How does UGLYCASH get such a high Annual Reward percentage?
When members transfer funds to UGLYCASH, those funds are moved under our custody on eUSD Stablecoin, always 100% backed-up. Unlike banks, we DON'T work with a fractional reserve system.
The Rewards we provide are financed with our own resources, meaning they come from our income as a Company, and we decide to share them with our users as part of the Rewards Program.
More info? 🤓
More info? 🤓
A part of UGLYCASH's income comes from the Income Sharing Program for Fintechs launched by Reserve Protocol and the eUSD governors, which allows us to get part of the income generated by their platform to contribute to the growth of the Stablecoin eUSD use.
Since UGLYCASH joined the program, as more users trust the app for their funds, our eUSD grows, which increases our income and allows us to offer our users more attractive rewards, like the actual 8%.
How does UGLYCASH generate income by having eUSD under their custody?
eUSD is completely backed by Stablecoin loan positions that generate a return.
The return comes from loan protocols like Aave and Compound. At the moment, Compound keeps $2.9 billion in warranty through 17 markets, while Aave counts $34 billion in blocked liquidity in 13 markets.
UGLYCASH's Edge: Uniting Traditional & Digital Finance 🚀
UGLYCASH combines the familiarity of a traditional saving experience with the benefits of the Decentralized finance yield opportunities
With this new characteristic in our app, users get:
Traditional Banking and High Rewards: As UGLYCASH gives you a Virtual Account to receive transfers from the U.S. and a Visa card, it also grants you access to Rewards on your digital dollar (eUSD) balance Rewards.
Instant Liquidity: You can get Rewards on your balance without sacrificing access to your money. You can spend or withdraw your balance anytime.
Competitive 8% annual Rewards: This rate significantly surpasses traditional savings accounts, leveraging the power of decentralized finance while maintaining the stability of USD-pegged assets.
eUSD stability: Your Rewards are in eUSD, a Stablecoin designed to maintain a 1:1 parity with the U.S. dollar, providing stability and familiarity with the traditional currency.
Where do the Rewards come from?
Recently, the governors of eUSD launched a revenue-sharing program for fintech companies that contribute to the growth of eUSD’s usage and market capitalization.
UGLYCASH has joined the program, allowing us to receive a part of the income generated by the funds of the platform.
UGLYCASH is a loyalty program funded with its own resources. The program is designed to incentivize our members to use UGLYCASH's services.
We don't take any actions with your actives unless you specifically instruct us or approve us to do so.
Where can I find more info about eUSD?
Visit our FAQ about eUSD to get more info!