18h00 ▪
4
min reading ▪ by
Luc Jose A.
Your crypto investments haven’t earned you much in recent weeks? How about winning 1000 dollars for free by participating in a competition right away? Well, that’s what the Ledgity protocol offers in collaboration with Cointribune. We talk about it in this article.
In recent weeks, Ledgity has continued to increase initiatives aimed at promoting on-chain finance. After a series of recent collaborations, on September 19, the protocol added an unexpected innovation. This is the Cashback feature which is already delighting its users.
Indeed, with Ledgity Cashback, users of the ledgity.com platform now have the opportunity to recover 10% of the amount of their purchases. They can recover up to 100 euros per month. Payment is made in the form of LDY tokens. And that’s not all.
To promote its Cashback, Ledgity pulled out all the stops. In partnership with Cointribune, Ledgity launched a competition allowing participants to win 1000 dollars, including 500 in BTC. To participate in the competition, three conditions are required. 1-Tag three friends and retweet. 2- validate the KYC on the Ledgity application. 3- validate the Read to Earn quest. Maybe you should give it a try. That said, this cashback and the competition are not the only recent innovations from Ledgity.
LUSDC: Ledgity offers the first ERC-20 token backed by US Treasury bonds
After many bold steps, Ledgity has just taken a giant step forward by launching a project to tokenize US Treasury bonds with the LUSDC token. This is a joint initiative between Ledgity and the Delubac AM bank carried out as part of the Spark Tokenization Grand Prix.
LUSDC is an ERC-20 token backed by a portfolio of short-term US Treasury bonds. Investors interested in the project subscribe by depositing USDC on Ledgity. They receive LUSDC at a 1:1 ratio. Ledgity converts USDC deposited into dollars, using Circle.
The protocol keeps the funds in a separate deposit account created at the Delubac & Cie bank, thus protecting them from the risk of bankruptcy.
Delubac & Cie, the bank depository, invests these funds in US Treasury bonds which are managed by Delubac Asset Management, an asset management company owned by it.
Investors can track and manage their investments and returns on the Ledgity.finance interface. They can also withdraw up to 5% of their funds instantly or more in 2-3 days. The yield generated is distributed in the form of new tokens which therefore increases the investor’s portfolio. Clearly, crypto-native investors will soon be able to access TradeFi institutional asset managers. A great step forward for the crypto industry.
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Luc Jose A.
A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I took the commitment to raise awareness and inform the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to relay the latest technological innovations and to put into perspective the economic and societal issues of this ongoing revolution.
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
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