Hardware wallet maker Ledger and cash provider Alkemi Network have partnered to allow Nano (S, S + and X) holders direct access to DeFi's lending and credit services.
Alkemi Earn becomes the first DeFi lending and lending protocol integrated with Ledger Live
The news could not have come at a better time. In the midst of widespread fear of the difficulties of centralized cryptocurrency lending platforms, or rather of their users, such as those of Celsius, who can no longer access their funds, the announcement of the collaboration between Ledger and Alkemi is very timely.
In fact, for those who may still be tempted to generate returns on their cryptocurrencies by keeping control of their private keys, this is a godsend.
Of course, it was already possible to connect your ledger to decentralized finance apps, such as Uniswap, 1 inch, and Curve, via a connection with the open source WalletConnect wallet. But with the integration of Alchemy the procedure is as user-friendly as possible, being simplified to the extreme.
In fact, To access the new function directly, simply access the Ledger Live software application, which allows you to manage the cryptocurrencies stored in the hardware wallet. In particular, it is necessary go to the “Discover” section of the operator and choose the Alkemi Earn network from the menu. From there, you can start working with ERC-20 tokens (cryptocurrencies based on the Ethereum blockchain) to generate passive income. Not all of them, but only those that offer the most liquidity, that is ETH, DAI, USDC and wBTC. Alkemi Earn users also earn the native governance and utility token of the ALK platform by borrowing and lending on the platform.
We are delighted to integrate the first Yield application into Ledger Live. With Alkemi, Ledger users will have more ways to grow their assets while enjoying all the benefits of cryptocurrencies without centralized custodians.
JF Rochet, Vice President of International Development at Ledger
Not your keys, not your cryptocurrencies!
Alkemi Earn is a lending protocol that allows institutions and individual lenders and borrowers to benefit from both authorized and unauthorized liquidity pools (consisting of a bank-grade verified pool and an unauthorized open pool).
Alkemi claims it has received over $ 50 million in deposits since its launch just over a year ago. Its integration with Ledger, which boasts over 1,5 million owners worldwidea significant increase in terms of growth and liquidity is expected. But in these turbulent times, be careful.
“Not the keys, not the coins”, as the saying goes. With this native integration into Ledger Live, Alkemi Earn opens up a protocol-based cash management experience for the Ledger community. This is the sense of the connection between CeFi and DeFi.
Brian Mahoney, co-founder of the Alkemi network
