BenPay official

TL;DR｜Key Points on Earning with DeFiThe essence of DeFi earning: earning market-driven returns by providing liquidity, lending assets, or contributing to network security.Main methods include staking, lending, and liquidity mining.Returns are driven by real demand, while risks mainly involve smart contract vulnerabilities, price volatility, and operational complexity.Compared to traditional finance (TradFi), DeFi earning requires no intermediaries, allows self-custody of funds, offers real-time interest accrual, and enables flexible strategy combinations.For beginners, using a DeFi yield aggregator (such as BenPay DeFi Earn) offers a friendlier, low-barrier entry into DeFi participation.
In the traditional financial world, our money often sits idle in low-yield savings accounts while banks profit handsomely from it. DeFi (Decentralized Finance) has fundamentally changed this paradigm, allowing anyone with an internet connection to become the “bank” itself. Through a variety of innovative mechanisms, crypto assets can generate ongoing yields. This guide provides a systematic explanation of DeFi earning mechanics, mainstream strategies, and safe practices using BenPay DeFi Earn as an example, helping you take control of your financial journey.
1. Where Does DeFi Crypto Earn Passive Income, and Is It Safe?
Simply put, every crypto you earn in DeFi is not some “digital illusion.” Like in the real world, returns follow the principle of “those who provide value, earn rewards.” Your yield comes from contributing essential services to decentralized networks, earning clear and transparent market-driven returns.
1.1 Providing Liquidity: Becoming an “Automated Market Maker” and Earning Trading Fees
When you deposit assets (e.g., USDC and ETH) into a liquidity pool, you essentially open an unattended trading window in a “public marketplace” accessible to everyone. Your funds facilitate instant trades for others, keeping the market liquid and efficient. In return, trading fees generated by the pool are automatically distributed proportionally to your contribution. The busier the pool, the higher your share. This transforms idle assets into productive capital, directly participating in market activity.
1.2 Lending Assets: Acting as a “Global Bank” and Earning Interest
You can deposit idle assets such as stablecoins into lending protocols like Compound or Aave. This is akin to placing your funds in a “global bank” operated by code, which lends to those in need. Your interest is determined by real-time supply and demand: more borrowers mean higher rates. Loans are typically over-collateralized and automatically liquidated to control risk, but during extreme market conditions, oracle failures, or network congestion, liquidation may be delayed, posing systemic or bad debt risk.
1.3 Contributing to Network Security: Staking Tokens and Earning Rewards
Blockchains like Ethereum and Solana use proof-of-stake (PoS) mechanisms, relying on token holders to stake assets to secure network operations. When you stake tokens (e.g., ETH), you effectively back the network’s reliability and participate in consensus. Rewards come from block emissions (inflation) and transaction fee sharing. This is both an investment and a contribution to building network infrastructure. Misbehavior or node failures may lead to partial slashing of staked assets.
The Economic Logic Behind DeFi Earnings
Whether from trading fees, lending interest, or staking rewards, DeFi earnings stem from the demand for capital and network services. As long as on-chain transactions, lending, hedging, and asset allocation occur, yield opportunities exist.
However, it is also necessary to understand that when market activity declines and the demand for leverage weakens, the overall return level will also fall in tandem. Therefore, DeFi returns are not fixed-rate products but rather floating returns that change with the market environment.
2. DeFi Earning vs. Traditional Finance: What's the Difference?
In traditional finance, capital efficiency is often constrained by time and procedural limitations. DeFi reconstructs the logic of earning through blockchain technology, transforming idle capital into real-time productive assets. Understanding these differences is key to seizing next-generation financial opportunities.
Traditional Finance (TradFi) is like depositing money in a large, closed reservoir. The flow of water (assets) is strictly controlled by the administrator (bank). You need to apply it to generate electricity from water (earn income), and efficiency depends on the administrator's dispatching speed.DeFi Earning involves placing assets into a transparent and interconnected smart water network. The movement of every drop of water (asset) is clearly visible. You can automatically direct water to the places where it is most needed (such as borrowing and providing liquidity) through smart contracts, receive real-time returns, and freely combine various pipelines (protocols) to maximize the efficiency of water (capital) utilization.
Core Differences3. DeFi Crypto Earn Methods & Beginner-Friendly Options
3.1 Lending – Acting as a “Bank.”
Mechanism: Deposit crypto assets (USDC, ETH) into protocols like Compound or Aave. Your funds enter a pool for borrowers, and you earn floating interest based on market demand. Stablecoins often provide more stable returns.Suitable for: Users seeking cash flow from idle assets and relatively steady strategies.Risks: Smart contract vulnerabilities, liquidation anomalies, liquidity risks during extreme market events.
3.2 Staking – Basic “Deposit Yield.”
Mechanism: Lock specific tokens (ETH 2.0, SOL) in a protocol to validate transactions and maintain network security. Rewards come from block issuance and transaction fee distribution.Suitable for: Long-term holders of major tokens who believe in ecosystem growth.Risks: Lock-up periods, inability to sell during market drops, and smart contract vulnerabilities.
3.3 Liquidity Mining – Becoming a “Market Maker” for Multiple Yields
Mechanism: Deposit two tokens proportionally (ETH/USDC) into a DEX pool (Uniswap, Curve) to provide liquidity. Earn trading fees, protocol incentives, and arbitrage benefits.Suitable for: Advanced users willing to assume market risk for higher combined returns.Risks: Impermanent loss — temporary losses compared to holding assets if price ratios change sharply. Stablecoin pairs reduce impermanent loss but may still face risks from de-peg or protocol failures.
From Single Strategy to Strategy Combination: The Emergence of Yield Aggregators
When mechanisms such as lending, staking, and liquidity mining start to be combined, cross-chain scheduled, and automatically reinvested, a single protocol is no longer sufficient to cover the optimal path. Thus, the DeFi Yield Aggregator came into being. This type of tool enables users to indirectly participate in yield farming without directly engaging in complex operations.

