Tangem, the Swiss-based developer known for its NFC-based hardware wallets, has unveiled a new feature called “Yield Mode” within its app, allowing users to earn yield on their idle stablecoins seamlessly and directly. This innovative feature is integrated with Aave, the leading decentralized finance (DeFi) liquidity protocol, which boasts over $60 billion in net deposits.
Yield Mode provides a unique opportunity for users to generate earnings while maintaining complete control and liquidity over their assets. By activating this feature through a single transaction that is secured by hardware, users can automate all future deposits to Aave. The system is designed to credit yield in real time to the user’s balance without requiring any claims, ensuring that funds are never locked in. Users retain the ability to send, swap, or withdraw their assets, including any accumulated rewards, instantly.
The feature operates on an audited smart contract, reinforcing Tangem’s commitment to security and ensuring that user assets remain non-custodial and isolated from third-party access. According to Andrey Lazutkin, CTO at Tangem, this feature meets user demand for a way to utilize their assets efficiently while maintaining security. He emphasized that Tangem aims to offer a “neobank” experience that traditional financial institutions cannot replicate.
Stani Kulechov, the Founder of Aave Labs, echoed this sentiment, highlighting the integration of self-custody and yield as vital components of onchain finance. He underscored the feature’s potential to simplify and secure the earnings process for users while allowing them to retain complete control over their assets.
Yield Mode is now available in the latest version of the Tangem Wallet app, enhancing the functionality of Tangem’s products, which include NFC-enabled hardware wallets that prioritize self-custody in a user-friendly manner. Established in 2017, Tangem strives to make secure self-custody accessible to everyone.
Aave, in partnership with Tangem, continues to solidify its status as the world’s largest and most trusted decentralized finance network. With its dynamic offerings that encompass lending, borrowing, and savings, Aave remains at the forefront of the evolving landscape of onchain finance.
