NEW YORK, Oct. 31, 2019 /PRNewswire/ -- Celsius Network announced today it is listing EOS, the native proof-of-stake cryptocurrency to the EOS blockchain, in its interest-earning wallet. Now, EOS holders can stake coins and passively earn high yield with Celsius.
For many network participants, staking requires a level of time and knowledge that makes it difficult to participate. By offering simple deposits and staking with a blended yield, Celsius Network offers the EOS community a passive way to earn on their assets.
With Celsius Network, EOS holders will also be able to borrow cash or stablecoins against their EOS at rates as low as 3.45% and use EOS as collateral.
"We are excited to see the EOSIO ecosystem growing with Celsius's support for EOS," says Block.One CEO Brendan Blumer. "Block.one believes that retail deposit solutions are an important growth nexus for mainstream adoption of digital assets as transparent and competitive stores of value."
Celsius Network has more than $350 million in assets, it uses BitGo for custody for its 50,000 active wallets, the mobile app allows users to earn up to 10% interest or take loans on crypto held in their wallet. This new form of banking on the blockchain allows customers to easily deposit, borrow and earn interest with a variety of cryptocurrencies including EOS token. Interest is paid in-kind or in CEL token.
"We're doing our part to help decentralization scale by adding hundreds of millions of new users to the digital asset community, by offering innovative, customer-centric financial services, including borrowing and lending," said Alex Mashinsky, Celsius Network CEO. "When it comes to proof-of-stake, many cryptocurrency holders might not have the time or expertise required to stake, which would leave them missing out on potential rewards. We're changing that with a secure and user friendly solution."
EOS.IO is a blockchain protocol powered by the native cryptocurrency EOS. The protocol emulates most of the attributes of a real computer including hardware (CPU(s) & GPU(s) for processing, local/RAM memory, hard-disk storage) with the computing resources distributed equally among EOS cryptocurrency holders. EOSIO operates as a smart contract platform and decentralized operating system intended for the deployment of industrial-scale decentralized applications through a decentralized autonomous corporation model. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second.
Celsius Network addresses the financial needs of today's consumers worldwide through a high interest income and low cost loans accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a Blockchain based marketplace platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network
Contact: John Hyatt, [email protected]
SOURCE Celsius Network