3. DeFi Crypto Earn Methods & Beginner-Friendly Options
3.1 Lending – Acting as a “Bank.”
Mechanism: Deposit crypto assets (USDC, ETH) into protocols like Compound or Aave. Your funds enter a pool for borrowers, and you earn floating interest based on market demand. Stablecoins often provide more stable returns.Suitable for: Users seeking cash flow from idle assets and relatively steady strategies.Risks: Smart contract vulnerabilities, liquidation anomalies, liquidity risks during extreme market events.
3.2 Staking – Basic “Deposit Yield.”
Mechanism: Lock specific tokens (ETH 2.0, SOL) in a protocol to validate transactions and maintain network security. Rewards come from block issuance and transaction fee distribution.Suitable for: Long-term holders of major tokens who believe in ecosystem growth.Risks: Lock-up periods, inability to sell during market drops, and smart contract vulnerabilities.
3.3 Liquidity Mining – Becoming a “Market Maker” for Multiple Yields
Mechanism: Deposit two tokens proportionally (ETH/USDC) into a DEX pool (Uniswap, Curve) to provide liquidity. Earn trading fees, protocol incentives, and arbitrage benefits.Suitable for: Advanced users willing to assume market risk for higher combined returns.Risks: Impermanent loss — temporary losses compared to holding assets if price ratios change sharply. Stablecoin pairs reduce impermanent loss but may still face risks from de-peg or protocol failures.
From Single Strategy to Strategy Combination: The Emergence of Yield Aggregators
When mechanisms such as lending, staking, and liquidity mining start to be combined, cross-chain scheduled, and automatically reinvested, a single protocol is no longer sufficient to cover the optimal path. Thus, the DeFi Yield Aggregator came into being. This type of tool enables users to indirectly participate in yield farming without directly engaging in complex operations.

4. Comparing DeFi Crypto Earn Methods
There are significant differences among various DeFi earning methods in terms of income sources, risk structures, and operational thresholds. Staking is more inclined towards the returns of the network layer. Lending and interest generation rely on the supply and demand of the capital market. Liquidity mining is part of yield cultivation, and its returns are tied to market activity. The yield aggregator integrates multiple yield sources through automated strategies, lowering the operational threshold for users to participate in complex strategies.
To have a more intuitive understanding of the income structure and risk levels of different methods, you can refer to the following table:

5. Why Beginners Should Use Aggregators
With more protocols and complex strategies, single protocols are insufficient to capture optimal yields. Users would otherwise need to frequently shift funds across chains and protocols — essentially performing “yield farming.” Core challenges include:
Multi-chain wallet managementHigh Gas feesProtocol selection complexityDifficulty in risk diversification
DeFi yield aggregators address these challenges, allowing beginners to participate with reduced operational complexity and risk.
6. BenPay DeFi Earn: Redefining DeFi Participation
BenPay DeFi Earn is a DeFi yield aggregator that integrates top multi-chain protocols, offering low-barrier, strategy-based auto-compounding stablecoin yields. Its streamlined design consolidates multiple protocols into a single entry point, letting users enjoy on-chain yields safely and conveniently without deep technical knowledge.
6.1 Core Pain Points in DeFi Participation& BenPay Solutions
Traditional DeFi requires managing multiple wallets, understanding complex strategies, paying for gas fees, and monitoring market risks — demanding time, knowledge, and creating operational barriers. BenPay simplifies this through:
Simplified Operations: One-click BenPay self-custodial wallet creation with Apple/Google accounts; no long mnemonic backups or complex wallet setups.Protocol Aggregation: Seamless access to Solana, AAVE, Compound, Morpho, Sky, Ethena, and other top protocols without switching interfaces.Cost Optimization: Core operations are exempt from gas fees, lowering costs, especially for small holders.
6.2 How to Participate in DeFi Earnings on BenPay
BenPay simplifies the complex on-chain asset allocation into four clear and simple steps, truly realizing the vision of "zero-basis participation in DeFi".
Connect Wallet: Create a BenPay wallet via Google/Apple account.Deposit Assets: Choose stablecoins and deposit across 10+ chains (Ethereum, Solana, Tron, BSC, Polygon, Arbitrum, Optimism, Base, etc.).Earn Yield: Select an amount and review protocol terms; yields settle daily, fully transparent.Partial Redemption: Withdraw fully or partially according to protocol rules.
All backend complexities — cross-chain transfers, gas fee payments, auto-compounding — are handled by audited smart contracts, giving users a simple interface and relatively stable returns without technical burden.
6.3 Safe Steps for Beginners
Understand First: Recognize BenPay as an aggregator; yields come from underlying protocols and are market-dependent.Start Small: Try with a small amount (e.g., $100) to experience connection, deposit, and yield monitoring.Choose Strategies Carefully: Initially favor more stable protocols with moderate APY fluctuations.Observe Long-Term: Monitor yield trends and asset changes, and gradually adjust allocations.

