Celsius, a key cryptocurrency lending platform, claims to have paid more than $ 250 million in bonus payments to its 415,000 users, highlighting the rapid growth of blockchain lending protocols.
Celsius announced the performance on Monday in a press release highlighting the company’s significant growth over the past two years. “Celsius is still one of the fastest growing companies in finance, reaching new milestones every week,” the company said.
Unlike decentralized financing protocols, Celsius offers a centralized alternative that allows users to place cryptocurrencies on their platform. Deposited assets are available to stock exchanges and market makers, with the vast majority of interest payments distributed to depositors.
In November 2020, it was reported that Celsius had paid more than $ 80 million in cryptocurrency rewards to depositors. According to a press release issued on Monday, this number has more than tripled.
Percentage users have the chance to receive weekly rewards of up to 18.5% annual return on more than 40 cryptocurrencies. The company currently manages more than $ 8 billion in cryptocurrency assets.
Alex Mashinsky, co-founder and CEO of Celsius, said:
“Celsius was created to act in the best interests of society, and we are committed to providing honest, transparent and profitable financial services at all times.”
The continued growth of Celsius helped Mashinsky reach the Top 100 Cointelegraph companies in 2021. Mashinsky not only helped bring the Celsius Network to the map in 2020, but helped attract another $ 20 million from over 1,000 investors. The platform’s token, CEL, bypassed most of the major cryptocurrencies last year.