Kalmar Launches Leveraged Yield Farming Platform and Upcoming Airdrop
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Kalmar, a decentralized bank running on Binance Smart Chain, has launched its first DeFi product – their leveraged yield farming platform. Users will be able to lend BNB (Binance Coin) and earn interest or borrow BNB from the bank to farm yield on leverage with up to three times their initial capital.
What is leveraged yield farming?
As the name suggests, the leveraged yield farming platform is a product that enables users to farm yield with leveraged positions. On Kalmar’s protocol, users have the options to be a lender or a borrower.
Users can become a lender by providing BNB to Kalmar’s bank feature. By providing their capital, lenders take a percentage of the returns from borrowers, therefore earning them interest over time.
On the other hand, users can become borrowers by simply borrowing assets from the bank to increase their yields from farming in other DeFi products (such as PancakeSwap farms). This amplification is the strength of what leveraged yield farming can provide to a user’s portfolio.
Want to join Kalmar’s airdrop? Here’s how!
The team has planned an airdrop to be distributed during the official launch of the KALM token. To be eligible for the airdrop, users will have to be an existing lender or borrower of the leveraged yield farming product.
For lenders – there’s no minimum amount of BNB that they are required to deposit in order to participate in the airdrop. However, lenders are required to have at least used a minimum leverage of x1.5 to be eligible for the airdrop. Multiple snapshots are still taken daily.
To find out more details about the yield farming product, the airdrop and upcoming products – do make sure to check out Kalmar’s official sites.