Conclusion: From User to Network Contributor
DeFi earning transforms participants from passive “depositors” into active market builders and value sharers. It represents the democratization of finance, but requires knowledge and caution. BenPay DeFi Earn exemplifies a key evolution: moving from tech-driven experimentation to user-focused, secure, and stable products. By removing technical barriers, it makes on-chain asset allocation simple and accessible.
For beginners, success lies not in chasing the highest APY, but in understanding risks, verifying processes, starting small, and learning continuously. Taking that first step means you are not only earning yield but contributing to the evolution of on-chain financial infrastructure.

Risk Disclaimer
DeFi yields stem from on-chain financial activity and are not principal-protected products. Risks include smart contract bugs, protocol anomalies, stablecoin de-pegging, extreme market volatility, and network congestion. Yield aggregator products, while improving usability, also expose users to underlying protocol risks. Users should fully understand mechanisms, assess personal risk tolerance, and take responsibility for on-chain operations.

#defi

Unitas, AAVE, Compound, Morpho, Sky, Ethena Protocols Stablecoin Yield Analysis and Risk Guide
As the DeFi (Decentralized Finance) ecosystem matures, stablecoin yields have become an important way for users to participate in on-chain finance and grow their assets. Unlike high-volatility assets, stablecoin yield products typically rely on lending interest, protocol savings rates, or market-neutral hedging strategies, allowing users to earn sustainable returns while controlling volatility.
This article analyzes the three leading DeFi stablecoin yield protocols — Unitas, AAVE, Compound, Morpho, Sky, and Ethena — and introduces how to access them through BenPay DeFi Earn, a one-stop platform for cross-chain management and yield aggregation.
A Quick Overview of DeFi Protocols: Yields, Risks, Liquidity, Etc

What risks need to be noted?All DeFi stablecoin yield protocols are subject to risks such as smart contract, liquidation, and strategy risks. The sources of risk vary among different agreements. This article only provides mechanism analysis and does not constitute any commitment to returns.

