Celsius Network things 2 steps ahead in keeping assets safe and in taking proactive security checks. These include securing the crypto keys in a distributed way through MPC Protocols, 24/7 live monitoring via our Global Security Ops Center, AI-based anomaly detection and prevention within our apps, simulated attacks and exercises to help shape the security actions going forward.

Thus, counteracting hackers who spend millions for an opportunity to steal billions.

Celsius is all set to put unparalleled economic freedom in the hands of the people. The community believes in the idea of unbanking themselves to earn up to 15% APY on digital assets and to take out a loan starting at just 1% APR when using Celsius wallet. And, safety first always.

Meanwhile Alex Mashinsky expressed: “Burn it Baby see how much CEL we burned this week.”

Further during a recent AMA Alex stated, at Celsius Network we paid $1B in yield to 1m people The Banks paid Billions in Fines and almost nothing to people UnbankYourself and HODL with Celsius.

Burning roughly $300k per week is amazing.  Coin burning is the process where cryptocurrency miners and developers remove a specific portion of coins from circulation to control their price. It is a common industry practice to incentivize long-term holding among users, by managing the price through restricting supply. This is generally done periodically.

When the developers and miners burn the coins, the number of coins available in the digital currency market reduces. As a result, the price of the coin will increase at least theoretically it should.

All cryptocurrency coins can be burnt. It is the act of sending cryptocurrency tokens to a wallet which has no access key. Without the private key, these tokens cannot be accessed by anyone and are lost forever.

Thus, when token burning occurs, a specific amount of cryptocurrency is permanently removed from circulation. Simply put, token burning is decreasing the supply while demand remains in place. Theoretically at least, this should increase buy pressure and it works as an incentive for investors to hold on to their funds.

Community response:  It is wonderful; but what about the fluctuations within the yields paid out? For example, you once again lowered the APY for OxPolygon, which began at 13.99% then with no warning dropped to 10.51% and now it’s at 8.99%. Many take out loans based on the rates they’re receiving.

Yeah I don’t think rates in any platform are reliable. Celsius is quite upfront about potential rate drops. Crypto should probably not factor into any serious, long-term financial planning. That said, which DeFi projects do you recommend for yield? I’m keen on exploring more.