Block Earner, Australia-based fintech company, claims to be the first such company in the world to offer a direct connection with borrowing and lending protocols – Compound and Aave. It has launched a platform whereby users can earn high yields using two DeFi protocols.
Users can deposit their money into Block Earner using traditional bank transfers or instant PayID system. The platform converts the money to USDC stable coins. Moreover, the protocol promises up to 18% variable yields. But that is not presently available. Today, Aave was giving 1.88% APY, and Compound was offering 2.01%, both compounded daily. This is much better than what’s being given by Australian banks. Plus, it should be noted that there are no fees or lock-in periods.
Block Earner will be launching a mobile app in a couple of weeks. It also plans to expand from mainnet Ethereum to Avalanche, Polygon, and Optimism. Charlie Karaboga, the co-founder and CEO of Block Earner, highlighted that there are only four million wallets using DeFi platforms around the world. He said Block Earner has a user-friendly interface that builds a bridge and greatly simplifies access to DeFi platforms.
Block Earner hopes to encourage more people to use DeFi platforms and boost awareness and adoption of DeFi’s benefits. The Sydney-based fintech company offers customers a safe-middle ground between the volatility risks of share trading and the lackluster returns of traditional savings accounts.
Karaboga pointed out that with awareness, people will see a relevant proposition to strengthen their financial health. He said Block Earner is a bridge that easily connects them to this world.