Amber App is a retail application that delivers cryptocurrency services to a mass audience. Developed by Amber Group, it boasts numerous "yield farming" functions.
New APRs for better yield strategies
According to the official press release by the Amber Group, its retail product, Amber App, has updated the conditions of its yield strategies for the most popular assets. Starting from today, depositors of Bitcoin (BTC), Ethereum (ETH) and USD-pegged stablecoins can enjoy up to 16 percent annual percentage rates.
In addition, current Amber App users are now eligible to win an additional 10 USDS for each qualified referral, an 11% bonus from the referral's Earn interest (excluding Flexible Earn), and Yield Boost subscription, and up to 34% on trading commissions.
Besides increasing APR on top assets, the Amber Group launches a USDS promotion. Starting from June 10, qualified new users are eligible to receive 18 USDS, while an additional 10 USDS bonus are granted to each qualified referral and new "Yield Boost" subscription.
Also, loyal users of the Amber App will enjoy an 11 percent bonus from the referral's Earn interest. Flexible Earn users are excluded from this promotion. Then, 34 percent of the referral's trading commissions will be transferred to referral program enthusiasts.
Michael Wu, the CEO of Amber Group, stresses that this release is designed to meet the increased demand in yield applications for digital assets:
Since the inception of Amber Group, our goal has always been to provide our users with an unmatched crypto finance experience.We now serve users of all levels and hope the new user and referral incentives encourage new crypto adopters to explore the suite of crypto offerings we have built. We look forward to adding even more features and supporting new tokens soon.
Thus, the new referral program is far more profitable than its previous version in terms of periodic rewards and one-time stablecoin-denominated bonuses.
Binance Coin (BNB), Polkadot (DOT) are added to Amber App
The Amber App team also indicates increased interest in large-cap altcoins. To meet the needs of its retail clients, Binance Coin (BNB) and Polkadot (DOT) are introduced as new assets for yield programs.
Both DOT and BNB are available in the Flexible Earn module. Inaugural APR for the two assets is set at five percent. The Amber Group also teases the implementation of many new DeFi coins in the coming months.
Amber Group is a global digital currencies services provider with two main instruments, Amber App and Amber Pro. In 2019, it managed to raise $28 million in Series A in funding co-led by iconic venture capitalists Paradigm and Pantera Capital.
In the past few months, Amber App's number of active users has grown above 100,000. The application's interface supports Japanese, Turkish and Russian, along with English, Simplified Chinese, Traditional Chinese, Korean, Spanish and Portuguese.
To ensure a seamless crypto experience, the Amber Group implemented authorization with Google and Facebook accounts for all of its products.