In-Depth Analysis of Mainstream DeFi Protocols
Is Unitas Stablecoin Yield Safe? Analysis of Composite Strategic DeFi Protocol
The Unitas protocol offers an innovative USD-denominated yield mechanism on the Solana network, primarily driven by a market-neutral strategy.
Source of Yield
Unlike traditional bank interest, Unitas yield is generated through a proprietary on-chain yield engine designed to capture trading-based returns:
Delta-Neutral Arbitrage: The protocol operates using Jupiter Liquidity Provider (JLP) pools. It deposits JLP as collateral while simultaneously opening an equivalent short position in the perpetual futures market.Funding Rate Capture: Through its delta-neutral positioning, Unitas locks in perpetual futures funding rate income, converting market trading demand into yield for stablecoin holders.Liquidity-Driven Returns: Additional yield comes from trading fees and arbitrage opportunities generated by market volatility. As a result, returns are decoupled from asset price movements and are instead positively correlated with overall market activity.
Yield Features
High Annualized Returns: In 2025, Unitas achieved an annualized yield of approximately 16.7%.Market Neutrality: The yield engine is designed to neutralize price volatility risk. Regardless of bull or bear market conditions, the protocol can continue generating returns as long as trading activity exists.Native Yield Accrual: Users simply hold Unitas stablecoins in their Solana wallets to receive yield distributions natively, without relying on traditional financial intermediaries.
Risk & Liquidity
Low Drawdown Risk: With modular risk controls and real-time monitoring, the protocol recorded a historical maximum drawdown of only -0.16% during volatile market conditions in 2025.Liquidity Protection:Overcollateralized Reserves: Backed by 130%–200% over-reserves in major stablecoins such as USDT and USDC.Permissionless Redemption: Users can freely and unconditionally redeem Unitas stablecoins for underlying USD stablecoins at any time.
How Is the Yield of the AAVE Protocol? Analysis of a Traditional Lending DeFi Protocol
Compared to Unitas’s more complex market-neutral strategy, Aave’s USDT/USDC yield mechanism—available on Solana, Ethereum, and other chains—is more traditional and straightforward.
Source of Yield
Pool-to-Peer Lending Interest:
All yield comes from interest paid by borrowers. When you deposit USDT or USDC, you provide liquidity to a lending pool. Borrowers lock up other assets (such as SOL or ETH) as overcollateralized collateral to borrow stablecoins and pay interest.Liquidation Penalty Sharing:
When a borrower’s collateral value drops and triggers liquidation, a portion of the liquidation penalty is distributed to the protocol and liquidity providers.
Yield Characteristics
Variable Market-Driven Returns:
APYs fluctuate in real time based on supply and demand in the lending market.High-Demand Periods: During bull markets or periods of strong leverage demand, USDT/USDC yields can spike (historically exceeding 20% for short periods).Normal Conditions: As of January 2026, typical annualized yields range between 2.5% and 3.6%.Transparent & Passive:
No user intervention is required. Yield accrues automatically per block and compounds over time.
Risk & Liquidity
Bad Debt Risk:
Although loans are overcollateralized, extreme market conditions combined with delayed liquidations could result in bad debt.Smart Contract Risk:
As a long-established protocol, Aave has a strong security track record, but theoretical risks of code vulnerabilities still exist.Safety Module Protection:
Aave maintains a Safety Module in which staked AAVE tokens serve as an insurance backstop against potential shortfalls.Very High Liquidity:
Users can usually withdraw funds at any time.Utilization Constraints:
Withdrawals may experience short delays only when pool utilization is extremely high (i.e., nearly all funds are borrowed), until borrowers repay or new deposits enter the pool.
How Does Compound Generate Stablecoin Yield? A Pool-Based Lending DeFi Protocol Explained
The Compound protocol is built on a traditional pool-based lending model, where yields are entirely driven by market demand for stablecoins rather than complex trading strategies.
Yield Sources
Borrower Interest Payments: When you deposit USDC or USDT into the Compound protocol, your assets are placed into a liquidity pool. Returns primarily come from borrowers—often seeking leverage or liquidity mining opportunities—who pay interest to borrow these stablecoins.COMP Token Incentives (Occasionally): Historically, Compound has distributed its governance token, COMP, to incentivize deposits and borrowing. During certain periods, these rewards significantly boosted effective yields.
Yield Characteristics
