Alkemi Earn DeFi protocol partners with largest hardware wallet producer Ledger to unlock new opportunities for noncustodial lending
With this integration, all users of Ledger Live, a companion software application of Ledger wallets, will be able to obtain loans without leaving the app.
Alkemi Earn integrated by Ledger wallet
According to the official announcement shared by flagship CeDeFi application Alkemi Earn, its instruments will be seamlessly integrated with Ledger Live, an application for Ledger hardware wallets.
1/3 We’re pleased to announce the Alkemi Network TGE is complete 🎉
The ALK token address is
0x6c16119b20fa52600230f074b349da3cb861a7e3Always verify the address before transacting:https://t.co/AOzE6EdQX4
— Alkemi Network (@AlkemiNetwork) September 16, 2021
Thanks to ths long-term strategic collaboration, Ledger Live users are now able to farm yield on their dormant assets directly through Alkemi lending/borrowing module.
To put cryptocurrency to work without withdrawing it from Ledger Wallet, users should just go into the Discover section of Ledger Live application and choose Alkemi network from the menu.
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Thus, Alkemi users unlock one of the first-ever opportunities to farm yield straight from their hardware wallets. The service supports all major assets of the DeFi segment, including Ethereum (ETH), Dai (DAI), USD Coin (USDC) and Wrapped Bitcoin (WBTC).
ALK rewards for Alkemi Earn users
Brian Mahoney, co-founder of Alkemi Network, highlighted that this procedure is safer than all competitors’ products and solutions for noncustodial yield farming:
‘Not your keys, not your coins,’ as the saying goes. With this native integration into Ledger Live, Alkemi Earn unlocks a protocol powered cash management experience for Ledger’s community. This is what bridging CeFi to DeFi is all about.
JF Rochet, VP of International Development at Ledger, adds that Alkemi partners allowed its product to integrate the first-ever yield application into his wallet’s software:
Ledger Live is your gateway to digital assets and Web3, and we’re 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.
Additionally, for borrowing and lending on Alkemi Earn, DeFi enthusiasts can receive rewards in ALK, a core native utility asset of the protocol.
