Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!

We’ve already introduced you to AscendEX, the exchange platform offering many financial services around cryptocurrencies. Today, we will focus on their new product: the DeFi Yield Farming.

Launching in July 2021, this new investment product allows you to earn interest on your stablecoins. What’s special about it? Farming rewards are paid out in three different tokens: the USDC, Polygon’s MATIC and Curve’s CRV.

Thanks to the Journal Du Coin’s affiliate link, the first 400 registrants to the AscendEX platform will be offered a $5 bonus in tokens (manually distributed by the AscendEX teams). New subscribers will also enjoy a 10% discount on their trading fees. In addition, from September 1st to September 8th, an additional 10% boost is available on Curve (Polygon) related earnings. Before you take the plunge and take advantage of these many benefits, here is the guide that will help you discover the product.

This promotional article is offered in collaboration with AscendEX, it contains affiliate links allowing you to support the daily work of the Journal Du Coin teams.

DeFi Mining on AscendEX

AscendEX is the first centralized financial platform offering a farming pool in USDC, via the Curve protocol. Users can earn interest on their USDC in a few clicks, avoiding the costly gas fees of the Ethereum network, thanks to the Polygon secondary layer solution.

This investment product is called multiple yields. In fact, the interest will be paid in 3 different cryptocurrencies: the stablecoin USDC, and the governance tokens of Curve (CRV)and Polygon (MATIC). This is certainly one of the strong points of the product, besides the lack of fees and its ease of use.

Product features

Curve (Polygon) Yield Farming – USDC currently pays an estimated 14.35% annual interest rate. This interest is paid daily and the user can withdraw the funds at any time.

  • The minimum deposit is 500 USDC;
  • The maximum deposit is 250,000 USD;
  • The minimum withdrawal amount is 500 USDC;
  • The user will have to wait 1 day between the withdrawal request and the arrival of the funds;
  • If the user wishes to deposit their interest into the cash pool, they will have to do so manually.

As we told you in the introduction, during the week of September 1 to 8, <a href=”https://journalducoin.com/AscendEX/Commercial” targe

t=”_blank” rel=”noopener”>10% additional returns

are offered on Curve (Polygon).

For a deposit made on day D (D is based on Coordinated Universal Time – UTC), rewards are calculated on D + 1 and their payment starts on D + 2.

For a withdrawal requested on D + N, the funds will be available on D + N + 1. Please note that if the user requests a withdrawal before midnight on D+N, the rewards will only be for the period D+N-1 (i.e. the rewards for the last day of farming

will not be paid out).

Yield Farming on AscendEX is therefore a very simple product to understand from a user’s point of view. You just have to create an account on the platform, deposit your funds, and allocate them to farming.

Creating a user account on AscendEX

To create an account on the platform, all you need is an email address and a

password.

However, if you want to handle large amounts of money, you will need to perform a Know Your Customer (KYC) procedure.

AscendEX - InscriptionAscendEX - InscriptionDon’t forget to use our affiliate link if you want to support Le Journal du Coin!

The interface is in English by default, but several languages are available.

Deposit funds on AscendEX

First of all,

you have to deposit USDC on AscendEX. To do so, go to the “Portfolios” menu and then to “Cash Account”.

AscendEX - DépôtAscendEX - DépôtCash account – AscendEX dashboard

Once the asset to deposit is located (in our case USDC), you have to choose the blockchain to use. In the screenshot below, it is Solana

‘s USDC (the blockchain being very fast and its fees very low). The deposit address is available in alphanumeric format, or as a QR code. AscendEX - Dépôt USDC <img width=”559″ height=”437″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/08/AscendEX-Depot-USDC-2..jpg” alt=’AscendEX – USDC Deposit’ />USDC Deposit– AscendEX Dashboard Once

the funds are available in the main account, you will need to transfer them to the cash pool itself. It only takes a few clicks. Firstly, you need to select the investment product: it can be found in the “Yield Farming” section of the “Finance” menu.

Depositing Cash in the Curve Pool – USDC

AscendEX - Yield FarmingAscendEX - Yield Farming

The different products are categorized. Curve (Polygon) – USDC can be found in the first section, which is dedicated to decentralized liquidity pools

. Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!Deposit liquidity

After clicking on “View”, you need to click on the “Deposit Now” button to transfer the funds

. AscendEX - Curve (Polygon) - USDCAscendEX - Curve (Polygon) - USDCTransfer funds

The next window allows you to choose the amount of USDC to allocate to Yield Farming.

Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!USDC Deposit

Of course, you need to read and approve the terms of service. As a reminder, while cryptocurrencies are experimental, decentralized finance is even more so: there are risks – smart contract bugs or hacks, for example. The user must be aware of them and assume them before any investment.

Once the deposit is confirmed, the funds will now be displayed in the “Investment Account” section of the “Portfolios” menu.

<a href=”https://journalducoin-com.exactdn.com/wp-content/uploads/2021/08/AscendEX-DeFi-Yield-Farming-Curve-Polygon-USDC-Compte-dinvestissement.jpg?strip=all&lossy=1&quality=66&ssl=1″ target=”_blank” rel=”noopener”><img width=”1185″ height=”314″ src=”//www.w3.org/2000/svg’%20viewBox=’0%200%201185%20314’%3E%3C/svg%3E” alt=’AscendEX-Investment-Account” /><img width=”1185″ height=”314″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/08/AscendEX-DeFi-Yield-Farming-Curve-Polygon-USDC-Investment-account..jpg” alt=’AscendEX – Investment Account” />Investment Account

To add funds, simply click on “Deposit”. To remove them, simply click on “Redeem”. As mentioned above, the withdrawal process is not immediate and it will take a day for the funds to become available again.

Reallocation of interest and withdrawal of funds

Interest is paid daily and appears in the “Cash account” section of the “Wallets” menu.

Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!Passive income on AscendEX: generate 3 returns (USDC, MATIC, CRV ) instead of one on your stablecoins!Reallocation of interest

In order to reallocate the interest in the pool, you will have to deposit it manually by clicking on the “Deposit” button of the investment account

.

Finally, in order to withdraw the funds deposited in the Curve (Polygon) – USDC pool as described above, simply use the “Redeem” button on the investment account.

AscendEX: Yield Farming within reach of everyone

Yield Farming is very advantageous, especially during bear market phases, where you end up with a lot of stablecoins “sleeping” on a crypto wallet or exchange platform. Thanks to decentralized finance, anyone can earn a passive income that would make traditional bankers pale in comparison.

The simplicity of using the platform is certainly AscendEX’s strong point. There is no need for complex manipulations and exorbitant fees to get into decentralized finance. All you have to do is select your investment product and allocate the desired funds to it. The beginner in the world of crypto-currencies can thus access DeFi with a few clicks and no headaches. AscendEX offers many products and services, which are easily accessible thanks to their particularly successful user interface.

Thanks to the Journal Du Coin affiliate link

, the first 400 registrants will be entitled to a welcome bonus ($5). 10% trading fee reduction (not limited to the first 400 registrants). From September 1st to September 8th, AscendEX is offering an additional 10% boost on Curve (Polygon) related earnings.

Keep in mind, however, that DeFi protocols, while regularly audited and improved, are still experimental and therefore vulnerable. Diversify your investment products, and don’t invest large amounts in decentralized finance if you do not accept the risk inherent in these new financial technologies.