DeFi is making waves, and this is a brand new integration. Now, Alkemi Earn integrates into Ledger Live’s Discover section. It’s the first time a DeFi lending and borrowing app is available to Ledger users.
Ledger is one of the most popular hardware wallets on the market. They already sold well over 5 million copies. On the other hand, Alkemi is a liquidity network with an institution-grade that makes DeFi have easier access to financial institutions and users. So, let’s have a look at what this partnership means.
Alkemi Earn Partners With Ledger
Alkemi Network is a DeFi lending protocol that bridges CeFi to DeFi. Therefore, everybody can earn an attractive yield on their Ethereum-based digital assets. Moreover, Alkemi Earn is their main protocol. Here you can borrow and lend ETH, wBTC, and stablecoins. When borrowing or lending, you get rewarded in ALK tokens.
If you want to dive more into DeFi this year, you’ll be happy to learn that we’re integrating @AlkemiNetwork into Ledger Live.
Alkemi is a liquidity network allowing individuals to earn yields on their Ethereum-based digital assets!
— Ledger (@Ledger) June 28, 2022
In addition, Alkemi Earn offers:
- A Bank-Grade Verified pool
- A permissionless Open pool
So far, Alkemi Earn received over $50 million in gross deposits after it launched. The Ledger Live integration will most certainly boost this number.
Benefits of Having Access to Alkemi Network via Ledger
When you have a Ledger, you also have access to Ledger Live. This is a safe and easy-to-use interface. Here are the most important features:
- Communicate with hardware wallets securely: The Live suite is available as a mobile and a desktop version.
- No need for an internet connection: It is a risk-free option. It allows you to buy and sell crypto and use DeFi apps safely. As a result, you don’t have to trust your private keys to Celsius or BlockFi to access DeFi yields. Your keys, your coins.
- Earn yield on lending and borrowing in Ledger: This brings DeFi options to over 1.5 million Ledger Live users. In this case, you can sync your ledger with Alkemi Network. You only need to:
- Go to the Discover section
- Select Alkemi
That’s it, your assets start working for you and earn yield. Straight from the safety of your hardware wallet.
Alkemi Network brings DeFi options to Ledger with Alkemi Earn. Borrow or lend ETH, wBTC, or stablecoins and earn ALK tokens. All 1.5 million of the Live suite users can now stay in control over their assets and have very attractive yields in Alkemi Network at the same time. In other words, receive DeFi yields while maintaining the self-custody security of a hardware wallet.
At the time of writing this article, the price of the Alkemi Network DAO token (ALK) price is $0.0244. Also, it has a total value locked of more than $625,000 and a fully diluted valuation of $4.8 million.
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