VegaX Release: VegaX USDC Yield Product (VUSDC)
We are pleased to announce that we have released another investment product, the VegaX USDC Yield Product (VUSDC).
What is the VegaX USDC Yield Product (VUSDC)?
VUSDC stands for VegaX U.S. Dollar Coin. VUSDC enables clients to earn up to 10% Annual Percentage Yield (APY) on their dollars. Thanks to VUSDC, you can now convert funds (BTC/ETH) or strategy tokens (such as VEBE, VEEE, or VDEFI) into the USDC Stablecoin.
What is a Stablecoin?
If you are not familiar with the term ‘stablecoin’, it refers to a cryptocurrency that is pegged to a fiat currency (in this case, the U.S. dollar). This means that 1 USDC = 1 U.S. dollar. Stablecoins can help you minimize your risk during a market correction as their value has minimal fluctuation. Because they are pegged to a fiat currency, stablecoins always reflect the value of that fiat currency, unlike other cryptocurrencies that can be extremely volatile.
These USDC will be staked directly through the VegaX USDC Yield Product which includes up to 10% APY.
What does that mean exactly?
It means that you can earn up to a 10% return on a stable coin product that won’t be affected by the variations in the crypto market.
We have created this yield product so VegaX clients can benefit from a product that won’t be impacted by the rise and fall of the crypto market but will still provide a valuable APY that doesn’t exist for Traditional Finance assets and products.
The APY that you can earn through traditional financial institutions is usually much less than 10%, meaning that by investing in VUSDC, you can earn better returns than you would be able to earn through a bank, but without the worry and stress that comes with investing in volatile assets. It’s a winning situation for VegaX clients with minimal risk!
How do we get this yield?
The percentage of increase is obtained by staking USDC to the most efficient CeFi Yield products that we tracked on the market.
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