Celsius, a central digital currency lending platform, claims to have paid more than $ 250 million in rewards to its 415,000 users, underscoring the rapid growth of blockchain lending protocols .
According to Queen Telegraph, Celsius announced the achievement in a press release released on Monday, highlighting the significant growth the company has achieved over the past two years.
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The company stated: Celsius remains one of the fastest growing companies in finance, with new milestones coming week after week.
Unlike decentralized financing protocols, Celsius offers a centralized alternative that allows users to deposit cryptocurrency assets onto its platform.
The assets deposited are lent to stock exchanges and market makers, with the vast majority of interest payments distributed to depositors.
By November 2020, Celsius was reported to have paid more than $ 80 million in digital currency rewards to depositors. This number appears to have more than tripled, based on Monday's press release.
Celsius users have the ability to win weekly rewards of up to 18.5% of the annual return on more than 40 cryptocurrency assets.
The company now manages more than $ 8 billion in cryptocurrency assets.
Celsius co-founder and CEO Alex Mashinsky said: “Celsius was created to act in the interest of society, and we have consistently provided honest, transparent and rewarding financial services.” / p>
the continued growth of Celsius has helped Mashinski enter the Queen Telegraph's 100 Best Personalities of 2021 list. Not only did Mashinsky help put the Celsius network on the map in 2020, he was also instrumental in securing an additional $ 20 million in crowdfunding from more than 1,000 investors.
the platform's original token, CEL, has significantly outperformed most major digital currencies over the past year.
