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HomeAltcoinsPhuture launches its first 'Saving Vault' to gain interest on $USDC holdings

Phuture launches its first ‘Saving Vault’ to gain interest on $USDC holdings

 

On September 27, Phuture, the leading decentralised cryptocurrency platform, officially tweeted about the launch of its first ‘USDC Savings Vault,’ which would allow users to earn consistent interest on their USDC holdings.

Customers will be able to receive consistent income on their USDC holdings if they store them in the USDC Savings Vault, which is the first savings vault offered by the DeFi protocol. The USDC Savings Vault is referred to as “USV.”

Notional CEO Teddy Woodward said:

“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.”

Phuture claims their new product would provide passive income

Phuture claims their new product would provide passive income
Phuture claims their new product would provide passive income

Phuture claims that the cryptocurrency savings product would provide consumers with a new option to make passive income on their USDC, which will be available at rates that are trustworthy and predictable.

The Notional Financial (NF), which is built on Ethereum and provides users with a platform on which they can borrow or lend crypto assets at a predetermined rate, will be the engine that drives the USV.

The automatic yield-generating product will be made available by the vault via the use of smart contracts. Users can buy this product through the Phuture app, and their USDC deposits are reflected in the number of vault shares they get. 

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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