- There are no specific time requirements for locking funds
- You can get exposure to DeFi yields at historically low interest rates using fiat like Indian rupees
- Flint plans to deploy capital of up to $500 million across DeFi protocols on the Solana network
Passive crypto investment gateway Flint is entering its beta stage, in which users access passive returns on their stablecoins. These can be up to 13% annually. There are no specific time requirements for locking funds according to the company’s press release, first published on CoinTelegraph.
No need to own crypto
Flint can secure these impressive returns using decentralized finance (DeFi) and stablecoins. What’s more, you don’t need to own any cryptocurrency directly. You can get exposure to DeFi yields at historically low interest rates using fiat like Indian rupees.
Reducing price volatility
Flint uses only stablecoins like Tether (USDT) and USD Coin (USDC) to generate returns. These are pegged to the USD 1:1, minimizing price volatility. What’s more, Flint secures returns by investing the stablecoins in DeFi protocols.
Deploying $500M on Solana in 3 years
Flint plans to deploy capital of up to $500 million across DeFi protocols on the Solana network during the next three years. The ultimate goal is to introduce Flint’s nonfungible token (NFT) store on Solana (SOL/USD).
Flint also aims to establish Solana’s native stablecoins as the primary asset for yield generation and use Flint Pay in peer-to-peer and peer-to-merchant crypto payments and Solana for foreign remittance.
The beta test can accommodate up to 100,000 users. They can earn more returns on their deposits for specific intervals through a referral program. Risk is reduced due to the lack of lock-in requirements and using stablecoins rather than volatile assets.
Anshu Agrawal, cofounder of Flint, commented:
We are targeting close to 500 million users globally across various customer segments who are crypto-curious, have idle cash or stable coins and are chasing higher yields than conventional investments. The best part is that Flint achieves all of these for our users without them having to break their heads on active crypto trading or price movements.
Akshay BD., a foundation advisor at Solana, added:
We’re incredibly excited about startups like Flint leveraging the Solana network to offer valuable consumer products in the mobile-first experience users are used to. Crypto is increasingly finding a place in every investor’s portfolio, and stablecoin yield may offer a great starting point for most investors entering the space.
Users are intimidated by the risk of financial losses due to scams or price fluctuations, the lack of user-friendly interfaces for investment opportunities, and the complicated research requirements to invest in DeFi. Flint makes an appealing, consumer-first investment solution available through a mobile application.
