> For the complete documentation index, see [llms.txt](https://unflat.gitbook.io/unflat-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://unflat.gitbook.io/unflat-docs/resources/faq.md). # FAQ Quick answers to the most common questions. ## General ### What is unflat? unflat is a European savings app that connects your deposits to overcollateralized DeFi lending markets through Morpho Protocol, earning up to \~7% APY, up to 6x more than a traditional bank. The experience is designed to feel like a savings account, without requiring any crypto knowledge. ### Is unflat a bank? No. unflat is not a bank and does not hold a banking license. Your deposits are not covered by the European Deposit Insurance Scheme (€100,000 guarantee). Never deposit money you cannot afford to lose. ### Who is behind unflat? unflat was founded by **Alessandro Prandini** (CEO) and **Giacomo Dotto** (COO), alumni of B4i (Bocconi for Innovation). The team is backed by advisors from Hogan Lovells, LSEG, Euronext, Revolut, Bitpanda, Circle, and Bocconi University. ### Where is unflat based? Milano, Italy. unflat is a Europe-first product. ## Deposits & Withdrawals ### What stablecoin does unflat use? Currently **USDC** (USD Coin by Circle). unflat plans to add EURC (euro stablecoin) support when vault liquidity on Morpho is sufficient, eliminating FX risk for European users. ### How do I deposit? You can deposit USDC via **Coinbase** or **direct blockchain transfer**. European users starting from EUR need to convert to USDC first. ### Can I withdraw anytime? Yes. There are no lockup periods, no penalties, and no withdrawal fees. Your funds are returned to you whenever you need them. ### Is there a minimum deposit? Details on minimum deposits will be communicated at launch. unflat is designed to be accessible to everyone. ## Earnings ### What is the APY? Up to **\~7% APY**, with no unflat fee deducted from it. Rates are variable and depend on market conditions, specifically the supply and demand for borrowing in the Morpho lending pools. ### Are returns guaranteed? No. APY is variable and can go up or down. unflat does not guarantee any specific return. Past performance is not a promise of future results. ### How often do I earn interest? Interest accrues **every second** and is visible in real-time inside the app. No waiting for monthly statements. ### Is yield compounded? Yield accrues continuously on your deposit. Details on compounding mechanics will be provided at launch. ## Fees ### How does unflat make money? Not from your yield. unflat charges **no performance fee, no management fee and no subscription** — the performance fee was set to 0% in August 2026. Revenue is expected to come from partnership fees with vault curators and, in future, white-label API licensing to fintechs and neobanks. ### Are there hidden fees? No. unflat charges nothing: no deposit fees, no withdrawal fees, no management fees, no account maintenance fees, no hidden spreads. Two third-party costs can apply, and neither is unflat revenue: the fee charged by your on-ramp or off-ramp provider, and, on protected deposits, the cover premium (\~1.15% per year) which is already included in the displayed rate. ## Security ### Is my money safe? Funds are allocated to overcollateralized lending pools on Morpho Protocol (zero exploits, $5B+ managed, audited smart contracts). unflat is non-custodial: you retain ownership of your wallet and funds. However, DeFi carries inherent risks including smart contract bugs, stablecoin depegging, and liquidity issues. Read our [Risks and Considerations](https://github.com/xquo-exchange/unflatfinance-docs/tree/main/resources/basics/risks-and-considerations.md) page for full details. ### Does unflat hold my funds? No. unflat is **non-custodial**. Your deposit goes directly from your wallet into the Morpho vault. unflat never holds your assets. ### Can I verify my position on-chain? Yes. Every transaction is recorded on the blockchain. You can independently verify where your funds are and how much they're earning at any time. That's our promise: *"Please don't trust us. Verify."* ## EURC & Currency ### Why USDC and not EUR? unflat's vision is fully euro-denominated. However, EURC (euro stablecoin) vaults on Morpho currently lack sufficient liquidity. unflat operates with USDC today and will add EURC support as soon as the infrastructure allows. ### What is the FX risk? European users depositing from EUR must convert to USDC, which introduces EUR/USD exchange rate risk. If the dollar weakens against the euro, your effective returns in EUR may be lower. This risk disappears once EURC is supported. ## Contact Still have questions? Reach out: * **Email:** * **Website:** [unflat.finance](https://www.unflat.finance/) * **LinkedIn:** [/company/unflatfinance](https://www.linkedin.com/company/unflatfinance) * **X:** [@unflatfinance](https://x.com/unflatfinance) * **Telegram:** [@unflatfinance](https://t.me/unflatfinance)