Floating Market Interest Rates: Interest rates automatically adjust in real time based on supply and demand within each pool.Current Yields (January 2026): Typically fluctuate between 2% and 4%.Extreme Scenarios: During periods of severe market volatility and surging borrowing demand, annualized yields can temporarily exceed 20%.cTokens: After depositing assets, users receive corresponding cTokens (e.g., depositing USDC yields cUSDC). The value of cTokens increases over time as interest accrues, representing both principal and earned yield.
Risk & Liquidity
Risks:Smart Contract Risk: Despite multiple audits and a long operating history, smart contract vulnerabilities remain a theoretical risk.Liquidation Risk: While loans are overcollateralized, sharp market crashes may prevent liquidation mechanisms from fully covering losses.Governance Risk: Protocol parameters are determined by COMP token holders through governance votes, which may affect future yield models or risk settings.Liquidity:High Liquidity: USDC and USDT markets generally maintain strong liquidity, allowing users to withdraw most funds at any time.Utilization Constraints: Similar to Aave, when most liquidity is borrowed, withdrawals may face short waiting periods.
Is Morpho Stablecoin Yield Safe? Analysis of the Lending-based DeFi Protocol Mechanism
Morpho is a decentralized lending infrastructure deployed on Ethereum. Its core module, Morpho Blue, provides highly customizable lending markets, while the Morpho Vault wraps this functionality for regular users, offering automated fund allocation and risk parameter management.
Source of Yield
Lending interest income: When users deposit funds into a Morpho Vault, the funds are automatically allocated to over-collateralized lending markets. Borrowers’ interest payments form the main source of yield.Different vaults are managed by third-party Risk Curators (e.g., Steakhouse, Gauntlet), who set lending parameters and risk constraints. Funds, however, are always executed by smart contracts according to these rules.
Yield Features
Accumulating share design: Vault shares increase in value as interest accrues (similar to wstETH), naturally achieving compounding without manual reinvestment.Parametric risk control: Strict Loan-to-Value (LLTV) ratios and liquidation mechanisms help mitigate defaults and extreme market events.
Risk & Liquidity
Smart contract risk: The protocol has undergone multiple audits but remains theoretically subject to contract risk.Liquidity and redemption: Users can redeem USDC or USDT immediately, provided the Vault has sufficient liquidity.
Sky Stablecoin Yield Mechanism: Is SSR Savings Rate Reliable?
Sky Protocol (evolved from the original MakerDAO system) issues the stablecoin USDS and provides an official savings mechanism via the Sky Savings Rate (SSR). Users who deposit USDS into SSR receive sUSDS, an accumulating certificate that grows automatically over time.
Source of Yield
Sky Savings Rate (SSR): Yield comes from the protocol’s overall operational revenue, including on-chain lending fees, protocol surplus, and real-world asset income (e.g., U.S. Treasury yields).SSR rates are determined and dynamically adjusted by Sky Governance.
Yield Features
Net-value growth asset: The quantity of sUSDS remains constant, but the amount of USDS redeemable increases over time.Stable performance: Compared to market-driven lending rates, SSR typically exhibits low volatility, suitable for conservative, long-term allocations.
Risk & Liquidity
Protocol and governance risk: Yield depends on Sky protocol operations and governance decisions.High liquidity: sUSDS can typically be redeemed for USDS anytime via official interfaces or DeFi markets, with no fixed lock-up.
Where Does Ethena USDe Stablecoin Yield Come From? Analysis of Strategic DeFi Protocols
Ethena USDe is a synthetic dollar (USDe), not backed by fiat reserves. It maintains relative stability through a Delta-Neutral (market-neutral) strategy.
Source of Yield
Hedged funding rates: The protocol holds spot assets while simultaneously taking hedged positions in derivatives markets. In markets where long positions dominate, short positions earn positive funding rates.sUSDe holder returns are reflected through the accumulation of value rather than periodic distributions.
Yield Features
Market sentiment correlation: Yields may increase during high-leverage, active long-market conditions and may decrease in extreme scenarios.Non-fixed income model: This is a strategy-based stablecoin yield, not traditional lending interest.
Risk & Liquidity
Negative funding rates & extreme market risk: Prolonged negative funding rates may reduce yield. Redemption typically involves a cooling period of around 7 days, though USDe itself can be traded instantly on DEXs (subject to potential slippage).
User Types and Protocol Recommendations
If you are seeking stable, low-volatility stablecoin yields, Sky, Morpho, AAVE, and Compound protocols are more suitable. If you are willing to accept some market fluctuations for potentially higher returns, the Unitas protocol is a good choice. If you can tolerate market sentiment–related risks, the Ethena protocol may offer the highest returns.

