We’re excited to announce the launch of a new feature that gives Crypto.com App and Crypto.com Exchange users another way to receive rewards — DeFi Lending!
What is DeFi Lending?
DeFi Lending lets users lend their assets on DeFi protocols, generating yield in the form of interest. They can receive up to 2.74% on their assets with no term limits, depending on the protocol.
Users deposit tokens into decentralised lending pools for borrowers to obtain liquidity. In return, lenders receive interest payments from the DeFi protocol according to rates set by supply and demand within the protocol.
The feature currently supports ETH lending on Aave, with more assets and protocols to come. Stay tuned.
How It Works
- Lend Your Tokens: Follow these steps in the App or on the Exchange
- App: Go to the Earn tab > DeFi Yield > DeFi Lending
- Exchange: From the top navigation bar, go to Yield > Staking & DeFi
- Select the Token, input the Amount you wish to supply, read and accept the Terms and Conditions, and confirm
- Get Rewarded: Rewards are distributed up to three times per week, as determined by the DeFi protocol
- Redeem Your Tokens: You can redeem the supplied amount anytime, and it will be transferred back to your Crypto Wallet in the App or your Wallet on the Exchange
DeFi Lending is available to users in select jurisdictions. Rates may vary.
For more information, visit the relevant Help Centre articles for the App and Exchange.
Not a Crypto.com user? Download the Crypto.com App or sign up to the Crypto.com Exchange now to start lending.
