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What Is the Celsius Network?
The Celsius Network is a financial technology (fintech) platform that offers interest-bearing savings accounts, borrowing, and payments with digital and fiat assets. It operates on an economic model that challenges conventional banking models while prioritizing the Celsius community.
Celsius Network Interest, Lending, and More
The Celsius Network is a blockchain-integrated fintech platform that’s accessible to anyone with a smartphone. With its suite of lending, yield creation , and payments solutions, the Celsius Network provides access to financial services and conditions not available through conventional institutions. At its core, the Celsius mandate is simple: ensure financial services while doing what's best for the community, not intermediaries.
The Celsius Network’s community-first mandate flips the traditional approach taken in financial services, and allows for a radical alternative. Celsius returns 80% of all its earning to users in the form of rewards and attractive interest rates on savings. But how does Celsius afford to do this? The key lies in the over-collateralization of crypto loans and rehypothecation, a process by which crypto funds held as collateral on the Celsius Network are lent to another party — in this case, large investors looking for reliable inroads into cryptocurrency.
Rather than borrow crypto from disjointed sources, investors such as hedge funds can borrow crypto from a proven source: the Celsius Network. Celsius presents an attractive opportunity for large institutional investors looking for a secure onramp to the crypto market by aggregating cryptocurrency into one large pool. The interest Celsius earns from these investors is fed back into the community. 80% of profits are rewarded to Celsius Network users, while 20% is used to fund development on the platform. A closer look at each segment of the Celsius Network highlights a robust ecosystem of incentivized interactions.
Earn Interest: Stake Your Crypto
Celsius's earning network allows users to stake their cryptocurrency for borrowing and earn interest in return. The platform accepts more than 35 tokens, including BTC, LTC, ETH, and stablecoins like USDT, GUSD, and DAI. The Annual Percentage Yield (APR) of each staked cryptocurrency reflects the market demand for that particular coin. As of October 2020, some of these tokens were earning 15% a year, dwarfing yield offers by banks — often less than 1%. If users opt to receive their interest earnings in CEL, the platform's native token, payouts are 30% higher.
In contrast to fiat-denominated banks, Celsius doesn't require a minimum deposit to start earning interest. Also, there's no lockup period or penalty for failing to maintain a minimum or withdrawing your funds. With fewer restrictions and higher yields, the Celsius Network offers a radically different value proposition in the way you manage and hold your assets.