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Analisi dei rendimenti delle stablecoin dei protocolli Unitas, AAVE, Compound, Morpho, Sky, Ethena e guida ai rischi
Man mano che l'ecosistema DeFi (Finanza Decentralizzata) matura, i rendimenti delle stablecoin sono diventati un modo importante per gli utenti di partecipare alla finanza on-chain e far crescere i propri beni. A differenza degli asset ad alta volatilità, i prodotti di rendimento delle stablecoin si basano tipicamente su interessi di prestito, tassi di risparmio del protocollo o strategie di copertura neutrali rispetto al mercato, consentendo agli utenti di guadagnare rendimenti sostenibili mentre controllano la volatilità.
Questo articolo analizza i tre principali protocolli di rendimento delle stablecoin DeFi — Unitas, AAVE, Compound, Morpho, Sky ed Ethena — e introduce come accedervi tramite BenPay DeFi Earn, una piattaforma all-in-one per la gestione cross-chain e l'aggregazione dei rendimenti.

Se stai cercando un modo più sicuro per accedere al rendimento on-chain evitando rischi come la volatilità del prezzo dei token, meccaniche complesse della DeFi e asset ad alto rischio a lungo termine, non sei solo. La maggior parte degli utenti desidera rendimenti costanti senza esporre i propri asset a rendimenti instabili o rischi di protocollo opachi. BenPay DeFi Earn è progettato specificamente per questa necessità: offre un modo sicuro per accedere al rendimento on-chain con operazioni semplificate.
Perché il rendimento tradizionale della DeFi è rischioso per la maggior parte degli utenti
I prodotti di rendimento tradizionale della DeFi spesso si basano su token di governance volatili e incentivi di liquidità, esponendo gli utenti a fluttuazioni di prezzo costanti e al rischio di perdita impermanente.

Una spiegazione dettagliata del meccanismo di custodia autonoma e sicurezza dei fondi di BenPay
La sicurezza di una carta di rendimento on-chain dipende fondamentalmente da tre elementi: se gli asset sono sotto la custodia autonoma dell'utente, se i flussi di fondi sono completamente verificabili on-chain e se la strategia di rendimento proviene da protocolli curati sicuri e trasparenti. La BenPay On-Chain Yield Card raggiunge l'unificazione della generazione di rendimento sicuro e della spesa istantanea attraverso la sua architettura di "custodia autonoma" e l'esecuzione automatizzata di smart contracts on-chain, garantendo al contempo il controllo assoluto degli asset da parte degli utenti. Questo articolo mira ad analizzare obiettivamente il design della sicurezza della BenPay On-Chain Yield Card, coprendo i suoi principi di custodia autonoma, le garanzie degli smart contract e la logica di controllo del rischio dietro le sue strategie di rendimento curate.

Are Crypto Yield Cards Safe? Where Does the Yield Come From? Does Spending Affect Earnings? Are There Hidden Fees?
With the emergence of crypto yield cards, more users are beginning to explore ways to generate on-chain yield from their crypto assets while using them for everyday spending. However, for first-time users, the most important questions are not whether they “can earn,” but whether the yield mechanism is transparent, the risks are controllable, and the costs are clearly disclosed.
This article breaks down the key considerations beginners must understand before using a crypto yield card for the first time — covering yield sources, fees, risks, security, and operational flow—to help you avoid up to 90% of common pitfalls.
What Is a Crypto Yield Card?
A crypto yield card (also known as an on-chain yield card) is a new type of crypto payment product designed around the concept of “earn while you spend.” While retaining the functionality of a traditional crypto payment card, it allows idle balances to participate in on-chain DeFi protocols and generate yield while waiting to be used for payments. Unlike conventional crypto cards—where funds remain idle until spent—crypto yield cards emphasize capital efficiency: assets continue to work instead of sitting unused.
Example: BenPay Self-Custodial Crypto Yield Card
BenPay Yield Card is a Web3 crypto payment card you can earn while you spend, built on self-custodial architecture, with verifiable on-chain yield.
Key features include:
Self-custody Web3 model: users retain private keys, with full control over assetsCard account balances can be activated for earning coins with a single click (requires user initiation)Curated blue-chip DeFi protocols, yielding annualised returns starting from 3% (non-fixed, non-guaranteed)Daily spending does not affect yield-earning status (card account balance used for earning, card balance used for spending)Returns are settled daily with on-chain transparency; automatically compoundable or redeemable at any time
What Do Beginners Care About Most?
For novices encountering crypto yield cards for the first time, the real concern is seldom whether profits can be made, but rather whether the revenue logic is transparent, usage costs are manageable, and potential risks are disclosed upfront. Centred around these core questions, users typically focus on the following aspects:
Do I retain control over my funds?Is the source of returns transparent and reliable?Is it secure, and are there any hidden risks?What are the fees like?Is it straightforward to operate?
Addressing these key points can help newcomers get started safely and avoid pitfalls.
Key Point One: Is the fund self-custodied? This is the first threshold.
The aspect most easily overlooked by novices is control over funds.
Take BenPay Card as an example: it employs a self-custodied Web3 model where users hold their own private keys, granting them complete control over funds with zero platform interference. All fund flows can be verified on-chain, a feature of particular importance for beginners.
Key Point Two: Where does the revenue from crypto mining cards originate? Is it transparent and reliable?
This is the second key point for novices to determine whether a yield-generating card is ‘reliable’. The returns from such cards do not originate from ‘platform distributions’, but rather from on-chain DeFi protocols.
Taking the BenPay Card as an example, once a user activates yield generation, the card account balance participates via smart contracts in security-audited blue-chip DeFi protocols.
It is crucial to emphasise:
Returns are neither fixed nor guaranteedMarket volatility and protocol risks existWhile smart contracts undergo audits, this does not equate to zero risk
Key Point Three: Are crypto mining cards secure? Are there any hidden risks?
It must be made clear that even audited on-chain protocols do not equate to zero risk. Potential risks include:
Smart contract vulnerabilitiesProtocol liquidation or liquidity risksSignificant market volatility
Products such as BenPay explicitly display risk warnings before users activate coin earning, emphasising that returns are neither guaranteed nor assured. Users may choose whether to participate at any time.

