Tangem, a pioneering Swiss company known for its NFC-based hardware wallets, has announced the launch of a new feature called “Yield Mode” within its app. This innovative addition enables users to generate real-time yield from idle stablecoins by seamlessly integrating with Aave, the leading decentralized finance (DeFi) liquidity protocol that boasts over $60 billion in net deposits.
The Yield Mode feature allows users to maintain full control over their assets while earning yield. Activating this feature is as simple as completing a single hardware-secured transaction, which automates all future deposits to Aave. This automation ensures that users earn yield automatically, with the accumulated rewards added to their balance in real time. Notably, users’ funds are never locked; they can send, swap, or withdraw their assets and any earned rewards instantly, at their convenience. The feature operates on an audited smart contract, upholding the principles of non-custodial finance and ensuring that user assets remain isolated from third-party access.
Andrey Lazutkin, CTO of Tangem, emphasized the significance of this development, stating that users have long awaited a means to leverage their assets. He highlighted how Tangem has created a user-friendly experience akin to that of a neobank, allowing individuals to access onchain yield directly—a capability not typically offered by traditional financial systems.
Stani Kulechov, Founder of Aave Labs, echoed this sentiment, noting that the integration combines two essential elements of onchain finance: self-custody and yield. He praised the simplicity and security of earning onchain yield, reinforcing that users can now make their assets work for them while remaining fully in control.
The Yield Mode feature is now available in the latest version of the Tangem Wallet app. Tangem, founded in 2017, has been dedicated to making self-custody straightforward and secure. The company offers innovative NFC-enabled hardware wallets, presented in the form of cards and rings, and provides options for both seedless security and traditional seed phrase backup. With a user-friendly app, Tangem facilitates easy access to a diverse range of crypto services.
Aave, on the other hand, stands as the largest and most trusted DeFi network worldwide, providing a platform for users to deposit crypto or stablecoins to earn yield, borrow against assets, and save securely. It operates transparently through blockchain smart contracts, which eliminates the need for banks and paperwork while offering 24/7 accessibility.
This collaboration marks a significant step in enhancing user experiences within the DeFi space, empowering individuals to maximize their asset potential without compromising security or control.
