How to Earn DeFi Yield On rhino.fi
When you use the Invest section on rhino.fi, you are purchasing liquidity provider tokens which represent lending positions in various DeFi protocols.
For example, when you supply USDT to the cUSDT product in the Invest section on app.rhino.fi, you are effectively lending your USDT to the Compound Finance protocol on Ethereum. In return for lending your USDT, you receive cUSDT tokens in your rhino.fi account.
The way this works in practice is that rhino.fi Labs, operator of the rhino.fi platform, holds a float of cUSDT tokens that you can purchase without paying gas on the rhino.fi platform (layer 2). RhinoFi Labs periodically replenishes its holdings on cUSDT and other liquidity provider tokens (by buying on layer 1) to ensure that you can always purchase and redeem your tokens.
Some tokens in the rhino.fi invest section are not Ethereum- native tokens, and instead may be tokens from a different blockchain entirely. It is important that you do your own research before purchasing such tokens to make sure you are comfortable with the risks.
For example, when you supply USDT to the cUSDT product in the Invest section on app.rhino.fi, you are effectively lending your USDT to the Compound Finance protocol on Ethereum. In return for lending your USDT, you receive cUSDT tokens in your rhino.fi account.
The way this works in practice is that rhino.fi Labs, operator of the rhino.fi platform, holds a float of cUSDT tokens that you can purchase without paying gas on the rhino.fi platform (layer 2). RhinoFi Labs periodically replenishes its holdings on cUSDT and other liquidity provider tokens (by buying on layer 1) to ensure that you can always purchase and redeem your tokens.
Some tokens in the rhino.fi invest section are not Ethereum- native tokens, and instead may be tokens from a different blockchain entirely. It is important that you do your own research before purchasing such tokens to make sure you are comfortable with the risks.
Updated on: 14/07/2022
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