88mph MPH Price

What is 88mph (MPH)?

88mph (MPH) is a decentralized finance (DeFi) platform that enables users to earn yield on their cryptocurrency holdings through fixed-income investment strategies. The platform focuses on providing liquidity to various DeFi projects while allowing users to lock in attractive interest rates on their assets. Launched in 2020, 88mph aims to simplify the yield farming process, making it accessible for both novice and experienced investors. By leveraging smart contracts on the Ethereum blockchain, 88mph offers a transparent and secure environment for users to generate passive income.

Who are the Founders of 88mph?

The founders of 88mph are a group of experienced professionals in the finance and technology sectors. They include:

• Hugo McDonaugh - Co-founder and CEO, who has a background in finance and a passion for cryptocurrencies.
• Joaquin Pujol - Co-founder and CTO, with expertise in software engineering and blockchain technology.
• David Hogg - Co-founder, known for his work in developing DeFi projects and protocols.

Together, they have worked to create a platform that enhances the user experience in yield farming and decentralized lending.

How does 88mph Work?

88mph operates by allowing users to deposit their cryptocurrencies into the platform, which are then used to provide liquidity to various DeFi protocols. Here’s a step-by-step breakdown of how it works:

1. Deposit: Users deposit their assets, such as ETH or stablecoins, into the 88mph platform.
2. Interest Rates: The platform offers fixed interest rates that users can lock in for their deposits, typically ranging from 5% to 20% APY, depending on the asset and market conditions.
3. Liquidity Provision: The deposited assets are then allocated to liquidity pools in DeFi protocols, generating returns.
4. Rewards: Users receive yield in the form of MPH tokens, which can be traded or used within the ecosystem for additional benefits.
5. Withdraw: Users can withdraw their assets and accrued interest at any time, offering flexibility and control over their investments.

This model allows users to benefit from the high yields of DeFi while minimizing the risks associated with impermanent loss and other common pitfalls in yield farming.

Top Use Cases of 88mph

88mph has several key use cases that make it appealing to a wide range of users:

• Passive Income Generation: Users can earn fixed interest on their crypto holdings without actively managing their investments.
• Liquidity Provision: By providing liquidity to various DeFi protocols, users contribute to the overall health of the DeFi ecosystem while earning rewards.
• Risk Mitigation: The platform's fixed-rate model helps users avoid the volatility associated with variable interest rates found in traditional yield farming.
• MPH Token Utility: MPH tokens can be used for governance, allowing holders to vote on protocol changes and improvements, as well as accessing additional features within the ecosystem.
• Diverse Asset Support: 88mph supports a variety of cryptocurrencies, enabling users to earn yields across different assets, including stablecoins and major cryptocurrencies.

How to Keep your 88mph Safe?

Ensuring the safety of assets on 88mph requires a combination of best practices in crypto security and an understanding of the platform's features:

• Use Hardware Wallets: Store your cryptocurrencies in hardware wallets for an added layer of security against hacks and phishing attacks.
• Enable Two-Factor Authentication (2FA): Always enable 2FA on your accounts to protect against unauthorized access.
• Stay Informed: Follow updates from 88mph and the broader DeFi community to stay aware of any security vulnerabilities or changes to the platform.
• Review Smart Contracts: Before depositing, review the smart contracts being used by the platform. Audited contracts are generally safer.
• Diversify Investments: Avoid putting all your assets into a single platform or asset. Diversification can help reduce risk.

By following these guidelines, users can enhance the security of their assets while enjoying the benefits of yield generation through 88mph.