Bitfinex #Borrow is growing fast 🚀 The community has been asking for more collateral options, so now’s your chance to choose! 💰 Which collateral option would you like to see next on #BitfinexBorrow? — Bitfinex (@bitfinex) February 24, 2021
An overwhelming majority of Bitfinex’s growing community opted for IOTA, with the token gathering 87.6% of the votes in a social media poll.
Paolo Ardoino, CTO at Bitfinex, said:
“Our customers have spoken. IOTA’s success in our recent social poll is a testament to its enduring popularity and track record for innovation in the field of distributed ledger technologies.”
Bitfinex customers can now obtain loans of up to 70% of the value of their IOTA holdings in US Dollars (USD). Borrowers will have to manage their own risk of fluctuations in the IOTA price.
Bitfinex Borrow is a peer-to-peer (P2P) digital token loan portal that allows users to borrow funds from other users by using their cryptocurrency or fiat assets as collateral. IOTA is among 13 digital tokens available as collateral on Bitfinex Borrow, along with USD, euro, and yen.
Bitfinex’s community-first approach extends to its ongoing commitment to democratising access to financial markets, by providing advanced tools such as the Honey Framework and Bitfinex Terminal for the wider digital token ecosystem.
Nothing in this post is financial, investment, or other advice. Nothing in this post is an offer to borrow or lend or the solicitation, recommendation, or endorsement of any course of borrowing or lending. Any references in this post to returns are only hypothetical and not guaranteed.
* The rates, payment amounts, and the collateral price reflected represent an estimate, based on current market conditions, of the interest rates and amounts payable based on the loan amount, collateral, and duration selected. These values are hypothetical and not guaranteed to be the same as, or reflective of the actual interest rate, payment obligations, or collateral price applicable to a loan a user decides to take. This information is provided for information purposes only.
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
Joe Morgan, Senior PR Manager, Bitfinex