Introducing Two New Assets: Ethereum and Dai, and Weekly Interest Payouts

News
First published
February 4, 2022
Last updated
June 30, 2022

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.

  • The addition of ETH and DAI on our crypto interest account where users can deposit and earn interest at favorable rates. After compounding, the annual percentage yield (APY) would be up to 4.60% for ETH and 3.56% 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.

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 on 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). 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.

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Disclaimer: By using Hodlnaut, users expressly acknowledge and agree to the Terms of Use listed on our website at www.hodlnaut.com. This includes the relevant risk warnings applicable to you as a user of Hodlnaut's services, prior to/when carrying out Digital Payment Token (DPT) transactions. This article is for informational purposes only, and is not an offer nor a solicitation to invest in DPT, securities, funds, partnership interests or other investments or funding or purchasing loans. It is the user's sole responsibility to conduct due diligence and research extensively into each DPT and platform, and understand that the volatility and unpredictability of the price of DPT may result in significant loss over a short period of time. No information on Hodlnaut should be considered to be business, legal, financial or tax advice regarding the use of Hodlnaut. Users should consult their own legal, financial, tax or other professional advisors before using Hodlnaut. Please refer to our website at https://www.hodlnaut.com/tos for the full Terms of Use.

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