Our new Compound integration lets your company earn interest on crypto
We’re thrilled to announce that companies can now yield interest on their crypto directly from their Multis account! That’s right: our Compound integration means that your company can now put idle crypto to work 🤩
Earn up to 15% p.a. on your company’s crypto
We’re on a mission to help companies and teams make the most of their crypto so they can focus on building amazing products and drive crypto adoption forward. Most of their crypto today sits idle in wallets. It’s a waste, and it does not serve the community. We integrated Compound’s protocol to change that 📈
How does it work?
Most companies have checking and savings accounts. The latter essentially serves one goal: provide liquidity to the lending market, so companies can borrow and fund their growth. You’ll earn interest for your contribution to this market. Banks act as intermediaries and match lenders (your company) and borrowers (other companies), and get their cut too 😡
In Decentralized Finance (DeFi), the bank is gone, but you can still be a lender: your company’s crypto is locked and pooled through a smart contract. Borrowers can tap into this pool, and you get rewarded for providing liquidity. Interest rates are calculated through an algorithm and depend on supply/demand dynamics. Less intermediaries also means you’ll earn more 😁
How can I earn interest?
Start earning interest in seconds! We made it super convenient because we know teams got better things to do:
- Create a multisignature wallet for your company and deposit crypto. Make sure to invite other owners to enable key recovery and keep your funds accessible.
- Select the crypto you want to lend from your company’s dashboard, with no minimum amount. We support USDC and DAI (stablecoins pegged to dollars), as well as other cryptocurrencies like BAT or REP.
- Initiate transactions and get them confirmed by your team — they’ll receive an email.
- And…voilà! Your company’s idle crypto just got put to work.
Note: You’ll earn different fees depending on which token you’ve selected. Stablecoins typically earn you more (up to 15% p.a.) than BAT (less than 1% p.a.)
Can I trust Multis and Compound to lend my company’s crypto?
Multis is not an intermediary. We never hold your keys, so you have nothing to worry about (other than losing your key 😬). We’ve written more on this topic here. With the Compound integration, loans are also decentralized, which means you’re in control of your funds 🔐
Withdraw crypto 24/7
Your company’s crypto is supplied to a pool (through Compound’s protocol), not a specific borrower. The protocol is designed to maintain excess liquidity at all time, which means that you can withdraw your crypto whenever your company needs it 🏄
Avoid credit risk
Borrowers are overcollateralized. In other words, defaults will not impact your principal and you still get to earn interest. Now, let’s say that ETH prices drop significantly: the protocol is designed to liquidate automatically loans before you’re at risk, to make sure you recover your company’s crypto in full 👌
Multis and Compound
Multis is driven by one objective: help companies and teams thrive in a decentralized world. This starts by helping them make the most out of their crypto conveniently (even while they sleep 😴), so they can focus on building amazing products.
The Compound team has been pioneering the DeFi space since the early days and their smart contracts currently lock over $50m worth of crypto. They’re on a mission to build a more open and transparent financial system, and we’re super proud to contribute to it 💪
This is just the beginning
In a few days, we’ll also be announcing the launch of our fiat ramp. Why is that a big deal? Any company will be able to convert euros and dollars to stable coins, and yield 5x more interest than with traditional savings accounts…stay tuned 🤩