How Earning through unflat Works

From adding money to earning interest. Here's the complete flow.

unflat connects your money to overcollateralized DeFi lending markets on Morpho. The app has two balances, Cash and Savings: money you move to Savings earns every second. No lock-up.

The 5-step flow

1. Add money

Sign in with email, Apple or Google. Add money by card or bank transfer through MoonPay or Coinbase, move it from your Coinbase account, or send USDC to your unflat wallet on the Base network. Euros are converted into USDC, the dollar stablecoin your money is held in today.

2. Move it to Savings

Money you move to Savings goes into Morpho lending vaults on Base, run by third-party curators, today Steakhouse Financial and Gauntlet. Morpho is one of the largest DeFi lending markets (the largest is Aave). Borrowers must pledge more value than they borrow.

3. Interest accrues every second

Earnings are visible in real time in the app. No waiting for a monthly payout.

4. The market sets the rate

The rate is variable: the lending market sets it, not unflat, from the supply and demand for loans. unflat takes no fee on it. Vault fees are deducted before the rate, and covered money earns a slightly lower rate. See How the Rate Is Set.

5. Withdraw whenever you want

No lock-up, no unflat fees. Get euros back in your bank account through MoonPay or your Coinbase account, or send the money to another account you control.

Public record. Deposits, yield and cover are public on the Base blockchain, so you can check where your money is and what it earns yourself.

Who is borrowing, and why?

Borrowers use DeFi lending markets for practical reasons:

• Getting cash without selling the crypto assets they hold

• Trading on price differences across venues (arbitrage)

• Putting idle assets to work

They pay interest for this, and that interest, after the vault fees, is your yield.

What happens if a borrower can't repay?

Every borrower locks up collateral worth more than the loan. If its value falls below a set limit, the smart contract lets a liquidator repay the lenders and take the collateral. No one has to decide to apply the rule. If prices fall faster than liquidations, a loan can leave bad debt, and lenders take the loss: see Risks and Considerations.