LONDON--(BUSINESS WIRE)--Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today that its members will be able to earn weekly compounded interest on CEL tokens at a rate of 3% per annum.
US-based customers will be automatically enrolled in weekly compounding interest on CEL tokens while Celsius users located outside the US have the option to earn interest on CEL tokens or continue to take advantage of Celsius’s current international offering - earning up to 30% more interest income on non-CEL deposits paid out weekly in CEL tokens.
Interest on CEL tokens is funded by Celsius’s token treasury. Celsius issues dollar loans by converting CEL into USD and generates revenue through loan interest payments. As with all other coins supported on the platform, Celsius distributes up to 80% of this income back to its community of CEL depositors.
“Our community comes first,” said Alex Mashinksy, CEO and founder of Celsius Network, “We want to make sure that everyone using Celsius is getting the full suite of benefits possible, but we also have to make sure that we are doing it in the right way. Our recent pause and reintroduction of the CEL token to US users shows our dedication to the community, and making sure they have a seamless experience...and hopefully a profitable one!”
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 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
About Celsius Network
Celsius Network addresses the financial needs of today’s consumers worldwide through a high interest income and low cost lending accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network