Ledger Expands Live App with Feature That Allows Generating Yields on Stablecoins

The platform now offers annual rates of up to 9.9% for those who deposit assets like $USDT, $USDC, $USDS, and $DAI. This new feature allows users to participate in DeFi protocols without relying on centralized exchanges and without manually managing smart contracts.

- Ledger has added an option to its Live app for generating yields on stablecoins, without giving custody of funds to third parties.

- The platform offers annual rates of up to 9.9% for those who deposit assets like $USDT, $USDC, $USDS, and $DAI.

- Users can participate in DeFi protocols like Aave, Compound, MorphoLabs, Spark, and Sky, without relying on centralized exchanges or manually managing smart contracts.

- The company's partnership with Kiln Finance facilitates the integration of these protocols into Ledger's service.

- This allows users to access yields that are typically higher than those offered by traditional exchanges, which rarely exceed 3%.

- All operations are performed from the same Ledger Live app, with assets always secured in the user's physical wallets.

- The minimum deposit amount is $50, and users can move and withdraw their assets at any time.

- In other news, Level protocol reported that its stablecoin slvlUSD achieved an annualized yield of 9.28%.

- This yield is calculated by considering the income generated by the protocol, dividing it by the average daily market cap of slvlUSD since the last distribution, and then annualizing it with compound interest.

- The company's statement highlights that this positions slvlUSD as one of the stablecoins with the highest returns at the moment.

- However, just like with other DeFi products, these rates do not guarantee stability in the future.

- Moreover, Level's stablecoin service is not available to U.S. users due to regulatory issues.