Dear Bitruers,
As we previously hinted in our Whitepaper 2.0, Bitrue has been harboring DeFi aspirations for quite some time now. Behind the scenes we've been working hard on what we see as the next phase of our platform - a financial management service, specialized in cryptocurrencies, that offers a mix of both CeFi and DeFi products.
Starting out we'll be launching a DeFi alternative to our Loans feature, which will enable users to take out loans via smart contracts and have the details submitted on chain. The trustless and immutable nature of the blockchain will enable users to always be 100% confident that they are receiving fair deals and that the terms of the loan have not been altered. What's more, Bitrue are putting in the effort to increase the usability of this service compared to other DeFi protocols - we will be offering a cross-chain loan service, which means you won't be confined to borrowing and lending coins that are on the same blockchain. In the first phase we'll be starting out with XRP and ERC20 coins, with more chains added regularly.
By providing both CeFi and DeFi products at the same time, we are able to satisfy the needs of different types of users. Regardless of your preferred time horizon, the yield you want to receive, how long you're prepared to lock up your coins for, and how much you want to invest, there will be an opportunity for you to invest in a way that you're most comfortable with.
One of the benefits of DeFi lending is yield farming, which lets you earn interest in exchange for providing liquidity in the lending pool. With Bitrue's DeFi launch we will also be supporting yield farming with the ability to earn a new token, Bitrue Finance Token (BFT). This new token will be used in all of our DeFi functions in the future.
We'll be starting with a token sale for BFT next week, with an airdrop going out to all BTR holders and opportunities for users to win extra amounts. Stay tuned for more information about the token sale and related activities coming very soon!