Key Point Four: What about the fees? Are there any hidden costs?
The true cost of earning-coin cards extends beyond the annualised yield figures.
A point often overlooked by newcomers is that multiple fees may arise during actual usage, such as:
Gas fees incurred for on-chain transactionsCross-chain deposit or withdrawal costsService fees or monthly charges associated with different card types
Taking the BenPay Card as an example, distinct card variants offer variations in deposit methods, monthly fees, and usage scenarios. With transparent fee structures, users can select the most suitable plan based on their spending frequency and usage requirements.

Key Point Five: Is the operation straightforward? Can novices get started without difficulty?
For novices, even the safest products can lead to errors if their operation is overly complex. A qualified earning card should:
Require no understanding of complex DeFi protocolsClear activation and deactivation of yield farming logicTransparent display of earnings, balances, and transaction history
Taking the BenPay Card as an example, users simply activate the yield farming feature after acknowledging risks. The system then handles subsequent operations via smart contracts, with earnings and fund status viewable on-chain. Novices need not engage in frequent manual management.

Quick Checklist for Beginners to Avoid Pitfalls
For newcomers, the key considerations when selecting a crypto card are: whether it offers self-custody, whether returns are transparent, whether risks are clearly stated, whether fees are explicit, and whether operations are controllable. Before using a crypto card for the first time, you can quickly cross-reference the following checklist:
Self-custody status: Are private keys held by you, and are funds on-chain and traceable?Clarity of revenue sources: Are they transparent and verifiable on-chain?Clear risk disclosure: Is risk explicitly highlighted?Frequency of on-chain operations: Are frequent on-chain actions required, and are clear operational instructions provided?
Conclusion: What kind of user is suited to the Crypto Yield Card?
The Crypto Yield Card is not a ‘get-rich-quick scheme’, but rather a novel approach to asset utilisation: it ensures your assets remain actively deployed during your spending period, rather than lying idle, continuously generating returns through a relatively stable appreciation mechanism.
It is more suitable for:
Those seeking to simplify on-chain operationsIndividuals prioritising a stable experienceUsers wishing to generate additional value from idle funds
It is not suitable for:
Those pursuing high leverage or short-term high returnsIndividuals frequently engaging in high-risk DeFi operations
For novices, understanding the mechanisms, managing expectations, and prioritising risk awareness will always be more important than any return figures.
#MarketRebound

With more and more merchants and payment networks accepting cryptocurrency assets, crypto payment cards are gradually evolving from "whether they can be used" to "how to use them more efficiently". In this process, crypto cashback cards and crypto yield cards (also known as on-chain yield cards) have become the two most commonly compared products by users.
They all seem to be able to "generate profits while being used", but the essential differences are very obvious in the sources of income, risk structure, asset control, and target audience. This article will focus on comparing these key points and using the BenPay Card as a specific case for analysis.
Crypto Cashback Card vs. Yield Card: What Is the Essential Difference?
The crypto cashback card is based on the premise of "completing the consumption", and returns cash, tokens, or points in proportion after the transaction occurs; without consumption, there is usually no income. The crypto yield card is based on "asset balance". After the user actively activates the earning function, the funds participate in the on-chain DeFi protocol through smart contracts. Even if there is no consumption, the idle balance may continue to generate income. Essentially, the cashback card is a consumption incentive tool, while the yield card is an asset efficiency tool.
Core Comparison Between the Crypto Cashback Card and the BenPay Yield Card
Taking BenPay yield card and common cashback crypto card as examples, the differences between the two types of products are mainly reflected in the following aspects:Yield Model
BenPay Yield Card:
Utilizes a self-custodied Web3 on-chain yield mechanism. Card account balances can participate in on-chain yield strategies, with annualized returns starting from 3% (actual yield levels depend on the selected on-chain protocols and prevailing market conditions). Yields are settled in real time, and funds can be withdrawn or spent at any time.
This model is built on blockchain technology and DeFi protocols in a fully decentralized manner, ensuring transparency and security while avoiding reliance on centralized intermediaries.Traditional Crypto Cashback Card:
Relies on cashback programs, returning a certain percentage of spending in cash or reward points. Cashback typically comes with caps, and the reward rates are generally modest.
This model does not involve blockchain-based or decentralized yield strategies and, therefore, cannot generate additional returns through on-chain protocols.
Risk Management
BenPay Yield Card:
Risks primarily arise from fluctuations in DeFi protocols and changing market conditions. To mitigate these risks, the platform selects established blue-chip DeFi protocols and applies multiple security measures, such as smart contract audits and on-chain self-custody.
User assets remain under self-custody at all times, with private keys fully controlled by the user, ensuring complete ownership and control.Traditional Crypto Cashback Card:
Generally considered lower risk, with risks mainly related to card security and the financial stability of the card issuer or partner banks. Since cashback rewards depend on merchant partnerships and card limits are subject to bank approval, users have limited control over fund security and risk management.
Asset Control
BenPay Yield Card:
Users retain full control over their assets through a self-custody model. Private keys are held by the user, and all actions—such as deposits, withdrawals, or yield claims—require user authorization. Card balances remain fully under user control, minimizing reliance on third parties.Traditional Crypto Cashback Card:
Card issuers maintain significant control. Spending limits, cashback structures, and reward rules are determined by the issuing institution.
Users do not have full custody of their funds, and card usage terms may be affected by policy or regulatory changes from banks or payment providers.
Value Accrual & Payment Functions
BenPay Yield Card:
Supports both on-chain yield generation and global payments. Funds can be used for everyday spending while simultaneously participating in on-chain value accrual.
Card balances can earn yield through DeFi protocols and be flexibly transferred for payments.Traditional Crypto Cashback Card:
Rewards are primarily provided through spending-based cashback. This model does not support asset yield generation and is limited to consumption-driven incentives.
If a user’s primary needs are global payments and asset value growth, the BenPay Yield Card offers greater flexibility and long-term value accrual potential. If the user prefers immediate spending rewards, a crypto cashback card may be a better fit. Each option serves different priorities, and the choice ultimately depends on the user’s preferences regarding payment methods, asset value growth, and spending rewards.

