Alpend has introduced bonus Canton Coin rewards for CBTC lenders through a partnership with BitSafe. The incentives sit on top of the interest earned by supplying CBTC to Alpend's lending market.
CBTC is BitSafe's representation of Bitcoin on Canton. It allows Bitcoin-backed value to be held, transferred and used within Canton applications.
Alpend operates a pooled lending market. Depositors supply assets that other users can borrow against collateral, with borrowers paying interest on their outstanding loans. The lending yield depends on how much of the pool is being used.
The partnership rewards are denominated in Canton Coin, while the asset supplied to the lending pool is CBTC.
Capacity is limited. Alpend's launch announcement makes deposits subject to the pool's supply cap, and the protocol remains in early access. Existing users can access the CBTC market through the Alpend app, while new users can request access through its waitlist.
