Digital asset exchange Bitfinex announced on Monday it will be launching its peer-to-peer lending tool, Lending Pro, in the first week of August. According to Bitfinex, the new tool will be providing users with an advanced lending tool designed to automate lending in order to enhance the efficiency of capital allocation on the exchange.
Lending Pro is described as a highly-customizable tool that utilizes automated technologies and advanced features to manage lending based on a user’s specifications and market conditions.
“Once customers have to input their preferred settings, Lending Pro will use those settings and market conditions to automatically offer and extend lending in our peer-to-peer marketplace, on the customer’s behalf. Lending Pro potentially allows users to increase their earnings by automating the management of crypto lending in the platform’s peer-to-peer lending portal.”
Lending Pro’s features are the following:
- Calculator page, providing a Standard and Compounded Summary allowing users to make better projections on their potential earnings
- Tickers panel, enabling users to toggle between Lending and Calculated Rates (or the rates calculated by Bitfinex’s margin lending automation tool)
- Lending Form, enhanced to enable users to make bids or offers for all currencies on a single page
- Balances panel, displaying a user’s cumulative holdings as well as providing a detailed breakdown per cryptocurrency
- Today’s Earnings panel, enabling users to track their earnings and value per currency for that specific day
- Distribution panel, enabling users to evaluate lending distributions and identify tokens offering the best rates to fund
While sharing more details about the tool, Paolo Ardoino, CTO at Bitfinex, stated:
“Lending Pro provides our users with a tool to automate peer-to-peer lending, and earn passive income on their crypto. By deploying advanced automated technologies we’ve created a tool that will help our growing user base maximize their earning efficiency on the crypto held on our exchange.”
To obtain access to Lending Pro, Bitfinex users will need to login to their account and navigate to the Lending dropdown menu at the top navigation bar.