Yield Model
BenPay Yield Card:
Utilizes a self-custodied Web3 on-chain yield mechanism. Card account balances can participate in on-chain yield strategies, with annualized returns starting from 3% (actual yield levels depend on the selected on-chain protocols and prevailing market conditions). Yields are settled in real time, and funds can be withdrawn or spent at any time.
This model is built on blockchain technology and DeFi protocols in a fully decentralized manner, ensuring transparency and security while avoiding reliance on centralized intermediaries.Traditional Crypto Cashback Card:
Relies on cashback programs, returning a certain percentage of spending in cash or reward points. Cashback typically comes with caps, and the reward rates are generally modest.
This model does not involve blockchain-based or decentralized yield strategies and, therefore, cannot generate additional returns through on-chain protocols.
Risk Management
BenPay Yield Card:
Risks primarily arise from fluctuations in DeFi protocols and changing market conditions. To mitigate these risks, the platform selects established blue-chip DeFi protocols and applies multiple security measures, such as smart contract audits and on-chain self-custody.
User assets remain under self-custody at all times, with private keys fully controlled by the user, ensuring complete ownership and control.Traditional Crypto Cashback Card:
Generally considered lower risk, with risks mainly related to card security and the financial stability of the card issuer or partner banks. Since cashback rewards depend on merchant partnerships and card limits are subject to bank approval, users have limited control over fund security and risk management.
Asset Control
BenPay Yield Card:
Users retain full control over their assets through a self-custody model. Private keys are held by the user, and all actions—such as deposits, withdrawals, or yield claims—require user authorization. Card balances remain fully under user control, minimizing reliance on third parties.Traditional Crypto Cashback Card:
Card issuers maintain significant control. Spending limits, cashback structures, and reward rules are determined by the issuing institution.
Users do not have full custody of their funds, and card usage terms may be affected by policy or regulatory changes from banks or payment providers.
Value Accrual & Payment Functions
BenPay Yield Card:
Supports both on-chain yield generation and global payments. Funds can be used for everyday spending while simultaneously participating in on-chain value accrual.
Card balances can earn yield through DeFi protocols and be flexibly transferred for payments.Traditional Crypto Cashback Card:
Rewards are primarily provided through spending-based cashback. This model does not support asset yield generation and is limited to consumption-driven incentives.
If a user’s primary needs are global payments and asset value growth, the BenPay Yield Card offers greater flexibility and long-term value accrual potential. If the user prefers immediate spending rewards, a crypto cashback card may be a better fit. Each option serves different priorities, and the choice ultimately depends on the user’s preferences regarding payment methods, asset value growth, and spending rewards.

How to Choose: BenPay Yield Card or a Crypto Cashback Card?
When choosing between the BenPay Yield Card and a crypto cashback card, users can make a decision based on their own needs. Each option has its own strengths and is designed for different use cases.
If you prioritize instant cashback, low learning cost, and pure spending rewards, a crypto cashback card may be more suitable.If you value asset ownership, on-chain transparency, and long-term asset efficiency, the BenPay Yield Card is likely the better choice.
Payment Compatibility
BenPay Yield Card: Supports global payments for both online and offline use, making it suitable for a wide range of payment scenarios worldwide.Crypto Cashback Card: Also supports global payments, but may face certain limitations depending on partner merchants or payment channels, subject to the issuing institution.
Spending Limits
BenPay Yield Card: Some card tiers offer relatively higher spending limits, making them suitable for frequent spending or large payments, especially in scenarios such as business travel.Crypto Cashback Card: Typically comes with spending limits, particularly for new users or users with lower credit profiles, who may find it harder to obtain higher limits.
Reward Model
BenPay Yield Card: By allocating the card account balance into on-chain yield mechanisms, users can earn returns while spending. This model is suitable for users who wish to improve asset efficiency through on-chain yield participation.Crypto Cashback Card: Primarily relies on spending-based cashback. Cashback rates are usually modest and often capped, focusing on immediate rewards rather than long-term asset growth.
Cross-Chain Operations and Fees
BenPay Yield Card: Supports multiple blockchains, allowing users to choose the most suitable network based on their needs, potentially lowering transaction fees and increasing operational flexibility.Crypto Cashback Card: Most rely on traditional payment settlement systems and do not directly interact with on-chain protocols. As a result, they generally do not support cross-chain asset management, offering limited flexibility in on-chain fund usage.
If your primary goal is global payments combined with asset efficiency and long-term value creation, the BenPay Yield Card offers greater flexibility and long-term potential. If you prefer instant consumption rewards, a crypto cashback card may better align with your needs. Ultimately, the choice depends on your preferences regarding payment methods, asset efficiency, and spending rewards.