BenPay DeFi Earn: One-Stop Stablecoin Yield Gateway
If you have already understood the yield logic of Unitas, AAVE, Compound, Morpho, Sky, and Ethena protocols, the real challenge lies in: How to efficiently switch between different chains, different stablecoins, and different redemption rules?
For ordinary users, DeFi protocols are numerous, and the operations are complex. BenPay DeFi Earn, built on the BenFen public chain, condenses these operations into a single click, providing direct access to Morpho, Sky, Ethena, and other major protocols with transparent, on-chain yields.
Key Features
One-stop access: Unified entry to Morpho / Sky / Ethena / Aave / Compound / Solana for diverse yield options.Cross-chain convenience: Deposit BUSD (BenFen's core asset, pegged 1:1 to USD, minted via USDT/USDC) to automatically convert to the target protocol's stablecoin and redeem cross-chain.Auto-compounding: Yields automatically roll into principal with zero gas reinvestment.Risk control: Assets remain on-chain, fully under user control.Flexible redemption: Partial withdrawals are supported to optimize fund usage.
All Investment Targets Overview
A. SOL USD Investment
View Unitas Official Website
This investment target is based on the Unitas protocol, which runs a sophisticated trading strategy on Solana designed to isolate market price fluctuations and capture yield.
Core Mechanisms & Advantages:
Market-Neutral Strategy: Unitas uses hedging to reduce dependency on price movements of assets like SOL, generating yield primarily from market activity rather than directional price changes.On-Chain Trading Fee Income: A portion of the protocol’s funds is deployed to provide liquidity on major Solana ecosystem trading platforms, earning continuous trading fee revenue.Funding Rate Income: Unitas simultaneously opens opposing positions in derivative markets to hedge market volatility while capturing funding rate income generated by long–short market structures.
By combining these two relatively uncorrelated income sources—trading fees and funding rates—Unitas creates a more stable and predictable yield model. Compared with a model relying solely on lending interest, it adapts better across different market environments.
B. AAVE USDC/USDT Investment
View Official Website: AAVE USDC / AAVE USDT
This investment target is based on AAVE, a decentralized lending protocol deployed across multiple major blockchains.
Core Mechanisms & Advantages:
Open Liquidity Lending Market: Your assets continuously grow within an open liquidity market.Real Lending Interest Yield: AAVE operates like a transparent digital bank. When you deposit stablecoins, they become part of the global liquidity available for borrowers, including traders and dApps. In return, interest paid by borrowers is distributed to all depositors.Dynamic Interest Rates: Rates are determined by market demand; the higher the borrowing demand, the higher the deposit yield, which automatically compounds into your asset growth.
C. Compound USDC/USDT Investment
View Official Website: Compound USDC / Compound USDT
This investment target is based on Compound, a well-established decentralized lending protocol deployed across Ethereum and other blockchains.
Core Mechanisms & Advantages:
Asset Shares Appreciate with the Pool: When you supply assets to Compound’s lending market, you receive a portion of the pool as your “shares.”Interest Accrual: As borrowers continuously pay interest, the total value of the pool grows. Your share percentage remains the same, so the value of your portion increases proportionally, automatically compounding over time.
D. Morpho USDC Investment
View Official Website: Morpho USDC
The underlying layer of this target is a lending vault connected to the Morpho protocol, a new-generation, efficient fund-matching system on Ethereum.
Core Mechanism and advantages:
Institutional-grade vault management: Professional institutions manage and allocate funds.Real borrowing demand: Allocated to whitelisted institutional borrowers or DeFi protocols; yield comes directly from borrower interest.Share appreciation: Vault shares increase as interest accrues, no manual compounding required.
E. Morpho USDT Investment
View Official Website: Morpho USDT
The underlying layer of this target is connected to the Morpho protocol's lending vault. Through intelligent algorithms, funds are lent to over-collateralized institutional borrowers to achieve stable lending returns.
Core Mechanism and advantages:
Borrowing interest: Yield comes entirely from real borrower interest; may increase when market demand rises.Preferred collateral: Managed by Gauntlet using risk models to accept high-liquidity collateral.Dynamic allocation & real-time accrual: Smart contracts continuously monitor market, ensuring full collateral for each loan; interest accrues per block automatically.
F. Sky USD Investment
View Official Website: Sky USD
This underlying asset is connected to the official savings system of the Sky protocol (formerly MakerDAO) and is widely regarded as a cornerstone earning solution in the DeFi stablecoin system.
Core Mechanism and advantages:
Protocol surplus distribution: Revenue from US Treasuries and on-chain lending is distributed via SSR.Accumulating certificate: sUSDS automatically increases redeemable value over time.Stable, long-term allocation: Backed by real-world assets and mature DeFi risk management.
G. Ethena USDe Investment
View Official Website: Ethena USDe
The underlying source of this target is the Ethena protocol, which issues a "Synthetic Dollar". This income plan does not rely on the traditional lending market but achieves stable rate income through precise hedging trading strategies.
Core Mechanism and advantages:
Delta-Neutral strategy: Buy spot + sell futures to hedge price risk, earning funding rate.Multiple yield streams: Fee income + staking rewards from underlying Ethereum assets.
Note: Protocols have undergone multiple audits, but on-chain contracts still carry technical risk. Users should evaluate carefully.
Operation Overview
Deposit BUSDCross-chain conversion to the target protocol stablecoinAuto-deposit into Vault / contract / strategy poolYield accrualRedeemAAVE / Compound / Morpho / Sky: instantSolana / Ethena: Approximately 10-day redemption cycleAutomatic cross-chain conversion back to BUSD
For detailed steps, you can visit the BenPay DeFi Earn user guide.
BenPay DeFi Earn — Quick Overview of Stablecoin Yield Targets
The following table provides a quick comparison of the stablecoin yield strategies currently available through BenPay DeFi Earn.

