Magnetic X Powers XRP Ledger DeFi with High-Yield Farming as TVL Rises to $5.3 Million.
Magnetic X uses XRP Ledger to increase yield farming rewards to its users.
The total value locked (TVL) in Automated Market Maker (AMM) pools on XRP Ledger has already exceeded $5.3 million.
High Annual Percentage Rates (APRs) are driving interest in yield farming activities on the XRP Ledger.
Magnetic X's DeFi Platform on XRP Ledger
Magnetic X, one of the leading protocols on the XRP Ledger, has made significant strides in the field of decentralized finance (DeFi). This protocol has experienced significant growth, especially thanks to its innovative yield farming features, and has attracted the attention of many crypto investors.
Yield Farming Awards and User Participation
In just 37 days, an impressive 703 users have earned more than 50,000 XRP through the Magnetic X platform. This highlights the platform's capacity to generate significant rewards and has become an attractive option for yield farming enthusiasts. The liquidity of the platform has also increased significantly and currently stands at 1.9 million XRP. This has increased the value of the native MAG token and it is currently priced at 2,240 XRP.
