PANews reported on April 10 that according to CoinDesk, the DeFi protocol Umoja has released a product that allows cbBTC token holders to earn an annualized 6% yield on the Layer2 network Base. Umoja achieves yield by leveraging a range of centralized and decentralized exchange strategies, including covered call options and arbitrage. The Umoja protocol supports a variety of yield vault tokens (YVT) collateralized by cryptocurrencies (including real-world asset tokens). One of the YVTs is yBTC, which can be minted after users deposit cbBTC on the protocol.
Umoja launches new product: Support cbBTC holders to obtain 6% annualized return on Base chain
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