Bangkok, Thailand, November 14th, 2024, Chainwire
Today, Neptune Finance (Neptune), a credit network lending protocol, announces the first month results of the rates competition study for the period of 8 October to 8 November. Neptune comes up in first position with a performance of 2.5x for USDT and 1.8x for USDC compared to the second placed platforms, successfully proving their interest rate mechanism is the best in the industry.
These results demonstrate that Neptune provides the highest efficiency at 20% APY for users.
Last month, 100 USDC and 100 USDT each were deposited into 10 platforms including Neptune, and other competitors. The competition study is aimed to determine the performance and user value of the top 10 DeFi lending platforms and can be tracked in real-time on Pulsar: https://app.pulsar.finance/portfolio
Users can view the full results here.
Chad Cutshall, CEO of Neptune Foundation, said: “We have been committed to providing the highest value to our users through our innovative features. It is a real testament to the team’s hard work that the results have shown Neptune having the most competitive rates in the industry. Coming up on top against other bigger platforms shows that we are well on track with our vision to be the premier and highest efficiency lending protocol for users and DeFi service providers.”
Neptune already often has a narrower spread between lend and borrow rates and this competition study will provide tangible insight into rates comparison across lending platforms.
With the use of the innovative Neptune PID controller, the interest rate curve is dynamically adjusted based on its proximity to the target, achieving consistent utilization, even throughout rapid market volatility. This addresses the limitations of a market static curve used by typical DeFi money markets, which does not consistently achieve a stable market utilization.
The Neptune team is continuing the work on enhancing user benefits. The updated Neptune roadmap was recently released, focused on generating
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Author: Crypto Daily™
