We have joined the Kava Rise program to give our users an opportunity to earn income on their GBYTE and other crypto holdings.
Two our dapps are enrolled into Kava Rise:
Counterstake and the new
LINE token. The Kava Rise program rewards for the TVL these dapps create on the Kava network, and we will distribute 90% of the rewards (after converting them to GBYTE) among users who actually create the TVL. The APY is around 7%, and LINE token earns double of that by contributing to the TVL twice.
LINE is a price-protected token that one can borrow on Kava for GBYTE collateral. Price protection means that if its price falls, one can repay the loan and get one's collateral back (less fees).
To take advantage of the program:
- bridge GBYTE from Obyte to Kava via Counterstake
- use GBYTE to borrow LINE at linetoken.org
- bridge the borrowed LINE tokens back to Obyte
- just keep them in your Obyte wallet and the rewards will be sent to your wallet address monthly
Track the rewards at
https://kava.obyte.org/LINE token:
https://linetoken.org/Full announcement:
https://blog.obyte.org/kava-rise-to-benefit-obyte-users-through-the-new-price-protected-line-token-20e0dd390780
