BlockFi’s new yields for those lending up to 10 BTC (its “Tier 1” customers) will be 5.1 percent. Right now, customers loaning up to 5 BTC see a yield of 6.2 percent. Likewise, their Tier 1 ETH lenders will also see a rate cut to 3.6 percent on loans of up to 500 ETH from 4.2 percent for lending 1,000 ETH.
On the other hand, yields will increase by a modest margin for users holding balances above 5 or more BTC (“Tier 2”) to 3.2 percent from 2.2 percent. (Tier 2) while ETH lenders will see a yield increase to 2 percent, up from 0.5 percent for more than 500 individual ETH (Tier 2).
“Our rates are still way ahead of alternative options and we remain the only retail-focused interest-earning platform that is US-domiciled/regulated, institutionally backed and doesn’t have a utility token,” Prince said.