Tangem has introduced an innovative feature in its Tangem Wallet app, named “Yield Mode,” which is designed to help users maximize the potential of their idle stablecoins. This feature integrates with Aave, widely recognized as the largest liquidity protocol in decentralized finance (DeFi), which boasts over $60 billion in net deposits.
With Yield Mode, users can generate real-time yield on their stablecoins while maintaining complete control over their assets. By activating this feature through a single, secure transaction, users automate future deposits to Aave without losing access to their funds. The mechanism allows for immediate accumulation of yield, which is reflected in the user’s balance almost instantly, eliminating the need for claiming rewards. Importantly, users can still send, swap, or withdraw both their principal and accrued rewards at any time, as no funds are locked within the system.
The introduction of Yield Mode is geared towards addressing the demand from users who seek not just security but also opportunities for growth in their digital assets. Andrey Lazutkin, the CTO at Tangem, emphasized the company’s commitment to user asset security while recognizing the eagerness of customers to utilize their holdings effectively. “We’ve now delivered that by building a seamless experience of a neobank that connects them to Aave’s onchain yield—something traditional finance simply can’t offer,” he stated.
Stani Kulechov, the Founder of Aave Labs, also highlighted the significance of this integration, viewing it as a convergence of essential components in onchain finance: self-custody and yield creation. He remarked that the feature simplifies the process for users, allowing them to earn yield on their assets while retaining complete control.
Tangem’s Yield Mode is now available in the latest version of the Tangem Wallet app, providing users with an easy-to-use interface to tap into the benefits of decentralized finance.
Founded in Switzerland in 2017, Tangem aims to simplify and secure self-custody solutions through its NFC-based hardware wallets, which can take the form of cards or rings. Users have the option to safeguard their assets with either an innovative seedless security method or a traditional seed phrase backup. The combination of these wallets with the Tangem Wallet app allows seamless access to a broad array of crypto services, catering to users’ needs for security and functionality.
On the other hand, Aave continues to lead the DeFi landscape with extensive offerings for lending, borrowing, and saving, enabling individuals to leverage their assets in a transparent and decentralized manner. By merging these capabilities with Tangem’s focus on self-custody, users now have a powerful tool at their disposal to put their funds to work effectively.