*APY is indicative based on historical data; actual yields depend on real-time on-chain performance and are not guaranteed.

If you wish to uniformly manage the returns of stablecoins without frequently switching blockchains and protocols, you can participate in the above strategies in one stop through BenPay DeFi Earn. The entire process is on-chain transparent, and income is automatically compounded.
Summary
With BenPay DeFi Earn, users can flexibly allocate between infrastructure type (AAVE/Compound), conservative (Sky / Morpho), strategic (Ethena), and composite strategic (Unitas) DeFi protocols according to their risk appetite. The entire process is on-chain transparent, cross-chain simplified, non-custodial, enabling participation without mastering complex DeFi operations.

Risk Notice: This article is for informational purposes only and does not constitute investment advice. DeFi protocols carry smart contracts and market risks; users should evaluate independently before participation.

#BenPay #defi

Wenn Sie nach einer sichereren Möglichkeit suchen, auf On-Chain-Renditen zuzugreifen und dabei Risiken wie Token-Preisvolatilität, komplexe DeFi-Mechaniken und hochriskante Assets mit langen Laufzeiten zu vermeiden, sind Sie nicht allein. Die meisten Benutzer wollen konstante Renditen, ohne ihre Vermögenswerte instabilen Renditen oder undurchsichtigen Protokollrisiken auszusetzen. BenPay DeFi Earn wurde speziell für dieses Bedürfnis entwickelt – es bietet eine sicherheitsorientierte Möglichkeit, auf On-Chain-Renditen mit vereinfachten Abläufen zuzugreifen.
Warum traditionelle DeFi-Renditen für die meisten Benutzer riskant sind
Traditionelle DeFi-Renditeprodukte basieren oft auf volatilen Governance-Token und Liquiditätsanreizen, was die Benutzer ständigen Preisänderungen und dem Risiko eines vorübergehenden Verlusts aussetzt.

Eine detaillierte Erklärung des Selbstbesitz- und Fondsicherheit-Mechanismus von BenPay
Die Sicherheit einer On-Chain Yield Card hängt grundlegend von drei Elementen ab: ob Vermögenswerte im Selbstbesitz des Nutzers sind, ob Geldflüsse vollständig on-chain verifiziert werden können und ob die Ertragsstrategie aus sicheren und transparent kuratierten Protokollen stammt. Die BenPay On-Chain Yield Card erreicht die Vereinigung von sicherer Ertragsgenerierung und sofortigem Ausgeben durch ihre "Selbstbesitz"-Architektur und die automatisierte Ausführung von On-Chain-Smart-Contracts, während sie die absolute Kontrolle der Nutzer über ihre Vermögenswerte gewährleistet. Dieser Artikel zielt darauf ab, das Sicherheitsdesign der BenPay On-Chain Yield Card objektiv zu analysieren, einschließlich ihrer Selbstbesitz-Prinzipien, Smart-Contract-Garantien und der Risikokontrolllogik hinter ihren kuratierten Ertragsstrategien.

Sind Krypto-Ertragskarten sicher? Woher kommt der Ertrag? Beeinflusst das Ausgeben die Einnahmen? Gibt es versteckte Gebühren?
Mit dem Aufkommen von Krypto-Ertragskarten beginnen immer mehr Benutzer, Möglichkeiten zu erkunden, um On-Chain-Erträge aus ihren Krypto-Assets zu generieren, während sie diese für alltägliche Ausgaben verwenden. Für Erstbenutzer sind jedoch die wichtigsten Fragen nicht, ob sie "verdienen können", sondern ob der Ertragsmechanismus transparent ist, die Risiken kontrollierbar sind und die Kosten klar offengelegt werden.
Dieser Artikel erläutert die wichtigsten Überlegungen, die Anfänger verstehen müssen, bevor sie eine Krypto-Ertragskarte zum ersten Mal verwenden – einschließlich Ertragsquellen, Gebühren, Risiken, Sicherheit und Betriebsablauf – um Ihnen zu helfen, bis zu 90 % der häufigsten Fallstricke zu vermeiden.

Mit immer mehr Händlern und Zahlungsnetzwerken, die Kryptowährungsassets akzeptieren, entwickeln sich Krypto-Zahlungskarten allmählich von "ob sie verwendet werden können" zu "wie man sie effizienter nutzen kann". In diesem Prozess sind Krypto-Cashback-Karten und Krypto-Ertragskarten (auch bekannt als On-Chain-Ertragskarten) zu den zwei am häufigsten verglichenen Produkten durch die Nutzer geworden.
Sie scheinen alle in der Lage zu sein, "Gewinne zu generieren, während sie verwendet werden", aber die wesentlichen Unterschiede sind in den Einnahmequellen, der Risikostruktur, der Vermögenskontrolle und der Zielgruppe sehr offensichtlich. Dieser Artikel wird sich darauf konzentrieren, diese Schlüsselpunkte zu vergleichen und die BenPay-Karte als konkreten Fall für die Analyse zu verwenden.

Einführung
Da sich das DeFi-Ökosystem weiterentwickelt, sind Möglichkeiten, on-chain-Renditen zu erzielen, nicht mehr selten. Was Benutzer wirklich daran hindert, ist nicht das Fehlen von Möglichkeiten, sondern die Hürden beim Eintritt. Undurchsichtige Protokollmechanismen, hochspezialisierte Regeln, unklare Geldflüsse und komplexe operative Schritte schrecken oft ab. Selbst wenn Benutzer erkennen, dass ihre Vermögenswerte effizienter eingesetzt werden könnten, entscheiden sich viele dennoch dafür, abzuwarten oder ihre Mittel über längere Zeit ungenutzt zu lassen.

Während sich Kryptowährungen von einem Investitionsziel zu einem Zahlungsmittel entwickeln, stellt sich eine grundlegendere Frage: Ist die „Krypto-Karte“, die wir in der Hand halten, lediglich ein Ausgabenkanal oder ein selbstwachsendes Vermögenswerkzeug?
Stell dir dieses Szenario vor: Du hast 5.000 USDT auf deiner Karte, die auf deine nächste Geschäftsreise, Hotelbuchung oder tägliche Ausgaben warten. Während dieser 60 Tage, in denen du sie nicht ausgegeben hast, hat sie nichts getan. Das Problem ist nicht, ob du sie ausgibst oder nicht, sondern vielmehr: Diese 5.000 USDT könnten weiterhin verdienen, während sie "darauf warten, ausgegeben zu werden."

