Unlock Crypto Earnings: ZenGo Launches Savings Feature Powered by DeFi

ZenGo, a cryptocurrency wallet, now offers interest-earning savings accounts by partnering with DeFi (decentralized finance) projects Compound and Figment. Users can allocate crypto assets to these projects, earning interest that is automatically reinvested. ZenGo integrates these DeFi services seamlessly, providing a user-friendly interface that simplifies complex financial transactions.

Are You Ready to Earn on Your Crypto?

ZenGo is taking its crypto wallet experience to the next level. Beyond the basics of holding, sending, and receiving crypto, you can now stash some of your digital assets away and start earning interest. That's right, ZenGo has become your very own virtual piggy bank.

What's the Secret Sauce?

The magic behind ZenGo's new savings feature lies in its partnership with two DeFi (decentralized finance) projects. Think of DeFi as the blockchain version of your traditional banking tools. You can borrow, lend, invest in derivatives, and more.

How Does It Work?

Step into your ZenGo wallet's "Savings" tab. Select an asset like Dai, choose how much you want to tuck away, and sit back and relax. ZenGo takes care of the rest, offering you a birds-eye view of your savings accounts and automatically reinvesting your earnings. And the beauty is, you can withdraw your funds whenever you need.

Behind the Scenes

Under the hood, ZenGo relies on the Compound protocol, a lending DeFi project. It's like a LendingClub on steroids, built on the blockchain. Users lend money to Compound, creating a pool of liquidity that others can borrow. Interest rates fluctuate based on supply and demand, so keep an eye out for higher returns on assets like DAI or USD Coin.

What About Tezos?

ZenGo also teams up with Figment to support Tezos staking. Instead of creating a lending marketplace, staking involves locking your crypto into a blockchain's network to secure and validate transactions. It's a different way to earn rewards, also through interest gains.

User-Friendly Savings

For the average Joe, it's like having a savings account for your crypto. ZenGo simplifies the DeFi experience compared to other wallet apps like Coinbase and Argent. They believe they're making crypto finance accessible to the masses.

The Future of Crypto Wallets

ZenGo's mission is to become the go-to crypto wallet for everyone, from seasoned pros to crypto newbies. By integrating DeFi services into their platform, they're making it easier for users to earn passive income on their crypto holdings. As the crypto landscape evolves, expect ZenGo to continue innovating, bridging the gap between traditional finance and the blockchain realm.