- FInblox is offering its users up to 90 percent in annual interest if they deposit their AXS tokens with the platform.
- AXS is getting nine times higher interest than the next best-earning cryptocurrency, which is USD Coin at 10 percent APY.
For most cryptocurrency enthusiasts, the money comes from buying low and selling high. However, in the past few years, plenty of other avenues have opened up, from DeFi to NFTs. And now, owners of Axie Infinity tokens can earn up to 90 percent in annual interest for just depositing their tokens with one Hong Kong-based digital asset investment platform.
Finblox is an investment platform that pays out annual yield on six digital currencies to over 15,000 users without requiring any lock-ups. The lowest yield is on Ethereum and Bitcoin for which it pays out 3 percent. On Avalanche and Solana, it pays out 8 percent and on USD Coin, it pays out 10 percent APY.
When it comes to the Axie Infinity tokens, Finblox breaks the bank and pays out a staggering 90 percent APY. It generates this yield through such activities as lending out the asset to financial institutions for use in leverage or even to other trusted partners in the DeFi space.
Axie Infinity has become one of the biggest players in the fast-rising blockchain gaming world. With a market cap exceeding $4.6 billion, it’s the third-largest gaming-related cryptocurrency, ranking only behind Decentraland’s MANA and The Sandbox (SAND).
In the past year, AXS has shot up from just $0.5 to trade today at over $76, a 15,000 percent surge. At the height of the crypto boom in November last year, it set a new record price at $165.
Peter Hoang, the co-founder of Finblox commented:
Axie Infinity has brought crypto gaming to the mainstream and created a new way for anyone to turn their time into money through the play-to-earn mechanic.
Peter founded Finblox after leaving his role as the founder and CEO of Gotrade, a zero-commission stock trading app that gained quite some success in Southeast Asia. He joined forces with Dmitriy Paunin, the former CTO of Coins.ph, a Filipino crypto exchange that, with 16 million clients is the largest in the region.
Finblox has been a great success since it launched. In December last year, it raised seven-digit funding from renowned investors including Sequoia Capital and MSA Capital.
Commenting at the time, Peter stated:
Our vision is to help the next 1 billion people build their wealth with crypto. What we’re able to offer is stability with more consistent rates and no lock-in periods associated with other DeFi platforms. Our core focus is to build an accessible and modern product that will help our users accumulate wealth over the long term and build the financial blocks for their future.