What does APY mean in mining (abey mining)?
What does APY mean in mining? What does APY mean in mining?In DeFi, APY stands f
What does APY mean in mining? What does APY mean in mining?
In DeFi, APY stands for Annual Percentage Yield. For example, if you buy 100 BTC with ETH, you can receive a reward of 50 ATOM. However, there needs to be a certain proportion of ETH as a return. This mechanism is similar to the interest rate on bank deposits, where borrowers receive a certain amount of interest if they borrow money. When a wallet receives a transaction, it generates a BTC to pay for the ATOM used for borrowing, so it automatically receives BTC. Therefore, ATOM can be considered a good financial instrument that helps users better manage their assets. Of course, there are also projects that allow users to invest these funds in their own investment strategies. So, how exactly does APY work? Let’s take a look at the following chart:
Abey Mining
According to official sources, Abey mining (APR=0.011%) will start at 20:00 Beijing time on August 5th. Users can obtain liquidity certificates (abvey) rewards by staking LP on the abeny.finance official website and receive rewards and transfer them to the profit address: 0xeec9b6fd2ce4da3eb90ed0ba7af00bf88c79a1 after the mining ends.
It is reported that Abey is a decentralized protocol based on POS consensus, aiming to become a secure, scalable, and innovative blockchain platform, providing more fair, just, and transparent decentralized financial services. Its governance token ABVEY is a deflationary native asset with a total issuance of 10 million, of which 10% will be allocated to the community incentive program.
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