Metamask will allow users to earn passive yield through stabechoin in their purse. The new feature is powered by Aave Protocol. How to earn stablecoin work?
Summary
- Metamask has launched its first passive award program for stablecoin deposit.
- Users can directly deposit stablecoins in Aave protocol through mobile app without a lock-up period.
On 29 July, Crypto Wallet Service launched its first Stabelcoin Yield Product. Dubbed “Stabelcoin earning,” users can now start depositing their stabelcoin and start earning passive passes directly from the mobile app.
For the official announcement on the X account of the Crypto Wallet, users can use the Metamasa Mobile App to deposit stablecoins such as USDC (USDC), USDT (USDT) and DAI (DAI). Powered by the AAVE (AAVE) protocol, the users will be able to submit stabelcoins directly through the mobile wallet app.
This feature is currently live on Android devices and will be accepted for iOS users later this week. The feature does not require the user to lock its stabechoin for any time. In addition, users are given a complete self-sign of their property, as they are directly controlled through Metamaska.
How do DOS Metamsask’s stabechoin earn work?
For users who already have an account connected to the platform’s wallet, they just have to do the stabecin in the AAV lending protocol from the Inside the Wallet. User will not pay any additional fees from the platform.
By depositing stablecoins in the AAVE lending protocol, the user is called “Atoches”. This means that if the user is interested in depositing the USDC, they will receive the same amount in the AUSDC.
After receiving Atkens, the user can monitor the glory of its investment token in the account of the platform through the platform app, displaying the applay feed rates.
As mentioned earlier, users can withdraw their money at any time, this is the tokens are not bound by the lock-up period unlike most services. Atukens hold in the wall reported the volume of stabechoids, which the user can withdraw.
Recently, Binance and PayPal have unveiled StableCoin rewards products on their respective platforms. The latest addition of binance is RWUSD, which tokens American Treasury Bonds and other Rwas that provides a yield of 4.2% APR.
Meanwhile, the Pyusd (Pyusd) rewards allows the program holders to give daily awards per day, which they prize daily on the amount of stabelin conducted with “Pyusd rewards rate”. As long as the user holds at least 1.0 pyusd, they erect a channel to get passers -by yield.
