Introducing Two New Assets: Ethereum and Dai, and Weekly Interest Payouts
Singapore, Oct. 5, 2020 — We are proud to announce that we will now support Ethereum (ETH) and Dai (DAI) at Hodlnaut. This development of Hodlnaut will help users diversify their portfolios by giving them more options on crypto-assets to earn interest. Besides supporting two new assets, Hodlnaut wants its users to have faster access to the interest earned with weekly payouts instead of monthly.
Furthermore, there is no minimum deposit to join our affiliate program (previously affiliates are required to deposit 0.1 BTC). In summary, recent developments are as follows:
- The addition of ETH, and DAI on our interest account where users can deposit and earn interest at favorable rates. The yearly interest rate for ETH is 6.5% and 8% for DAI. After compounding, the annual percentage yield (APY) would be 6.7% for ETH and 8.3% for DAI.
- Hodlnaut will credit the accrued interest to the user’s account every week. We will distribute the weekly payouts every Monday. By switching to weekly payouts, users will earn more interest from the compounding effect. Previously, the interest is credited to the user’s account at the end of every month.
- There is no minimum deposit required to join our affiliate program, previously, affiliates are required to deposit at least 0.1 BTC. However, all users and affiliates are still required to go through our KYC (Know-Your-Customer) verification process.
Ethereum (ETH) is the cryptocurrency from the Ethereum network that is widely considered as the second most popular digital token after Bitcoin. It is also the second-largest cryptocurrency by market capitalization.
Dai (DAI) is a stablecoin whose value is pegged to the US dollar. It is built on the Ethereum network and backed by Ether (ETH). As a decentralized cryptocurrency, Dai uses margin trading to respond to changing market conditions and preserve its value against the major currencies.
Juntao Zhu, Hodlnaut’s Co-Founder and CEO of Hodlnaut, says:” We have decided to support new assets in our platform because there’s an increasing demand from both borrowers and lenders to support more ethereum based asset class.”
Since launching in April 2019 as part of Antler’s portfolio company, a global VC firm backing the early-stage startups, Hodlnaut has acquired over 550 users and holds more than 750 BTC in deposits.
Currently undergoing a Monetary Authority of Singapore (MAS) License application in Singapore in response to the Payment Services Act, Hodlnaut is Certified Fintech by the Singapore Fintech Association (a recognized credential by the MAS) and a recognized Blockchain company by the Infocomm Media Development Authority (IMDA) of Singapore. You can check Hodlnaut Pte Ltd’s License status here, and please visit our FAQs for more questions and information about our interest account and our platform.