Source : coinquora.com
- Flint announces it will enter its beta stage.
- This will enable anyone easily access passive returns on its stablecoins.
- Flint aims to deploy over $500 million in capital across various DeFi protocols.
Flint, a gateway for passive crypto investment announces it will enter its beta phase, allowing anyone to earn passive returns on their stablecoins with ease. Flint aspires to offer investors exposure to the crypto market without volatility, fulfilling the aspirations of many to earn passively.
Flint aims to address the difficulties encountered by many cryptocurrency enthusiasts to create a passive stream of income by providing investors with access to crypto marketplaces without the associated volatility.
To add on, Flint is able to create up to 13% annual profits using DeFi and stablecoins, and the service does not require the customer to possess any cryptocurrency directly. Instead, consumers can use Indian rupees to gain exposure to decentralized finance (DeFi) yields at times when interest rates are historically low.
Flint solely uses stablecoins such as UST and USD Coin to earn profits. Because stablecoins are set to $1, price volatility is reduced for those who can’t handle it. Flint will also invest the stablecoins in rigorously vetted decentralized finance protocols in order to earn profits for the platform’s users.
According to the team, one of the perks of Flint is that it allows anyone to withdraw funds at any moment without incurring costs. Not only that, the process of entering and exiting a position is straightforward, providing a new entry point into the cryptocurrency business for those who do not currently hold crypto assets.
In addition, over the next three years, Flint plans to deploy up to $500 million in funds across multiple decentralized finance protocols on Solana (SOL). This is part of a process to create a thematic basket of coins on Solana, as well as the network’s introduction of Flint’s NFT store.
Flint co-founder Anshu Agrawal adds,
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.
There is also an intriguing referral scheme during the beta test, which may accommodate up to 100,000 users, in which consumers receive additional returns on their deposits at set times. Flint is said to decrease risk by vetting protocols for its users, favoring stablecoins over more volatile assets, and requiring no lock-in.
Furthermore, the business intends to employ Solana for international remittances and Flint Pay (P2P and P2M crypto payments), as well as develop Solana’s native stablecoins as the key asset for Flint yield creation.
Solana Foundation Advisor, Akshay BD says,
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.