex Finance’s secondary market.
Reduced NFT Emissions
The Social Media Manager at Annex Finance, Carlos, explained to Web3Wire that Annex Finance has a strict policy regarding NFT emissions. They are put on the market sparsely to keep inflation in check and to maintain high APY interest rates.
Daniele believes that APY interest rewards are high because the rewards that suppliers receive are paid entirely by borrowers who take loans that result in huge ANN rewards. In contrast, Annex takes a minimal amount from that figure. Therefore, the protocol maintains positive interest rates across all assets, where the ANN rewards pay for all loan interest, thereby indirectly increasing the TVL.
“The current APY is only going to increase, as we are getting more and more users every day. All the interactions with our platform generate revenue for the treasury, which we share among our users via the DeFi 3.0 Vault, the LP farms and the future Space Station Vault, which will be focused on our more modest users,” Carlos told Web3Wire.
Annex Finance will also soon release the Space Station Vault for modest users, with $1,000 in stablecoin rewards distributed on a daily basis equally per NFT staked.
What is Annex Finance:
Annex Finance is a decentralized lending protocol that enables users to lend/borrow using borderless stablecoins. The platform offers services such as lending, automated market-making DEX, decentralized auction, and an NFT marketplace.
Annex Finance hopes to revolutionize DeFi with ANN – its multi-utility native token. The platform was initially built on BNB Chain (formerly Binance Smart Chain) but had plans in its roadmap to expand into other blockchains. The entry of Annex Cronos Mainnet has been relatively successful and has seen the platform is among the top gainers on Cronos in terms of TVL.
Where to find Annex Finance:
Source : bsc.news
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