Who Is the BenPay Yield Card Designed For?
The BenPay Yield Card is not designed solely for crypto enthusiasts—it addresses the needs of multiple user groups. Compared with traditional crypto cashback cards, the Yield Card offers a more efficient and flexible way to grow assets while balancing everyday payments and asset allocation. Specifically, it is well suited for the following users:
• Crypto Beginners
For users who are new to cryptocurrency, the BenPay Yield Card offers a low-barrier entry to on-chain yield generation. Users do not need to understand complex crypto mechanics to benefit from automated value accrual. Once on-chain yield is enabled, the entire process is automated, allowing assets to grow without additional manual operations.
• DeFi Users
For users familiar with DeFi and on-chain strategies, the Yield Card provides a convenient gateway to participate in selected on-chain yield strategies. Unlike traditional DeFi participation, users are not required to actively manage positions. Assets remain liquid while earning yield, making them readily available for everyday spending.
• Cross-Border Business Professionals
The Yield Card supports global payments with high spending limits, making it suitable for frequent travelers and cross-border business users. Whether domestically or overseas, the card integrates seamlessly with mainstream POS terminals and digital payment platforms such as Apple Pay, Google Pay, and WeChat Pay, delivering a smooth and convenient payment experience.
• Long-Term Crypto Holders
For users who believe in the long-term value of crypto assets but still require liquidity, the Yield Card offers an ideal balance. Users can allocate part of their holdings to the card, enabling daily spending while participating in on-chain value accrual—maintaining flexibility without leaving assets idle.
• Traditional Finance Users
Traditional finance users seeking exposure to crypto-based value growth can also benefit from the Yield Card. It provides the same convenience as traditional payment tools, while adding on-chain yield generation and value accrual. This allows users to access crypto-based returns without changing their existing spending habits.
Summary
Crypto cashback cards focus on making spending more rewarding, while yield cards focus on ensuring assets do not remain idle. If your goal is instant rewards and simplicity, a cashback card may be sufficient.
If you place greater emphasis on asset control, on-chain transparency, and long-term value growth, crypto yield cards—represented by the BenPay Yield Card—offer a more suitable choice.

Introduzione
Mentre l'ecosistema DeFi continua a maturare, le opportunità di guadagnare rendimenti sulla blockchain non sono più scarsa. Ciò che realmente ostacola gli utenti non è la mancanza di opportunità, ma gli ostacoli all'accesso. Meccanismi protocolli opachi, regole altamente specializzate, flussi di fondi poco chiari e passaggi operativi complessi spesso scoraggiano gli utenti. Anche quando gli utenti riconoscono che i loro asset potrebbero essere impiegati in modo più efficiente, molti scelgono ancora di rimanere in disparte o lasciare i fondi inattivi per periodi prolungati.

Man mano che la criptovaluta evolve da obiettivo di investimento a strumento di pagamento, sorge una domanda più fondamentale: il "carta cripto" che abbiamo in mano è semplicemente un canale di spesa, oppure è un motore di crescita autonoma?
Immagina questa situazione: hai 5.000 USDT sul tuo conto, in attesa del tuo prossimo viaggio d'affari, della prenotazione dell'hotel o delle spese quotidiane. Durante quei 60 giorni non li hai spesi, e non hanno fatto nulla. Il problema non è se li spendi o meno, ma piuttosto: quei 5.000 USDT avrebbero potuto continuare a guadagnare mentre

According to Chainalysis, in 2025, over $3.4 billion worth of cryptocurrency was stolen, and personal wallet thefts surged to 158,000 cases, mainly due to private key leaks and centralized platform issues. As crypto wallets evolve from being merely “storage tools” into integrated platforms for payments, asset allocation, and yield, on-chain yield cards are attracting increasing attention.
For new users, however, the most pressing question remains: Is an on-chain yield card safe? Simply put, there is no absolute answer to “completely safe” or “completely unsafe.” Their safety primarily depends on three factors: whether funds are self-custodied, whether yields are verifiable on-chain, and whether the funds can continue earning while remaining fully available for payments.
Common Concerns About On-Chain Yield Cards
Asset Custody and Control
Many users worry that once funds are deposited into a yield card, control shifts entirely to the platform. Safer on-chain yield card designs emphasize on-chain transparency and verification.
Yield Volatility and Protocol Risk
On-chain yield is not traditional interest. It fluctuates based on liquidity, protocol mechanism, and market conditions. Understanding this distinction is essential when evaluating whether an on-chain yield card is safe.
Payment Reliability
As a payment tool, users also care about the card’s reliability for everyday spending. A secure on-chain yield card allows funds to keep earning while remaining fully available for payments, ensuring daily spending is never interrupted.
Are On-Chain Yield Cards Safer Than Centralized Finance Apps?
When users search for "Is the on-chain yield card safe?", they usually do not seek a "zero-risk" answer; rather, they want to know whether the risk of this new type of card is more understandable and controllable than the traditional financial tools they are familiar with.
A natural reference object is the centralized financial app (CeFi app) that users use on a daily basis. Both offer payment and yield functions, but there is an essential difference in the underlying logic of "security" :
In centralized finance apps, "security" mainly relies on the platform's credit: users must trust the platform's risk management capabilities.The on-chain yield card redefines security through verifiability, transparency, and systematic design: users no longer have to rely entirely on a single platform but can directly verify the status of their assets through blockchain.
This does not mean that on-chain yield cards are risk-free; instead, it makes risks more explicit and understandable, and enables users to manage them more proactively.
The following table compares the security logic differences between on-chain yield cards and centralized financial apps from key dimensions such as user visibility, custody mode, and risk exposure methods:

How BenPay On-Chain Yield Card Makes Risk More Visible, Understandable, and Manageable
Self-Custody and On-Chain Transparency
One of the core considerations when evaluating the safety of an on-chain yield card is how funds are held and how much control users have over their assets. The BenPay On-Chain Yield Card adopts a self-custody model, ensuring that assets remain fully under the user’s control while emphasizing on-chain visibility:
Self-Custody: Assets are always under the user’s controlOn-Chain Verifiable: All operations are recorded on-chain, with full transaction transparency
While on-chain transparency cannot eliminate market or protocol risks, it transforms hidden risks into visible ones, allowing users to clearly understand the flow of funds. Users still need to assess the potential fluctuations caused by on-chain protocols and market conditions themselves.
Source of Yield and Security
The BenPay On-Chain Yield Card utilizes a unique “three-layer account” architecture to achieve intelligent coordination of fund states:
Self-Custody Wallet (on the BenFen Chain): Users fully control their private keys, maintaining 100% ownership of their assets.Card Account Balance: Once on-chain yield is activated, funds automatically participate in market-verified blue-chip DeFi protocols. Yields are calculated and settled daily, fully verifiable on-chain.Card Balance: Used for everyday payments, always available to ensure stable spending and liquidity.
Through the “three-layer account” structure, the same funds no longer need to switch repeatedly between “safety, yield, and payment.” Assets can simultaneously accrue yield under self-custody while remaining available for use. All operations are verifiable on-chain and fully transparent, making yield-related risks visible, understandable, and manageable, while ensuring uninterrupted and reliable payment functionality.
BenPay On-Chain Yield Card FAQs
Are there any additional fees for enabling on-chain yield on the card account?
No. Users can independently activate the automatic on-chain yield function for their card accounts. Recharges and consumption will not be affected, and no additional fees will be incurred for on-chain yield.
Will the card account balance be locked, or can I spend it at any time?
No. The card account balance participates in on-chain yield, while the card balance can be used for spending at any time. When making a payment, the required amount is transferred from the card account balance to the card balance; any unused card account balance continues to earn yield without affecting everyday payments.
Are there risks with on-chain yield cards?
Any on-chain product carries risks. BenPay's on-chain yield cards offer multiple security guarantees. They are self-custodial on-chain, and all operations are verifiable on-chain, and the entire transaction process is transparent, ensuring the safety and reliability of users' assets. It should be noted that on-chain yield may still be affected by the performance of the protocol and the market environment. Users should make judgments based on their own risk tolerance.
How Are On-Chain Yields Calculated? Are They Volatile?
Yield is generated from backend DeFi strategies. The system calculates and distributes earnings daily. Users can view both "Yesterday's Earnings" and "Accumulated Earnings" within their card account balance. Earnings may fluctuate due to factors such as strategy performance and available balance. This is normal and does not affect fund availability or card payment functionality.
Are On-Chain Yield Cards Suitable for DeFi Beginners?
BenPay On-Chain Yield Card is designed to be beginner-friendly. Users do not need to manually operate complex DeFi protocols. The yield feature runs within the card account, while payment and spending functions remain fully available. This allows newcomers to safely experience on-chain yield even without any prior DeFi knowledge.
Curious to see how on-chain yield works in practice? Explore the features of the BenPay On-Chain Yield Card and let your idle funds grow while you spend.

Conclusion
In summary, there is no “absolutely safe” or “absolutely unsafe” answer for on-chain yield cards—their security fundamentally depends on the specific design. To evaluate the security of an on-chain yield card, you can focus on the following three key aspects:
Whether users retain full control of their funds: This ensures assets are always under the user's direct control, preventing the platform from having direct access.Whether yields and asset flows are verifiable on-chain: This makes risks transparent, allowing users to monitor their funds' status in real-time.Whether the yield-earning mechanism and payment are independent: Ensure that the funds increase in value while daily payments can be made at any time.
When these conditions are clearly and transparently met, risks become more visible, understandable, and manageable, empowering users to make a rational decision on whether to use an on-chain yield card.
#加密市场观察

