Singapore, 8 October 2021 – Hodlnaut, a Singapore-based cryptocurrency interest-earning platform, announced that more than $100 million USD in crypto assets had been transacted through its token swap feature. Hodlnaut currently manages over 500 million USD in assets, with a whopping 100 million USD traded on the platform, demonstrating the popularity of its token swap feature. Given that the feature was only released in April of this year, this is a significant accomplishment for the Hodlnaut team. Hodlnaut has reached this new milestone in less than six months.
Hodlers can use the token swap feature to swap between token pairs within the Hodlnaut platform, allowing them to manage their portfolio and rebalance their asset holdings. This saves time for users who want to profit from volatile asset price movements such as BTC and ETH. Because swaps are instantaneous, users can execute trades in real time to secure the asset price.
The token swap feature not only simplifies the user’s experience, but it also helps to reduce the costs associated with transactions between wallets. Hodlers can thus exchange token pairs of their choice from the supported assets directly through Hodlnaut without incurring double fees or the inconvenience of conducting the trade in two steps.
“We are delighted to have received such a positive response to our Token Swap feature, and surpassing the 100 million USD mark in traded volume is a significant achievement,” said Juntao Zhu, CEO and Co-Founder of Hodlnaut. “We’re always looking for new ways to improve our users’ hodling experience, and the team is grateful for the support that token swap has received over the months,” he added.
Hodlnaut pays up to 12.73 percent APY on six crypto assets: BTC, ETH, DAI, USDC, USDT, and WBTC. The token swap feature can also be used to wrap and unwrap BTC without the need for time-consuming steps. It also saves users the trouble of deciding which merchant to use to wrap their BTC, as there are numerous fake WBTC in the new wrapped bitcoin market.
The token swap feature of Hodlnaut is available on both the web application and the iOS app. The feature will be available soon on Hodlnaut’s Android app, which will be released before the end of 2021.
Hodlnaut is a Singapore-based platform that offers innovative financial services to individual investors by lending their cryptocurrencies to vetted institutions. Hodlnaut, which was founded in April 2019 by Bitcoin maximalists Juntao Zhu and Simon Lee, has grown tremendously over the years.
The Singapore Fintech Association has certified Hodlnaut as a Fintech, an accreditation recognized by the MAS (Monetary Authority of Singapore). The company’s goal is to become the first regulated entity in Singapore in the crypto lending and borrowing space, and it is currently applying for a license under the Payment Services Act 2019. (by the MAS).