Kraken launched DeFi Earn, offering users yields of up to 8% APY through three automated vaults: Balanced, High, and Advanced. Cash or stablecoin deposits are converted to USDC if needed and automatically allocated to DeFi lending protocols, with no seed phrases or manual signatures required.
The platform uses Privy’s embedded wallets and operates on Kraken’s Ethereum Layer 2, the Ink Network. Risk oversight is handled by Chaos Labs and Sentora. Rewards come from actual demand on Aave, Morpho, Tydro, and Sky Ecosystem. The exchange charges a 25% performance fee on earnings, and withdrawals are generally instant, though delays can occur if protocol liquidity is low.
DeFi Earn is available in 48 U.S. states, Canada, and the EEA, with plans to expand further. The initiative is part of Kraken’s strategy to integrate centralized and decentralized finance, alongside Auto Earn, commission-free stock and ETF trading, and the Krak Card. Ink has $534 million in TVL and $595 million in stablecoin market cap, with USDC representing 43% of that, ranking 14th among L2 blockchains by TVL.
Source: https://x.com/krakenfx/status/2015809818661970210
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions
