Savings
Send Savings is not a bank account and is not similar to a savings account. Deposits are not insured by the FDIC, SIPC, or any government agency and may lose value. By using Send Savings, you acknowledge the inherent risks of decentralized finance protocols, including but not limited to smart contract vulnerability, liquidation risk, and stablecoin depeg risk. Consult your own financial and tax advisors before using this product.
The Send Savings feature allows you to earn interest on your USDC through decentralized lending protocols. Simply deposit your USDC into the Savings vault and start earning interest. Your funds remain accessible, and you can withdraw them at any time. Interest rates are variable, determined by the underlying lending protocols, and are not guaranteed.
How It Works
- Interest begins accumulating immediately
- Returns are automatically reinvested to maximize growth
- Track your earnings in real-time through the Send app
- Access your funds plus earned interest whenever you need them
Key Benefits
- Variable Interest Rates: Earn interest on your USDC (rates vary based on market conditions)
- No Lock-up Periods: Access your money whenever you need it
- Low Minimum Deposit: Start earning with as little as 5 USDC
- Secure Infrastructure: Your funds are protected by robust security measures
- Full Control: Maintain complete ownership of your money at all times
Safety and Security
Send Earn is non-custodial, meaning you always maintain full control and ownership of your funds through on-chain smart contracts. You remain in control of your assets at all times.
Send Earn keeps your USDC in smart contracts you control, so your balance stays liquid and redeemable on demand even while it is generating yield.
We've built multiple layers of security to protect your funds:
- Regular third-party security audits verify the safety of our systems
- Automated risk management monitors activity 24/7
- Conservative lending strategies that prioritize security over aggressive returns
Behind the Scenes
Your deposited USDC is put to work through established decentralized lending protocols (Moonwell ↗ and Morpho ↗) that have been thoroughly tested and secured. These protocols facilitate lending to verified borrowers who pay interest, which is then shared with you as a depositor.
Because the vault is built on programmable smart contracts, you can withdraw in minutes. If you choose to exit, the protocol automatically unwinds your position while maintaining the safety buffers enforced by the lending partners.
Our lending strategy focuses on security and sustainability:
- All lending is done against blue-chip digital assets only
- Borrowing is overcollateralized with conservative loan-to-value ratios for added security
- Risk management is handled by industry leaders BlockAnalitica ↗ and B.Protocol ↗, who collectively advise projects managing over $12 billion in assets
Send Earn's operations are transparent and verifiable on-chain. Our lending protocols maintain conservative risk parameters and automated safeguards designed to help protect your deposits while generating yield.
Risks
Using Send Savings involves risks inherent to decentralized finance, including:
- Smart Contract Risk: Despite audits and testing, smart contracts may contain undiscovered vulnerabilities that could result in loss of funds.
- Liquidation Risk: Borrower positions in underlying protocols may be liquidated during extreme market volatility, which could temporarily affect available liquidity.
- Stablecoin Depeg Risk: USDC or other assets used by the lending protocols could temporarily or permanently lose their peg to the U.S. dollar.
- Protocol Risk: The underlying lending protocols (Moonwell, Morpho) are independently operated and may experience technical issues, governance changes, or economic exploits.
- Variable Returns: Interest rates fluctuate based on supply and demand in lending markets and may decrease to zero at any time.
These risks are not exhaustive. You should carefully evaluate whether Send Savings is appropriate for your situation.