Introduction
For most digital asset holders, funds usually end up in one of three places — and each comes with clear flaws:
Kept on an exchange account: Convenient to use, but assets are custodial. Security and transparency remain ongoing concerns, and funds typically generate no yield.Stored idle in a wallet: Assets are secure, but simply “stored,” without participating in on-chain yield opportunities.Deposited into DeFi protocols: Yield is possible, but the process is complex, and risks are difficult to predict. Once funds are deployed, they are often hard to access for everyday spending.
As a result, users often need to make trade-offs among security, yield, and liquidity.
The BenPay On-Chain Yield Card was created to resolve this long-standing dilemma: Without sacrificing self-custody security, funds remain instantly spendable while continuously earning on-chain yield.
I. The Three Core Dilemmas Facing Digital Asset Holders
1. The Limits of "Idle Assets"
When crypto assets are held as stablecoins, their value tends to be relatively stable and does not involve price depreciation. However, if funds remain idle in exchange accounts or cold wallets for a long time, they cannot capture the native yields generated by on-chain protocols. Assets are merely “preserved,” not truly “used.”
2. The Barrier of "High Threshold Fear"
To grow your asset through DeFi, users must first understand wallet creation, private key management, network switching, protocol selection, impermanent loss, gas optimization, and more. A single mistake can lead to irreversible asset loss. This complexity — and fear — keeps many users on the sidelines.
3. The Inconvenience of "Liquidity Fragmentation"
Even users who bravely enter DeFi face a practical challenge: funds are typically locked in liquidity pools or lending protocols and cannot be used for everyday spending. When payment is needed, users must redeem assets first, wait for confirmations, and pay high gas fees — a process that is both slow and costly.
II. BenPay On-Chain Yield Card: Grow Your Assets While Keeping Them Instantly Spendable
To address the three most common practical problems faced by digital asset holders — the long-term idle funds, excessively high thresholds for DeFi operations, and the inability to combine yield with liquidity — the BenPay On-Chain Yield Card offers a solution that aligns with everyday payment habits.
Automatic Asset Growth, Clearly Visible Earnings
On-chain yield is generated through BenPay’s DeFi Earn system. Once users enable the “Earn” switch, their card account balance is automatically connected to selected on-chain DeFi protocols. It is important to clarify: on-chain yield is not generated by the card itself. Rather, the card account balance participates in on-chain protocols through the DeFi Earn system, resulting in yield generation, with the entire process remaining seamless to the user.
Without affecting daily payments, funds continue participating in on-chain activity. Yield is settled daily and credited the same day, starting at 3% APY (based on real-time on-chain protocol returns). Earned yield can continue to participate in on-chain yield strategies, balancing liquidity with long-term returns.

Keep All DeFi Complexity Entirely in the Background
The On-Chain Yield Card does not require users to understand protocol mechanics, compare yields, calculate gas costs, or manually reinvest returns. With a single tap to enable “Earn,” all remaining processes are handled automatically by the system. The overall experience feels much closer to that of a traditional payment product, while still preserving the core advantages of on-chain yield — transforming DeFi yield capacity from a "professional tool" to a "basic function".

Instant Usability While Earning On-Chain
Unlike traditional DeFi, funds in the On-Chain Yield Card are not locked into protocols. During everyday spending, the card account balance can be transferred to the card balance at any time and used directly for payments, enabling a seamless transition between earning and spending.
Security Built on On-Chain Self-Custody
The On-Chain Yield Card adheres strictly to self-custody principles. Users retain full control of their private keys; the Platform never touches or holds user assets, and all operations are fully verifiable on-chain. Meanwhile, the card integrates only blue-chip DeFi protocols rigorously validated by the market over time, balancing yield efficiency with minimal systemic risk.
Incentives That Enhance Utility and Community Value
To encourage more users to experience the convenience and growth potential of the On-Chain Yield Card, BenPay launched a launch incentive and referral program alongside its release. This not only allows users to earn yield during everyday use but also provides additional rewards through sharing, creating a system of value sharing:
Free card issuance: Free for the first 200 usersReferral rewards: Earn $2 USD for each successful referral who opens a card and deposits fundsDeposit rewards: During the campaign, the top 10 users by cumulative deposits receive an additional 3 USDT airdrop
The BenPay On-Chain Yield Card breaks the binary choice between “idle” and “locked” assets, establishing a new balance between self-custody, on-chain yield, and instant usability — keeping DeFi complexity in the background while delivering yield and convenience to users. At the same time, users can not only achieve asset growth by taking what they need at any time but also earn additional income through social sharing of early incentives.

III. Why the BenPay On-Chain Yield Card Is a Breakthrough Product
The BenPay On-Chain Yield Card is not merely a simple combination of existing solutions. Through innovations in its underlying architecture, it achieves a seamless integration of traditional financial experiences with the on-chain world. Its breakthrough lies in three dimensions: product mechanics, technical implementation, and user experience, effectively solving the long-standing dilemma of choosing between payment and asset growth.
1. A Unique Three-Layer Account Architecture for Intelligent Fund Coordination
Self-custodial wallet on BenFen Chain: Users fully control their private keys and 100% asset ownership.Card account balance: Once on-chain yield is enabled, it automatically participates in selected blue-chip protocols, earning yield on-chain daily.Card balance: Instantly available for global spending at any time.
This three-layer structure maximizes asset efficiency. The same funds no longer need to rotate between “security,” “growth,” and “payments.” Instead, under self-custody, they can simultaneously earn on-chain yield and be used for instant consumption, allowing assets to retain liquidity while continuously generating value.
2. Extreme Automation, Minimal User Burden
One-Click Yield: Enabling the switch automatically handles protocol selection, fund allocation, yield reinvestment, and the entire process end-to-end.Zero-Gas Payments: For everyday spending, funds are transferred from the yield account without the user noticing the underlying redemption or confirmation process, with no additional fees.Transparent Fees: No setup fees, no management fees, with daily yield clearly visible and fully verifiable on-chain.
The core principle of this design is not to make DeFi more complex, but to remove complexity entirely from the user’s perspective. Users do not need to understand protocol differences, gas mechanics, or reinvestment logic — the system automatically executes all processes on-chain in a fully verifiable manner.
3. On-Chain Transparency and Protocol Selection
Fully On-Chain Verifiable: All operations are recorded on-chain, making the process transparent and auditable at any time.Selected Blue-Chip Protocols: Only top-tier DeFi protocols with long-term market validation are integrated, ensuring controllable risk.
This approach balances fund security and yield generation. All operations are verifiable on-chain, the process is fully transparent, and only well-established DeFi protocols are used, allowing assets to grow safely and reliably.
IV. Use Cases: Rebuilding Digital Asset Lifestyles
Higher Capital Efficiency
Funds held as digital assets can be deposited into the BenPay On-Chain Yield Card. While covering daily spending needs, they simultaneously participate in on-chain yield generation, allowing assets to maintain higher liquidity and capital efficiency during use.
A Cash Flow Tool for Long-Term Holders
Long-term crypto holders who require partial liquidity can allocate a portion of their assets to the BenPay On-Chain Yield Card. This enables them to balance daily spending capability with asset growth, without disrupting their existing holdings.
An Easy On-Ramp for DeFi Beginners
Users curious about DeFi but hesitant to participate can experience on-chain yield in the simplest possible way, gradually building understanding and confidence.

