1st yield app directly on Ledger Live – CryptoActu

Decentralized Finance (DeFi)

29 June 2022 – 07:30

Hardware wallet maker Ledger and liquidity provider Alkemi Network have entered into a partnership to allow holders of Nano (S, S+ and X) to directly access DeFi borrowing and lending services.

Alkemi Earn becomes the first DeFi lending and borrowing protocol integrated with Ledger Live

The news couldn’t have come at a better time. In a context of widespread fear where centralized crypto lending platforms are experiencing difficult times, or rather their users, like those of Celsius, who can no longer access their funds, the announcement of the collaboration between Ledger and Alkemi is quite timely.

Indeed, for those who would still be tempted to generate a return on their cryptos while keeping control of their private keys, the windfall is all found.

Admittedly, it was already possible to connect your ledger to decentralized finance apps, such as Uniswap, 1 inch and Curve, via a connection with the open source wallet WalletConnect. But with Alchemy integrationthe procedure could not be more user-friendly, being simplified to the extreme.

In effect, just go to the Ledger Live software application, which allows you to manage your cryptos stored on the hardware wallet, to directly access the new functionality. More precisely, it is necessary go to the “Discover” section of the manager and choose the Alkemi Earn network from the menu. From there, you can start putting your ERC-20 tokens (cryptos based on the Ethereum blockchain) to work, to generate passive income. Well, not all of them, only those that offer the most liquidity, namely ETH, DAI, USDC and wBTC. Alkemi Earn users also earn the native governance and utility token of the ALK platform by borrowing and lending on the platform.

Excited to integrate the first Yield app into Ledger Live. With Alkemi, Ledger users will have more ways to grow their assets while enjoying all the benefits of crypto without centralized custodians.

JF Rochet, Vice President of International Development at Ledger

Not your keys, not your cryptos!

Alkemi Earn is a lending protocol that allows institutions and individual lenders and borrowers to benefit from authorized and permissionless pools of liquidity (composed of a bank-grade verified pool and an open permissionless pool).

Alkemi claims to have received more than $50 million in deposits since launching just over a year ago. Its integration into Ledger, which claims more than 1.5 million holders worldwideshould significantly increase its growth and liquidity. But in these stormy times, be careful.

“Not your keys, not your coins”, as the saying goes. With this native integration into Ledger Live, Alkemi Earn opens up a protocol-based cash management experience for the Ledger community. This is what linking CeFi to DeFi is all about.

Brian Mahoney, co-founder of Alkemi Network

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1st yield app directly on Ledger Live – CryptoActu

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