In the fast-paced world of decentralized finance (DeFi), accessibility and user-friendliness are key to bringing DeFi to the masses. VVS Finance, the largest DeFi platform on Crypto.com blockchain, revealed exclusive partnership with Crypto.com. Together, they’ve launched USDC Yield with Daily Payouts, an innovative feature that makes it easy to earn and spend DeFi yields. This collaboration marks a significant step toward bridging the gap between the complex world of DeFi and everyday financial transactions. Bernadette M. Santos dives into how this collaboration makes DeFi yield spending easier, with an emphasis on the collaboration’s groundbreaking ‘Auto Harvest’ feature.

Latest Developments from Crypto.com

In the world of cryptocurrency, crypto.com is creating quite a stir. In their tireless pursuit of making life easier and to drive more people toward using digital assets, they regularly add innovative new features and services. These regular, new-for-you changes exemplify Crypto.com’s dedication to simplifying and streamlining all things crypto for our users around the world. Through the ongoing creation of novel solutions, Crypto.com is further establishing its place at the forefront of the cryptocurrency revolution.

Overview of Crypto.com's Services

Crypto.com offers a wide range of services. It’s user-friendly interface caters to all users from curious beginners to experienced crypto investors. These services include an integrated cryptocurrency exchange and wallet for easily storing and managing digital assets. You’re exposed to a whole suite of products like staking and lending. The platform’s educational resources aim to help users understand the complexities of the constantly-evolving cryptocurrency market.

One of the most prominent features that sets Crypto.com apart from the competition is its security and compliance. The platform uses military-grade security features to safeguard user funds and is regulated under the highest possible standards in multiple jurisdictions. Crypto.com ecosystem is strongly committed to security and compliance. This commitment has fostered a high level of trust with end-users and set the platform apart as a trustworthy and credible industry player.

Introduction of the Crypto.com Prepaid Card

The Crypto.com prepaid card is an essential part of the platform’s ecosystem. It gives users unprecedented ability to spend their cryptocurrency portfolio in the real world easily. The card comes in several tiers, with each tier unlocking unique rewards and benefits. Users will be able to load their cards with cryptocurrency and use them to make purchases anywhere that accepts Visa.

Once they have their crypto, the Crypto.com prepaid card helps users conveniently spend it. Plus, it provides a simple way to cover day-to-day costs with cryptocurrencies. Through cashback rewards and additional benefits, the card encourages people to adopt cryptocurrency as a core part of the new digital economy. This visionary strategy has helped boost soaring demand for cryptocurrency as an accepted, mainstream form of payment.

VVS Finance's New Feature: Auto Harvest

VVS Finance recently released a new Auto Harvest feature that’s made to make DeFi yield spending easy crypto.com Prepaid Cardholders. This new feature is enough to allow users to shop automatically redeem rewards from DeFi Farms. They can then use those rewards to top up their Crypto.com prepaid card for daily purchases. This automated process makes decentralized finance more accessible to mainstream users by reducing the complexity and friction associated with managing DeFi rewards.

What is Auto Harvest?

VVS Finance’s Auto Harvest feature is now live on all farms that have VVS tokens as dispensers. You’ll know these farms as the “Auto Harvest” farms and you’ll find them quickly on the VVS Finance platform. The Auto Harvest feature automatically claims rewards for you and converts to the token of your choice without the hassle. It’s this innovation that brings decentralized finance within reach of everybody. Through Auto Harvest, users will receive two-thirds of the platform’s swap fees directly deposited to them. Currently, these fees are capped at a mere 0.2% of the transaction’s value.

The AMO rewards are auto harvested every day as soon as they pass the $6 threshold. Automated daily harvesting ensures users are never at risk of missing their rewards. Users are no longer required to remember to initiate the process manually every day. Users can manually claim from a farm with Auto Harvest turned on at any time. Best of all, there’s no processing fee either! This degree of flexibility gives users the power to customize their rewards to best suit their individual needs and preferences.

The functionality is now live on all farms emitting VVS tokens marked as Auto Harvest on the VVS Finance platform. By making this new Auto Harvest feature widely available, a wide range of users is empowered—which includes the average player. As a result, they can now easily streamline their DeFi yield expenditures. The Auto Harvest launch represents a significant step forward in bringing the power of DeFi to the mainstream. Now users can easily redeem their rewards and direct them instantly towards their daily spending.

Benefits for Crypto.com Prepaid Cardholders

VVS Finance’s Auto Harvest feature, paired with Crypto.com’s prepaid card, gives a myriad of advantages to the cardholders. Users will be able to harvest their rewards automatically. They can then use these rewards to reload their Crypto.com prepaid card, allowing them to seamlessly spend cryptocurrency in the real world. This smooth integration makes it even easier to use DeFi yields to pay for your daily purchases.