V. Industry Impact: A Step Toward Mainstream Adoption
The BenPay On-Chain Yield Card represents a shift in Web3 product philosophy — moving beyond serving only advanced users toward a broader audience. This is achieved through three principles:
Complexity Stays in the Background
Users do not need to understand smart contracts, gas fee calculation, or reinvestment logic. They simply enable the on-chain yield switch, while all other complex processes are handled automatically by the system. The experience feels much closer to a traditional payment product.Simplicity Without Compromising Core Values
While the operation becomes simpler, the BenPay card still adheres to the self-custody principle, on-chain transparency, and the open nature of Web3, allowing users to maintain full control over their assets.Direct Integration with Real Life
Through a virtual card, there is no need to convert crypto into fiat in advance. Users can spend directly in the real world while simultaneously growing their on-chain assets.
This approach embodies a broader industry insight: true mass adoption does not require ordinary users to learn blockchain; it requires blockchain to integrate naturally into the ways users already interact with money.
Conclusion: Put Your Assets to Work
In traditional finance, funds typically exist in one of two states: either being spent or sitting idle in an account. The BenPay On-Chain Yield Card combines both seamlessly: while funds await spending, they continue to participate in on-chain activities. This allows every asset to maximize its value safely and autonomously, improving capital efficiency. Whether for daily payments, asset growth, or long-term cash flow management, users can freely manage their funds within a unified account system — truly enabling “earn while you spend.”

Disclaimer
The content of this article is for informational purposes only and describes the features and usage of the BenPay On-Chain Yield Card. It does not constitute any form of investment advice or guarantee of earnings. Digital assets are subject to price volatility and inherent risks. Users should make their own judgments and assume responsibility for any risks when participating in on-chain yield or related financial activities.
#Privacy #blockchain

For Web3 payments to truly enter the mainstream, it is essential not only to address issues of "efficiency and cost" but also to restore users' control over the "privacy boundaries of their digital identities." In other words, privacy is a prerequisite for payments to achieve mass adoption, not merely an optional technical enhancement.
BenFen Chain’s private payment system is designed precisely to address this core challenge. Built on the BenFen Chain ecosystem, BenPay (www.benpay.com) enables users to leverage the BenPay Card for daily small-value payments—such as dining, subscriptions, transportation, and online purchases—making stablecoin payments more accessible and seamlessly integrated into everyday life. The system uses advanced MPC technology to automatically conceal transaction details, including amounts, times, recipient information, and address correlations across transactions. Additionally, BenFen Chain introduces a "selective disclosure mechanism" that allows users to grant limited transaction visibility to merchants or regulators when necessary, enabling a "verifiable yet untraceable" payment experience.

As crypto payments move closer to everyday use, crypto cards have become a practical tool for cross-border spending, ad payments, and premium subscriptions. Yet one long-standing problem remains unresolved: Money sitting in a card account does nothing until it is spent. This inefficiency is exactly what an on-chain yield card is designed to solve.
In this guide, we’ll explain what an on-chain yield card is, how Earn While You Spend works in practice, the security and self-custody model behind it, real-world implementation examples (BenPay), and who this product is best suited for.
What Is an On-Chain Yield Card?
An on-chain yield card is a crypto payment card that enables the card account balance to participate in on-chain earnings after the "Earn" button is activated by the user. In simple terms: An on-chain yield card = a crypto payment card combined with an on-chain yield mechanism based on the balance of the card account
Unlike traditional crypto cards, where balances sit idle until spent, an on-chain yield card ensures that unused funds continue to work and generate on-chain yield in the background.
Key Differences from Traditional Crypto Cards

