PANews reported on April 10th that according to CoinDesk, the DeFi protocol Umoja has launched a product that allows cbBTC token holders to earn an annual yield of 6% on the Layer 2 network Base. Umoja achieves this yield by utilizing a series of centralized and decentralized exchange strategies, including covered call options and arbitrage. The Umoja protocol supports multiple yield vault tokens (YVT) collateralized by cryptocurrencies, including real-world asset tokens. One of these YVTs is yBTC, which users can mint after depositing cbBTC on the protocol.
Umoja launches new product: Support cbBTC holders to obtain 6% annualized return on Base chain
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