What’s more fun than yield farming with stablecoins? Yield farming with rare precious metals. This unique opportunity has finally been presented to the DeFi community by Kebab Finance.
Kebab Yield Farming With Precious Earth Metal
Kebab Finance announced on June 10th via Twitter that they have made yield farming with tokenized bullion precious metals available. They have said that their metals are backed 1:1 by a physical reserve in its secured vault and have opened farming for Silver. The team hopes to spread this across all DeFi platforms to combat volatility concerns in crypto.
Owning the tokenized Kebab Silver KSLV is now the same as owning the underlying Silver metal. This means an owner can swap between crypto and tokenized bullion at any time. The Kebab team wants to go away from the usual stablecoin and token yield farming asset to something more real, more rare – a precious metal yield farming opportunity.
To cater for the decay and storage of its reserved precious metals, Kebab charges a small negligible fee. For its tokenized Silver KSLV, the team has set a decay rate of 0.005479151% daily, or about 2% yearly. This decay rate would differ for various types of metals as the cost for storing different metals also varies in price.
The Kebab team stores their silver in a Singapore vault. Singapore is an island country with strict immigration laws. The team confirmed they will have audit reports, photos, and stock for all investors.
Silver Token Farming
KSLV LP farm is available with a 5X multiplier and quite the low risk. Earn up to 130.15% APY by staking on the LP Farm.
Simply unlock your wallet with any of Metamask or Web3 Wallet on the Kebab Finance protocol.
Provide Liquidity with KSLV and Kebab token HERE.
Head back to the farm page and stake.
Silver farming will be the first of its bullion but users should soon expect a new KGLD, a gold equivalent.
Why Farm with Precious Metals?
Precious metals like gold and silver are appreciating assets. With the latest uncertainty surrounding the US dollar and inflation due to the recent influx of $4.1 trillion into the monetary supply. Investment tied to precious metals are growing because they are anti-inflation. With KSLV you can hold an appreciating asset while earning interest on it at the same time.
The Kebab team said they hope this will be a “game-changer” in their official documentation. As precious metals rally in the markets faster than the Dollar and DeFi provides new, innovative outlets for investors to realize gains it seems like a great time to pair the two. Kebab hopes that their longevity in the BSC ecosystem will be a testament to their ability to make this happen. They hope users will instill faith in their newest innovation.
About Kebab Finance
Kebab Finance is the Decentralized Exchange (Dex) that leverages the Automated Market Maker technology. The team aims to surpass other AMM protocols with its superior yield farming and seems to be achieving that with the launch of its tokenized precious earth metals KSLV and the upcoming KGLD. The team hopes this concept gets caught on by other DeFi users and protocols.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.