Public Mint EARN is an application running on top of the fiat-native Public Mint blockchain network, providing a simple and friendly interface to access earnings rates available on the DeFi/CeFi market for your fiat (or stablecoin) deposits.
On the surface, EARN works like a savings account that delivers the high yield levels found in the crypto space to fiat, while retaining the ability to move funds instantly like a checking account.
Under the hood, EARN maximizes yield by allocating the funds to a network of CeFi* partners and DeFi** providers, forming a diversified portfolio with a more decentralized and resilient nature. This is similar to the model of an investment fund, but much more liquid, accessible, easier to operate, and with a decentralized governance model.
MINT token holders stake their tokens to vote on portfolio allocation and other governance matters. These are typically individuals familiar with crypto and a financial incentive to vote on what they consider the best possible options. Like fund managers, they get a portion of the earnings for the decisions they make via voting.
Regular users of Public Mint can allocate their USD to the EARN program, receiving in return an equivalent balance of earnings-bearing USD+ (which increases proportionally to the earnings obtained by the portfolio, in a method called “rebasing”) and which can be redeemed for USD at any time.
Please consult the Public Mint Earn (Litepaper) for a complete overview of the EARN program and how it work.
*: CeFi partners are centralized businesses that offer earnings by offering loans and credit in the crypto space, such as Celsius⑴, Nexo and Crypto.com
**: DeFi are entirely decentralized versions of CeFi, relying mostly on smart contracts with little to no human management — such as Compound, Curve and Aave.
⑴ Due to the current situation at Celsius, Public Mint is currently reassessing the relationship