When users purchase and stake the equivalent of $400 in Cro, Cronos blockchain’s native token, they gain access to thrilling cashback rewards. They too can be receiving up to 5% back on their purchases! This new incentive makes using the Crypto.com prepaid card even more beneficial. The Auto Harvest feature integrates beautifully with the Crypto.com Prepaid Card. This new integration provides users with a seamless way to use any rewards they earn in the real world.

  1. Connect: Users link their VVS Finance account to their Crypto.com account.
  2. Automate: They enable the Auto Harvest feature for eligible farms.
  3. Harvest: Once the minimum threshold of $6 is reached, rewards are automatically harvested daily.
  4. Convert: The harvested rewards are converted to USDC.
  5. Spend: The USDC is then transferred to the user's Crypto.com prepaid card for spending.

DeFi is disrupting traditional finance by providing open and permissionless solutions that replace or improve upon traditional financial services. By leveraging blockchain technology, DeFi platforms are creating new opportunities for individuals and businesses to access financial products and services without intermediaries.

The Impact of DeFi on Traditional Finance

Decentralized Finance (DeFi) encompasses the growing ecosystem of financial applications constructed on top of blockchain technology, most notably Ethereum. These new applications primarily seek to recreate and innovate upon familiar financial services while cutting out intermediaries like banks and brokers. DeFi platforms take advantage of smart contracts, self-executing agreements coded into software, to automate transactions, save costs, and provide transaction transparency.

Understanding Decentralized Finance (DeFi)

DeFi offers several advantages over traditional finance. It has the amazing advantage of being more accessible to everybody, because anyone who has an internet connection can join. It provides for greater transparency, since all transactions occur on a public blockchain ledger. DeFi tends to provide greater yields and reduced fees than traditional financial institutions.

Digital dollar DeFi is revolutionizing our financial transactions by providing new, decentralized tools for lending, borrowing, trading, and investing. Race and discrimination in DeFi lending Defi lending platforms open up the possibility of users borrowing and lending cryptocurrency with no traditional credit check or assessment. DeFi exchanges allow users to trade cryptocurrency directly with one another, without the use of an intermediary.

How DeFi is Changing Financial Transactions

The growth of DeFi has been remarkable. Over the last few years, the total value locked (TVL) in DeFi protocols has exploded. This increase is a reflection of a rapid adoption of and confidence in the technology. DeFi is changing by the minute and its potential to upend traditional finance is huge. It also opens up the opportunity to create a more inclusive and efficient financial system.

VVS Finance and Crypto.com have partnered to introduce the revolutionary Auto Harvest feature. This collaboration represents an exciting step forward in bringing DeFi to the masses. By automating the process of harvesting rewards and integrating it with the Crypto.com prepaid card, this collaboration simplifies the user experience and promotes the adoption of decentralized finance.

Conclusion

Best of all, their auto-harvest feature simplifies spending DeFi yield. It’s great for automatically collecting rewards from DeFi Farms and pre-funding your Crypto.com prepaid cards. Auto Harvest rewards are automatically harvested every day once they reach a minimum threshold of $6. Combined with the Crypto.com Prepaid Card, this makes spending rewards super easy. Consumers are able to effortlessly redeem their rewards in the real world! Users still have the ability to manually claim from an Auto Harvest farm with no processing fee at any time.

Summary of Key Points

The future of DeFi is bright, with more innovative projects and further adoption occurring over the next several years. More people are realizing the value of DeFi. As this developer trend progresses, the need for more efficient, user-friendly solutions such as the Auto Harvest feature will only increase. This move and collaboration between VVS Finance and Crypto.com demonstrates the incredible power that can come from strong partnerships. These partnerships between DeFi apps and legacy finance players are catalytic for the mainstreaming of crypto. Together, these efforts and proposals will continue to change the financial landscape for good, making it more inclusive, efficient, and accessible for all Americans.

Future Outlook for DeFi and Crypto.com

The future of DeFi looks promising, with continued innovation and increasing adoption expected in the coming years. As more users discover the benefits of decentralized finance, the demand for user-friendly solutions like the Auto Harvest feature will continue to grow. The collaboration between VVS Finance and Crypto.com exemplifies the potential for partnerships between DeFi platforms and traditional financial institutions to drive mainstream adoption of cryptocurrency. These ongoing developments will reshape the financial landscape, making it more inclusive, efficient, and accessible for everyone.