Cryptocurrency exchange Bitfinex has launched a new lending platform designed to automate lending in order to enhance the efficiency of capital allocation on the exchange.
The creation of a new lending tool comes after a wave of optimism entering the industry from the decentralised Finance (DeFi) sector.
The new tool, dubbed Lending Pro, utilises automated technology and advanced features to manage lending based on a user’s specifications.
Users will be able to input customised settings that allows the tool to take control in offering and extending lending to Bitfinex’s peer-to-peer marketplace.
We are back! 🦁
— Bitfinex (@bitfinex) July 26, 2020
“Lending Pro provides our users with a tool to automate peer-to-peer lending, and earn passive income on their crypto,” said Paolo Ardoino, CTO at Bitfinex. “By deploying advanced automated technologies we’ve created a tool that will help our growing user base maximise their earning efficiency on the crypto held on our exchange.”
The advanced features in Lending Pro include a calculator page to make better projections, a tickers panel to allow users to toggle between lending and calculated rates and a today’s earning panel that that enables users to track daily revenue.
To obtain access to Lending Pro, Bitfinex users will need to login to their account and navigate to the Lending dropdown menu at the top navigation bar.
The launch of Lending Pro further consolidates Bitfinex’s position as a one-stop-shop for crypto trading, offering a variety of services, including margin trading with up to 5x leverage.
For more news, guides and cryptocurrency analysis, click here.