Bagels Finance, A First Cross-chain Leveraged Yield Farming Protocol, to List on BitMart Exchange
BitMart, a premier global digital asset trading platform, will list Bagels Finance (BAGEL) on October 25, 2021. For all BitMart users, the BAGEL/USDT trading pair will be officially available for trading at 04:00 AM EDT.
What is Bagels Finance?
Bagels Finance is the first cross-chain leveraged yield farming protocol(multi-chain). Users can deposit ETH, WBTC, USDT, DAI, BNB, HT and other assets into Bagels smart contracts to earn the highest APY in the market; Bagels aims to provide users with 2x-10x leverage to earn 2x-10x APY in yield of leveraged farming and transaction fees of LP providers. It provides better liquidity for Ethereum, BSC and other ecosystems.
- The highest lending APY on the market.
- Yield Farmers can take the most leverage (up to 10x) on the market, leading to the highest returns.
- The only cross-chain yield farming protocol on the market allowing you to interact with DeFi products on different networks.
Why Did Build Bagels Finance?
- Not Enough Leverage
Other yield farming platforms limit the amount of rewards that yield farmers can make.
- Low Interest
Lenders within the DeFi market make very little in interest on other platforms. Most platforms use an over-collateralized lending process that limits potential deposit interest on ETH to maximums of around 0.8%.
- Cross Chain is Hard
Making transactions cross-chain is currently very difficult and cumbersome. It is hard to interact with multiple DeFi products on different blockchain networks.
- Ethereum Overload
Most decentralized products are built on Ethereum to acquire new users and bootstrap liquidity quickly — and more liquidity is needed than ever. This has caused high gas fees and a slower transaction environment that is too expensive for people to participate in.
- It Can Be Difficult
Currently in the DeFi market, yield farmers tend to have to borrow on different platforms then they yield farm on.
VEBAGEL Governance Model
Token holders can deposit their BAGEL into Boardroom smart contract to get veBAGEL and some rights:
1.Gain a 85% dividends from the Bagels platform revenue per week.
3.Boosting Vault farming up to 2.5x
4.Airdrop quota from Bagels and cooperative DeFi projects
5.The longest time that users can lock BAGEL into DAO is 4 years, and the shortest is 7 days. Boost of Vault will up to 2.5x if the veBAGEL is locked for 4 years
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About Bagels Finance
Bagels optimizes the trading process to maximize liquidity farming positions and the APY for farmers. In addition to high interest rate, users can also earn lending APY and leveraged farm APY, and receive BAGEL governance token rewards according to the share of deposits and borrowings. Token holders can stake BAGEL to participate in DAO’s decentralized governance, become a board member of Bagels Finance, and receive 85% of the dividend from the revenue of Bagels platform. To learn more about Bagels Finance, please visit their website follow their Twitter and join their Telegram.