Bybit, a crypto exchange based in Dubai, is looking to capitalize on the potential of the improved Ethereum blockchain coming out of Shanghai.
The Shanghai Upgrade, which followed Ethereum Merge in September, is a hard fork on the Ethereum blockchain that will let ETH holders take out their assets.
ByBit has made it easier for users to add liquidity to Curve Finance, a decentralized exchange, through its staking pool.
The process has been reduced from eleven steps to just three, resulting in cost-saving for users. Additionally, ByBit users can access the product using their BTC, USDT, and USDC balances, with an estimated ETH staking annual percentage rate (APR) of up to 6.5%.
Ben Zhou, who is the Co-Founder and CEO of Bybit, said the cryptocurrency exchange will offer “very liquid and trading-connected ETH staking options” when the anticipated Shanghai Update is taking place. This will provide the exchange’s users access to “lots of fresh possibilities.”
By introducing our Web3 Staking Pool via a dedicated landing page, we are making it easier for users to interact with decentralized finance and gain more rewards for their assets. Essentially, we are offering single-sided staking, which boosts the APR of ETH
Read more: Deadline to Close Signature Bank Crypto Accounts: April 5 (brokerstimes.com)
