Gemini Earn adjusts interest rates for ALCX, AMP, and XTZ

Gemini Earn adjusts interest rates for ALCX, AMP, and XTZ

Gemini has adjusted the interest rates for several cryptocurrencies staked in its Earn platform.

The interest rates on Alchemix (ALCX), Amp (AMP), and Tezos (XTZ) have changed. The changes are effective starting on June 1, 2022. Both ALCX and AMP are seeing an interest rate reduction while XTZ is seeing an increase.

The new interest rates for Earn assets are:

ALCX: 1.25% APY
AMP: 0.45% APY
XTZ: 3.0% APY

The previous interest rates were:

ALCX: 1.51% APY
AMP: 0.5% APY
XTZ: 2.05% APY

All other rates for assets in the Earn program are unchanged. You can find all of the rates for the different cryptocurrencies supported on Gemini in the Earn tab of the Gemini app and website. According to Gemini, interest compounds daily and interest accrued can be viewed in your Earn balance.

“Since Gemini Earn is a lending program, it is subject to the same market forces of supply and demand that affect every lending market,” the company says. “Gemini and its partners in Gemini Earn monitor market dynamics and adjust rates as needed.”