Celsius Network, a well -known crypto currency provider, is struggling with a serious financial crisis due to the current meltdown of the crypto market. It gives the customer stocks and in return receives some interest. It manages over $ 11.8 billion in crypto assets and gives its customers a percentage equal to 18.63% of crypto assets.
Celsius financial crisis reached the limelight after crypto offers indefinitely froze withdrawals, swaps, and local transfers soon after the Terra LUNA debacle put the crypto market in a free fall. Shortly after retiring, Celsius hired reorganization lawyers in his attempt to continue.
Continuing events with the immediate opening and fears of insolvency gained power, MakerDAO has decided to discontinue DAI’s Direct Deposit Module (D3M) for DeFi lending platform Aave. The move is intended to reduce the Celsius exposure to the DAI, which is borrowed through the Aave threshold. Celsius owes 100 million DAI shares to Aave.
On July 6, Celsius paid Maker $ 183 million in DAI bonds in an attempt to pay off its debt. It has paid 59 million DAI shares which is currently with a loan of 41 million DAI shares. The move frees up some of the bitcoin exchanged that was used as credit for the debt.
But in a search of events, investor Celsius, on Friday (July 7) was accused by his former treasurer of using consumer stocks to fix the price of his stock. real symptom, CEL, although it does not completely prevent complications. ; something that led to the happiness of the customers ’assets.
Because of the current problems with Celsius Network, it may be necessary to find another site that offers similar and better services. Coinjournal has compared five Celsius Network options for you. The list compares the features, prices, reviews, and products offered.
The rest is in the Celsius System
Nexo is the first crypto -currency platform to offer instant secured loans. In addition to allowing customers to borrow, the crypto lender allows crypto lenders to use their digital assets and provide them with credit for a crypto lending line.
It allows users to instantly buy cryptocurrencies using cards at 0% discount and a 0.5% cashback plan that users can earn when they make a purchase. It allows users to exchange crypto currencies and also earns an APY of 16% for transferring their crypto assets.
Importantly, Nexo has always been firm regardless of market conditions and has immediately entered into talks with Citigroup for opportunities to offer crypto currency.
CakeDefi is a Singapore -based staking, liquidator, and lending protocol that allows users to deposit their crypto assets and earn a percentage.
Despite its ‘DeFi’ tag, Cake DeFi is more of a central platform because it is a managed site that offers a suite of DeFi products.
CakeDeFi offers three primary DeFi products namely lending, staking, and Liquidity Mining. Users can earn an average of 6.5% for donating their crypto assets or 80% for participating in Liquidity Mining.
3. Company Value
Compound Finance is a mechanical money market protocol in San Francisco, California that allows users to deposit cryptocurrencies and earn interest of up to 16% APY or borrow other cryptocurrencies against the property which they left. It was founded in 2018 and was one of the first crypto platforms built.
Corporate users can buy, sell or exchange cryptocurrencies.
Compound started as a central agency but grew out of its image after the release of its original national brand, COMP, which began with the transformation of Compound into an independent community education organization (DAO). ).
Aave is a crypto credit and lending platform. It started in 2017.
Aave is a non-custodial DeFi protocol, and it offers three main products namely Credit, Credit, and Liquidity Mining (for lenders to supply water to credit pools).
Aave owns one of the largest credit pools in the blockchain industry and has become a common name for cryptocurrencies.
In addition to offering over-collateralized crypto loans, Aave users can also receive uncollateralized loans called Flash Loans.
Crrypto.com offers a variety of crypto services including a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, and crypto credit among other services .
In addition to a wide range of services, Crypto.com also offers some of the lowest trading fees and best gift programs in the crypto industry.
Along with other options on Celsius, you have a selection of popular networks that offer the same or better crypto services such as the Celsius Network, which is currently in trouble.
The list above, however, is part of the crypto protocols out there that offer the same services that Celsius offers.