Cryptocurrency lending platform Celsius Network announced that the amount of user deposits on the platform exceeded $ 2.2 billion.
In just six months, the volume of assets under the company’s management doubled. The number of users was 215,000, and the amount of interest paid on user deposits reached $ 80 million since the launch of the platform in July 2018. The company’s own funds, including CEL tokens, reached $ 680 million.
The Celsius Network’s “centralized funding” project has been called an alternative to DeFi platforms. The company allows users to make cryptocurrency deposits on the platform and issue to other users at interest.
“We created the principle of profitable farming and launched the DeFi revolution. We have paid out more profit to our clients than any other centralized or decentralized finance project. And we are not going to slow down, ”said Alex Mashinsky, CEO and founder of Celsius.
In early November, Celsius and Horizen announced a partnership to develop a lending transparency system.