Umoja launches new product: Supports cbBTC holders to earn 6% annual yield on the Base chain
According to CoinDesk, DeFi protocol Umoja has launched a product that allows cbBTC token holders to earn an annual yield of 6% on the Layer2 network Base. Umoja achieves this yield by leveraging a series of centralized and decentralized exchange strategies, including covered call options and arbitrage. The Umoja protocol supports various Yield Vault Tokens (YVT) collateralized by cryptocurrencies (including real-world asset tokens). One such YVT is yBTC, which users can mint after depositing cbBTC into the protocol.
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