Interest / Reward rates
When you deposit coins to Earnpark and earn up to 25% APY, you gain interest. The minimal deposit term is one day and the maximum is unlimited. Your Earnpark Interest Account works as a bank deposit and enables you to earn up to 25% annual interest just for depositing supported assets.
Your deposits earn daily interest. Just by depositing your crypto, the earnings payout will arrive in your account every day on a 24-hour basis.
Sometimes due to technical reasons payments can be delayed, be assured we are already working on it.
Yes, the interest is paid in the currency of your deposit.
Earnpark makes interest payments in the original currency of your deposit. If you deposit ETH, you get paid in ETH.
First, divide your deposit’s annual percentage rate (APR)* by 365 to determine the amount of interest that accrues on a daily basis.
Say you owe 10,000 USDC tokens with 20% annual interest. You'd divide that rate by 365 (0.2 ÷ 365) to arrive at a daily interest rate of 0.0005479452055, which is approximately 5.5 USDC per day.
An annual percentage rate (APR) is the yearly rate earned by an investment. APR shouldn't be confused with APY (annual percentage yield), a calculation that takes the compounding of interest into account.
Compound interest means that we add the interest you earn to the principal deposit amount for you to earn interest on reinvested interest. The longer you hold your asset on your Interest Account, the more you get on the previously accumulated interest.
They can. We will continue iterating (increasing and decreasing) rates based on the market. This is the necessary instrument to sustain our system’s health.
However, we strive to offer the highest possible profitability for our clients, keeping the rate the highest in the market. At the very least, we will warn you about the decline before the start of next month. The ultimate goal is to keep APY maximum and unchanged.