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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% net APY (after unflat's 15% performance fee). 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?

unflat charges a 15% performance fee on yield generated, not on your principal. We only earn when you earn. No deposit, withdrawal, or management fees.

Are there hidden fees?

No. The 15% performance fee is the only cost. No deposit fees, no withdrawal fees, no management fees, no account maintenance fees, no hidden spreads.

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 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:

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