DeFi protocol Phuture launches USDC earn product

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DeFi protocol Phuture launches USDC earn product

By Benson Toti - min read
  • Phuture’s Earn Product for USDC is powered by DeFi protocol Notional Finance.
  • Users can deposit the stablecoin USDC and earn income on the assets saved in the USDC Savings Vault.

Decentralised crypto platform Phuture has formally introduced its first yield earning offering via the recently announced ‘Saving Vault’ product.

The first crypto asset on offer is USDC Savings Vault, or “USV”, the DeFi protocol’s first Savings Vault that will see customers earn reliable interest on their USDC holdings.

According to Phuture, the crypto savings product targets offering users a new way to generate passive income on their USDC, which will be accessible at dependable and predictable rates.

The USV will be powered by Notional Finance, an Ethereum-based protocol that offers a platform where users can borrow or lend crypto assets at a fixed rate.

Commenting on the product and the partnership with Phuture, Notional CEO Teddy Woodward noted:

Interest rates in crypto can swing wildly. Notional’s focus is to bring fixed-rate opportunities from tradfi to DeFi so users can plan for the future and depend on predictable rates. We’re proud to partner with Phuture to provide their users an even simpler way to access Notional’s fixed rate yields.”

The vault will leverage smart contracts to offer an automated yield generating product. Users can access this product via the Phuture app, with equivalent vault shares allocated to represent the USDC deposits.