Are financial products provided by MYKEY Lab?
No. All financial products are provided by third parties, including decentralized finance, centralized finance (planned), and pledged mining (planned). MYKEY Lab is only responsible for displaying financial products and all relevant data is obtained from smart contracts or project interfaces. The assets for users to buy financial products are directly entered into the financial product account, without going through the account of MYKEY Lab.
How to invest?
MYKEY aggregates high-quality blockchain financial products to provide a one-stop financial experience. Enter Assets page, open Invest section, select your favorite financial products, read the introduction, save the corresponding tokens, and start earning token interest.
What are the costs of Financing?
Only transfer costs of assets in and out are paid in network fees.
How to get tokens for Financing?
You can find related dapps in Exchange classification of MYKEY App, such as MyOTC.
Is Financing safe with MYKEY?
MYKEY is a decentralized smart wallet and does not keep user assets in a centralized manner. Users' assets directly enter smart contracts (decentralized financial management), custodian accounts (centralized financial management), or blockchain underlying systems (pledged mining financial management).
What risks do I have?
Every investment has risks. There are two types of risks in decentralized financial products: price risk and systemic risk.
Price risk: The expected rate of return of financial products is calculated based on the invested tokens.
Systematic risk: Financial products rely on the stable operation of blockchain and smart contracts. Although the blockchain has been operating stably for several years and smart contracts have been subject to security audits, there may still be security vulnerabilities. MYKEY will provide early warning of such risks to ensure the safety of user assets.
What is Decentralized Finance (DeFi)?
Decentralized Finance is to realize the business of traditional centralized financial institutions on the blockchain by using the blockchain smart contract technology, such as central banks, commercial banks, insurance, etc, and has the characteristics of no access, no initial capital threshold, 7*24 with the deposit and withdraw.
What is the difference between MYKEY Financing and using DeFi directly?
The returns of buying financial products in [Invest] of MYKEY and DeFi official websites are the same. MYKEY has also optimized the operation interface, network and contract calls to provide the best financial experience. Users who have used DeFi before can continue to view and use in [Invest] of MYKEY.
Where does DeFi Financing returns come from?
The returns of MYKEY DeFi activity financial products are much higher than Yu'E Bao and the financial return comes from the interest paid by the borrower. The volatility of the cryptocurrency market is much higher than that of traditional finance and the demand of borrowers will bring higher financial returns.
What is Compound?
Compound is an algorithm-based currency market protocol built on Ethereum that allows users to earn interest or mortgage assets, which is a P2P mortgage lending platform for cryptocurrency. Anyone can provide assets to the Compound liquidity pool and immediately start earning consistent interest or lend and pay interest on Compound mortgage assets.
The interest rate is automatically adjusted according to the supply and demand of the capital pool, and the lender's return comes from the interest paid by the borrower.
Official Website: https://compound.finance/
What is Oasis?
Oasis is a decentralized dapp that runs on Ethereum and is the public lending and trading market for MakerDAO, the world's leading mortgage lending product. Anyone can use Oasis to transfer tokens, lend and earn interest with Dai.
The interest rate is adjusted based on the results of the MKR governance vote, and the lender's return comes from the interest paid by the borrower.
Official Website: https://oasis.app/