Celsius Network is thrilled to be introducing compounding interest — Celsius style! Beginning this fall, users will have an array of new CEL utility options built in your best interest.
Celsius customers will have two options to utilize their CEL tokens: earn 3% per annum interest paid on a weekly basis on your total CEL balance (that means interest on interest, too!) OR earn up to 30% more interest on non-CEL deposits in CEL tokens at rates determined by your loyalty level.
Because US-based customers are unable to earn CEL on other coins, they will be automatically enrolled in weekly compounding interest on CEL.
CEL Community by the Numbers
- Nearly 30% of all Celsians already choose to earn weekly interest in CEL
- Over 93% of CEL token holders have grown or maintained their CEL balance without withdrawing
- We’ve distributed over 5 million CEL tokens to date to our community of depositors earning in CEL
- 10,000+ depositors entrusting Celsius with over $350 million worth of coins
Because fall can’t come fast enough (Happy Pumpkin Spice Latte Day!), we thought we’d give our community a teaser of these new features while they’re being built: interest on CEL ! Starting this week, users are earning 3% p.a. on all CEL deposits as we gear up for launching even greater rewards.
How does Celsius earn interest to pay CEL on CEL?
Celsius still holds the largest number of CEL tokens and will use its treasury to issue dollar loans by converting CEL into USD and earn interest. We will distribute up to 80% of this revenue back to our CEL holders and hope to have the yield grow over time as the loan book increases.
CEL is an in-app token with utility providing membership to Celsius Network’s exclusive suite of financial services for crypto holders. A minimum balance of one CEL token is required to be eligible for increased interest income rates, lower interest rates on crypto-backed loans, premium service and support, and exclusive offers from the Celsius community.
About Celsius Network
Celsius Network is a democratized interest income and lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 4.95% APR.
Download the Celsius Network app and start earning interest on your crypto today celsiusnetwork.app.link