Laut Chainalysis wurden im Jahr 2025 Wert von über 3,4 Milliarden US-Dollar an Kryptowährung gestohlen, und die Anzahl der Diebstähle von privaten Wallets stieg auf 158.000 Fälle, hauptsächlich aufgrund von Lecks privater Schlüssel und Problemen zentraler Plattformen. Da Kryptowallets sich von einfachen „Speicherwerkzeugen“ zu integrierten Plattformen für Zahlungen, Vermögensallokation und Zinserzielung entwickeln, gewinnen On-Chain-Yield-Karten zunehmend an Aufmerksamkeit.
Für neue Nutzer bleibt die dringlichste Frage jedoch: Ist eine On-Chain-Yield-Karte sicher? Kurz gesagt, gibt es keine absolute Antwort auf „völlig sicher“ oder „völlig unsicher“. Ihre Sicherheit hängt hauptsächlich von drei Faktoren ab: ob die Mittel selbst verwaltet werden, ob die Erträge on-chain überprüfbar sind und ob die Mittel weiterhin Zinsen erzielen können, während sie vollständig für Zahlungen verfügbar bleiben.

Einführung
Für die meisten Inhaber digitaler Vermögenswerte landen die Gelder normalerweise an einem von drei Orten – und jeder hat klare Mängel:
Auf einem Austausch-Konto aufbewahrt: Bequem zu verwenden, aber Vermögenswerte sind treuhänderisch. Sicherheit und Transparenz bleiben anhaltende Bedenken, und Gelder generieren typischerweise keinen Ertrag.
In einer Brieftasche untätig gespeichert: Vermögenswerte sind sicher, aber einfach „gespeichert“, ohne an On-Chain-Ertragsmöglichkeiten teilzunehmen.
In DeFi-Protokolle eingezahlt: Erträge sind möglich, aber der Prozess ist komplex, und die Risiken sind schwer vorhersehbar. Sobald Gelder eingesetzt werden, sind sie oft schwer für alltägliche Ausgaben zugänglich.

Um Web3-Zahlungen wirklich in den Mainstream zu bringen, ist es entscheidend, nicht nur die Themen "Effizienz und Kosten" anzusprechen, sondern auch die Kontrolle der Benutzer über die "Privatsphäre-Grenzen ihrer digitalen Identitäten" wiederherzustellen. Mit anderen Worten, Privatsphäre ist eine Voraussetzung dafür, dass Zahlungen eine massenhafte Akzeptanz erreichen, nicht nur eine optionale technische Verbesserung.
Das private Zahlungssystem von BenFen Chain ist genau darauf ausgelegt, diese zentrale Herausforderung anzugehen. Basierend auf dem BenFen Chain-Ökosystem ermöglicht BenPay (www.benpay.com) den Nutzern, die BenPay-Karte für tägliche Zahlungen mit geringem Wert zu nutzen – wie z.B. für Essen, Abonnements, Transport und Online-Einkäufe – wodurch Stablecoin-Zahlungen zugänglicher und nahtlos in den Alltag integriert werden. Das System verwendet fortschrittliche MPC-Technologie, um Transaktionsdetails, einschließlich Beträgen, Zeiten, Empfängerinformationen und Adresskorrelationen über Transaktionen hinweg, automatisch zu verbergen. Darüber hinaus führt BenFen Chain einen "selektiven Offenlegungsmechanismus" ein, der es Nutzern ermöglicht, bei Bedarf eine eingeschränkte Transaktionssichtbarkeit für Händler oder Regulierungsbehörden zu gewähren, was ein "verifizierbares, aber nicht zurückverfolgbares" Zahlungserlebnis ermöglicht.

Da Krypto-Zahlungen näher an den alltäglichen Gebrauch rücken, sind Krypto-Karten zu einem praktischen Werkzeug für grenzüberschreitende Ausgaben, Werbezahlungen und Premium-Abonnements geworden. Doch ein langanhaltendes Problem bleibt ungelöst: Geld, das auf einem Kartenkonto sitzt, tut nichts, bis es ausgegeben wird. Diese Ineffizienz ist genau das, was eine On-Chain Yield-Karte lösen soll.
In diesem Leitfaden erklären wir, was eine On-Chain Yield-Karte ist, wie Earn While You Spend in der Praxis funktioniert, das Sicherheits- und Selbstverwahrungsmodell dahinter, reale Implementierungsbeispiele (BenPay) und für wen dieses Produkt am besten geeignet ist.