Gym Network announced today that it is poised to release version 2 of its platform, which will bring new functionalities, including Single Pool and BUSD Stable Coin Vault. The updates will offer people active in the DeFi space exclusive rewards, tickets, and the ability to defy bear market conditions, among various benefits.
What is the Single Pool?
When it comes to the Single Pool, there are a few things users need to get familiar with, and locking periods are a high priority. It is only through a locking period that users may earn GYMNET rewards. In addition, people can also take part in the NFT reflection pool in the metaverse. Also, it is essential to note that users have the option to migrate their single pool deposit without locking periods or to migrate the entire amount by choosing a locking period.
Therefore, one cannot split. For example, suppose someone with 1000 tokens in a single pool wants to lock 500 and deposit the other 500 without the locking period. In that case, that will not work as he can either send everything with no locking period or everything with the locking period. Moreover, if at some point one decides to deposit GYMNET tokens with a locking period so that they will earn rewards, it is key to remember that by doing it manually, they will have to pay the four percent burn fee during the transfer process.
By the way, there is no burn fee subtracted from the person’s token amount that’s just moved from the current system over to the new system. Furthermore, the single pool is not only one place more to earn interest in the form of GYMNET tokens. In fact, the Single Pool has the purpose of being the central part of the system going forward as the system is emitting the tokens, and people are earning these tokens by participating in the system.
However, GYMNET tokens, at some point, will cease to be emitted. Meanwhile, the Gym Network community will continue to earn interest rates but not in the form of GYMNET tokens. They will earn commissions and interest rates from other revenue sources, so the single pool is where this will be happening.
Why is BUSD Stablecoin Vault so valuable?
Next, amid all the FUD, GYM NETWORK remains stable and entirely optimistic it has just launched Version 2, which is poised to introduce updates that will take the platform to the next level. In terms of stablecoins, they are a cryptocurrency with low volatility against the world’s most critical national currencies, potentially unlocking huge benefits for a decentralized Internet. Stablecoins provide an opportunity to defy bear market conditions, and that is why Gym Network has decided to introduce the BUSD Vault with the launch of GYM NETWORK V2. This gives people the opportunity to keep their balance in a stablecoin and still earn GYMNET rewards.
Why is BUSD so popular?
Due to its dependability, BUSD had remarkable adoption rates in 2021, a year in which the popularity of cryptocurrencies was greatly increased by the price booms of Bitcoin and altcoins. BUSD is becoming more and more popular as crypto technologies like DeFi and NFTs gain popularity.
It is obvious that these early adopters trust the stablecoin and prefer using it for their DeFi operations as more than one million people already have BUSD. In particular, BUSD serves as a link between conventional finance and decentralized financial infrastructure, introducing a new degree of monetary independence not provided by conventional currencies or organizations. Additionally, stablecoins offer appealing APYs for DeFi services and shield its consumers from risks like inflation.
Get started today!
As the reader knows by now, GYM NETWORK is thrilled to welcome everyone in version 2.0 of its platform.
Users can now connect to their wallet through gymnetwork.io by going to “Launch APP” at the top of the website.
About Gym Network
Gym Network got launched on 25 March 2022. It is a highly innovative DeFi platform that is the first to introduce affiliate marketing to decentralized finance. It allows users to earn commissions by referring others while making a profit from the platform.
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