Generate Passive income with DexWallet

Jordi Morris

3 min readMar 31, 2019

Find in this post:

A step by step guide on how we generate earnings from our savings at ~4.2% rate.
FAQS section

We send 5000 DAI and ~$10 in ETH from an account to fund the DexWallet:

DAI tokens will be used to generate passive income, this is, money generating money.

How?

Using smart contracts. Smart contracts are programs running on the Ethereum Network. We will use ETH in order to interact with those contracts.

We split 5000 DAI :

2500 DAI will be deposited using Compound. Compound application generates an Anual Percentage Return of 4.19% (market based).
2500 DAI will be used with other smart contracts.

We open DexWallet and Tap Apps

Tap Compound

Select DAI (DAI).

Supply

This is the tab we will use to deposit 2500 DAI into the smart contract.

Amount to Supply: 2500 (DAI)
Tap “Approve & Supply”

DexWallet displays the status of the transaction, we can wait to see the status:

We’re good, let’s tap “Defi” :

Defi Section:

Defi section was empty before, but now that we are using compound we monitor the performance of our money:

Supplied: This is the amount we have just deposited
APR (Anual Percentage Rate): at 4.20% this will generate ~105 DAI in a year.
Earned: Earnings generated from the supply we deposited.

We receive interests generated every 15 seconds approximately. There is no minimum amount of time and there’s no penalisation for withdrawing funds or earnings.

Less than 1 hour later we have the first earnings generated!

Earnings are received in DAI. Compound will Automatically add earnings to the supplied deposit. This is, we generate a compound interest on our earnings.