aave has a new app 5% yield on usd as the base rate you can boost that rate by doing kyc (extra 1% yield) or referring a friend (extra 0.5% yield) or setting up automatic deposits (extra 0.5% yield) they have an insurance program natively at the protocol level (umbrella) and then they have additional insurance through relm, up to $1m per user easy to login, easy to deposit feels like a decent competitor to high yield savings accounts, online banks, and other mediocre tradfi yield products so what do we think have they sufficiently mitigated crypto risk? do we trust the $1m insurance policy? if defi crashes and burns (smart contract risk, oracle risk) will the insurance policies be sufficient? will the insurer (relm) be solvent in catastrophic scenarios? is this a legit competitor to tradfi savings apps? will aave app get traction with normies?
1.66K
10
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.