Alkemi Network partners with Nexus Markets to provide DeFi yields to exchange users. With the integration, CeFi users will easily access DeFi liquidity in a trusted-counterparty environment.
The recently-launched project focuses on bridging CeFi Users, Alkemi Network, has partnered with crypto exchange and lending vault platform Nexus Markets to provide DeFi yields to Nexus users. The collaboration between the Network and crypto exchange and lending vault platform was revealed on the 5th of August.
Nexus Markets and Alkemi Network partners
Nexus Markets is positioned to benefit from its integration with Alkemi Network. The exchange will offer De-Fi level yields to its users by utilizing the network institutional-grade liquidity platform. As such, users will earn potential and also enjoy accessibility. In addition, users of Nexus Markets earn a passive income by putting their Wrapped Bitcoin, Ethereum, and several stablecoins into Alkemi Network-integrated decentralized finance vaults.
Already, many users are aware of the attractive yields in DeFi. Now, the integration between Nexus Markets and Alkemi Network will enable them to enjoy the yields. However, users need to get familiar with some technical terms and procedures before having access to the DeFi yields. Some of the procedures required for users to know about are proper custody, the gas fees, Web3 wallets, and approvals. On the other hand, utilizing a Web2 interface while creating a bridge to the same yields simplifies the entire process. As a result, it attracts more potential users.
Furthermore, CeFi users will have easy access to DeFi liquidity due to the partnership between Alkemi Network and Nexus Markets. At the same time, Nexus customers will be able to earn DeFi rates and participate in an institution-grade liquidity mining program through the Network.
Executives comments on the new partnership
Commenting on the partnership, the CSO and co-founder of Alkemi Network, Brain Mahoney, said:
DeFi liquidity, CeFi experience. This is the product-market fit driving the next wave of digital asset growth. Through NEXUS, Alkemi Network unlocks DeFi yield opportunities for downstream users while building additional onramps to our on-chain ecosystem. We see this collaboration as a potent recipe for continued DeFi adoption.
Alkemi Network’s flagship protocol, Alkemi Earn (Earn) helps borrowing and lending through only supported digital assets which include, ETH, WBTC, and stablecoins.
Nexus Markets was created within FX exchange software provider Shift Markets. Since its establishment in 2018, before hitting the mainnet last year, the team has expanded to become a world-class crypto exchange. Also, the project has secured $4.6 million in an investment round.
The CEO and co-founder of Nexus Markets and Shift Markets said in a statement:
Clients might be on an exchange, unsure about using Web3 browser wallets. We facilitate DeFi through a familiar interface, so customers can access this new technology and the yields natively. Nexus is proud to be leading the way for institutional and retailers to safely and securely access DeFi.