Users do not need to manually participate in DeFi or understand complex DeFi protocols. After activating the "Earn" button, as long as the funds remain in the card account, they can continuously generate on-chain returns.
How “Earn While You Spend” Works
Card Account Balance-Based On-Chain Yield Model
In an on-chain yield card, Earn While You Spend refers to a card account balance-based on-chain yield mechanism, not transaction-based rewards. Instead of earning from each payment, users earn an on-chain yield from the unspent portion of their card account balance.
Here’s how it works in practice:
Card Account Balances Remain On-Chain
When users top up stablecoins into an on-chain yield card, those funds are held in an on-chain wallet linked to the card. Before being consumed, the balance of the card account remains on the chain, enabling it to be compatible with smart contracts and on-chain yield protocols. The card itself is merely a payment interface, not an asset custodian.
Idle Funds Are Automatically Allocated to Yield
Any portion of the card account balance that is not immediately spent is considered idle funds. After users activate the "Earn" function, these idle funds are allocated into high-liquid, relatively low-risk on-chain yield strategies.
After starting to "earn", the entire process is automated for users:
No manual depositsNo complex DeFi knowledge required
From the user's perspective, the card account balance will continue to accrue on-chain yield during the period the "earn" is active.
Spending Does Not Interrupt Earning
A key feature of the Earn While You Spend model is that earning and spending happen simultaneously. When a user makes a payment:
The amount spent will be deducted from the card balanceThe remaining balance in the card account will continue to generate incomeThe funds in the card account can always be used immediately
For example, if a user tops up 1,000 USDT to the card account and spends 300 USDT on the card, the remaining 700 USDT in the card account will continuously generate on-chain income until it is spent.
Not Cashback, Not Rewards
It’s important to clarify that this model is fundamentally different from cashback or reward cards.
Yield is not generated by spendingThere are no per-transaction incentivesEarnings come from time and the balance size of the card account, not from usage frequency
Yield accrues as long as funds remain in the card account. The longer funds remain in the card account, the more yield they generate—without affecting the user’s ability to spend.
Therefore, the true meaning of "earn while you spend" is that users do not have to choose between "using funds" and "letting the funds make money." They can consume freely while allowing the remaining balance in their card accounts to continuously participate in on-chain yield in the background.
Security and Self-Custody
Security is the foundation of any on-chain financial product.
Self-Custodial Architecture
Most mature on-chain yield cards adopt a self-custodial architecture, meaning:
Users retain full control of their assetsThe platform does not freely move user fundsAsset states can be verified on-chain
In practice: The card is a spending interface, not a custodian of assets.
Yield Strategies Designed for Liquidity
Unlike aggressive DeFi investments, yield strategies behind on-chain yield cards prioritize:
High liquidityAbility to withdraw funds at any timeCapital preservation over maximum APY
The objective is not yield maximization, but: Stable, uninterrupted earnings while maintaining spendability
Clear Risk Boundaries
An on-chain yield card is:
Not risk-freeBut it has a significantly lower risk than active DeFi investingComparable to an “on-chain money market” experience
This balance makes it suitable for users who want yield without complexity.
Real-World Implementation Example: BenPay On-Chain Yield Card
To illustrate how an on-chain yield card works in practice, consider the BenPay On-Chain Yield Card (mentioned purely as an example).
Users top up stablecoins (USDT/USDC) to card accounts for daily spendingUnused card account balances will automatically participate in on-chain yield after the user actively activates the earn functionDaily earnings are visible, such as: “Yesterday’s yield: +2 USDT”No additional action is required, and spending remains seamless

The key innovation is not high yield, but changing the default state of card account balances from "idle funds" to "on-chain assets that can generate value". This transformation has also fundamentally changed users' perception of card account balances: the money in the card account is no longer just temporary consumption funds, but a continuously operating asset.
Who is an on-chain yield card Best Suited For?
Cross-Border Spenders and Ad Buyers
Typical traits
Frequently top up 100–2,000 stablecoinsDo not spend the full balance immediatelyHighly sensitive to fees and card costs
Why it fits
Idle balances no longer feel “wasted.”Even non-yield-focused users perceive higher valueThe card feels economically smarter
Web3 and Crypto-Native Users
Typical traits
Hold stablecoins long-termUnderstand DeFi but prefer automationCare about capital efficiency
Why it fits
Passive yield without manual strategy managementImproved utilization of funds already sitting in the card accountNo operational overhead
Non-Crypto Users
Typical traits
No DeFi knowledgeUnderstand “on-chain yield of card account balance” conceptsWant safety, simplicity, and automation
Why it fits
Extremely low learning curveVisualized daily earnings build trustActs as a gateway into on-chain finance
Typical User Scenarios
Scenario A: Idle Balance Awareness
A user tops up 1,000 USDT for spending. Only 300 USDT is used . The remaining 700 USDT earns yield automatically.
The user realizes the card account balance is no longer “dead money.”
Scenario B: Card Comparison Decision
When comparing multiple crypto cards:
One card offers cashbackAnother offers a yield on the card account balance
The realization that “My money won’t sit idle here” is often used to justify higher upfront costs.
Scenario C: DeFi Without the Hassle
A Web3 user wants yield, but:
Doesn’t want to manage complex DeFi protocolsFears of operational mistakes
The on-chain yield card offers: Curated DeFi strategies + instant liquidity
Why On-Chain Yield Cards Matter
Strategically, the on-chain yield card serves as the lowest-friction entry point into DeFi
By introducing users to:
Passive yieldVisible daily returnsOn-chain trust
It naturally prepares them for:
Higher-yield strategiesMore advanced DeFi productsLarger capital commitments
FAQ: On-Chain Yield Cards
Where does the yield come from?
From on-chain yield protocols, not platform subsidies.
Does earning yield affect spending speed?
No. Spending and earning on-chain yield can happen simultaneously.
Do I need Complex DeFi knowledge?
No. Users only need to enable the earn function independently. The subsequent on-chain interest generation process will be automatically executed by the system, and users do not need to perform any DeFi operations.
Is it risk-free?
No on-chain product is risk-free, but risk is significantly lower than active DeFi.
Is it meant for long-term investing?
It’s best for idle balances used for spending and storage—not high-risk investing.
Final Thoughts
The On-Chain Yield Card is not merely for obtaining earnings. Its true value lies in solving the problems of idle funds and inefficient use, allowing your assets to continuously increase in value through consumption and payment. By turning idle balances into productive assets, it transforms a crypto payment card into a value-generating financial interface, bridging everyday spending and on-chain finance in a way that feels natural, simple, and sustainable.

Risk Notice
On-chain yield cards are not risk-free. Funds are exposed to on-chain protocols, smart contract risks, and market fluctuations. Users should understand that earnings are not guaranteed. Always review platform terms and consider potential losses before using them.