Ethereum Classic (ETC) Pioneering Financial Inclusion and Improved Interest Rate on Celsius NetworkJune 24, 2020
The Celsius Network have added Ethereum Classic to their platform. Of note, Celsius is a cryptocurrency based lending platform. The platform was founded with the purpose of making it possible for internet users to get loans in a way to benefit all the users of the platform.
Ethereum Classic tweeted: “Celsius is a cryptocurrency based P2P lending platform. Currently #EthereumClassic deposits earn over 6% APR when choosing to accrue more $ETC.”
The good thing about the platform is that the loans are automatically handled and it does not require user interaction. Further, there is no need for fund lockup. Users will also have the comfort of being able to deposit and withdraw the cryptocurrency as they please.
With Celsius supporting the launch of support for ETC, the ETC holders will be able to deposit their coin on the platform to earn further interest.
James Wo, Chairperson of Ethereum Classic recollected on how Financial Inclusion and diversity is set to be the major founding values related to ETC labs and on how it proves true today with the Celsius case.
Sydney Ifergan, the crypto expert tweeted: “Interest yields matter. It is good to see the Celsius network providing for ETC with high interest yield. Those who are interest conscious might like it.”
There is no wonder the ETC is having increasing numbers of active accounts when compared to several other major cryptos. Also, interesting is that ETC is the only Dapp capable blockchain which does not provide for an infinite supply.
Ethereum Classic (ETC) Socially Scalable
It is already well-known that ETC is a network which is empowered by strangers from across the world where in they co-ordinate on the network with money, property and several agreements like the socially scalable, trust-minimized and permission less features.
Ethereum Classic reinstated on their core concepts with a recent tweet: “#EthereumClassic is a global, open-source #blockchain for #dApps powered by #smartcontracts. Additionally, it retains the optionality to benefit from quality upstream developments introduced on Ethereum.”
ETC Core tweeted: “Developers are upset about #Apple’s 30% revenue cut & in-app-purchase coupling should turn their protest into action by building #decentralized applications on public #blockchain. – No trusted third parties – No censorship – No dev license required.”
MetaSwap PoC implementations with instant cross-chain swaps is a topic of recent interest. Of note, the Metaswap Protocol Leverages meta-transactions in a way to make it possible for instant, trustless and gasless swaps between specific assets.