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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

Nếu bạn đang tìm kiếm một cách an toàn hơn để truy cập lợi suất trên chuỗi trong khi tránh những rủi ro như sự biến động giá token, cơ chế DeFi phức tạp và các tài sản dài hạn rủi ro cao, bạn không đơn độc. Hầu hết người dùng muốn có lợi nhuận ổn định mà không phải để tài sản của họ vào những lợi suất không ổn định hoặc rủi ro giao thức mờ ám. BenPay DeFi Earn được thiết kế đặc biệt cho nhu cầu này—cung cấp một cách tiếp cận an toàn để truy cập lợi suất trên chuỗi với các hoạt động đơn giản hóa.
Tại Sao Lợi Suất DeFi Truyền Thống Là Rủi Ro Đối Với Hầu Hết Người Dùng
Các sản phẩm lợi suất DeFi truyền thống thường phụ thuộc vào các token quản trị biến động và các ưu đãi thanh khoản, khiến người dùng phải đối mặt với sự biến động giá liên tục và rủi ro mất mát tạm thời.

Giải Thích Chi Tiết về Cơ Chế Tự Bảo Quản và Bảo Mật Quỹ của BenPay
Bảo mật của thẻ lợi suất trên chuỗi cơ bản phụ thuộc vào ba yếu tố: liệu tài sản có được tự bảo quản bởi người dùng hay không, liệu dòng quỹ có thể được xác minh hoàn toàn trên chuỗi hay không, và liệu chiến lược lợi suất có xuất phát từ các giao thức được lựa chọn an toàn và minh bạch hay không. Thẻ Lợi Suất Trên Chuỗi BenPay đạt được sự hợp nhất giữa việc tạo ra lợi suất an toàn và chi tiêu ngay lập tức thông qua kiến trúc "tự bảo quản" của nó và việc thực thi tự động các hợp đồng thông minh trên chuỗi, trong khi đảm bảo kiểm soát tài sản tuyệt đối cho người dùng. Bài viết này nhằm phân tích khách quan thiết kế bảo mật của Thẻ Lợi Suất Trên Chuỗi BenPay, bao gồm các nguyên tắc tự bảo quản, đảm bảo hợp đồng thông minh và logic kiểm soát rủi ro đằng sau các chiến lược lợi suất được lựa chọn.

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.

While Decentralized Finance (DeFi) has made earning passive income on stablecoins accessible to everyone, a significant hurdle remains: the constant trade-off between liquidity and utility. Traditionally, if you wanted to earn yield, your funds may be locked away; the moment you needed to spend, your earnings stopped. Most traditional crypto payment card options function as "pass-through" tools that hold your funds in non-interest-bearing accounts, essentially letting your money sit idle and lose value overtime while you wait to swipe.
Imagine a world where your money never stops working for you—where you earn high-interest returns until the very second you pay. This is the era of the On-Chain Yield Card, a new category of crypto payment tool that allows you to "Earn While You Spend." By bridging the gap between on-chain yield investment and daily liquidity, this on-chain solution is fundamentally redefining how Web3 users manage their wealth in the real world.
What is an On-Chain Yield Card?
An On-chain Yield Card is a next-generation crypto payment tool. Beyond the standard spending features of traditional crypto cards, it allows the card balance to participate in on-chain yield strategies. Unlike traditional cards, which act solely as payment gateways where funds remain idle, an on-chain yield card—once the 'earn' feature is activated—allocates funds to DeFi protocols to generate potential returns.
In short: While funds in a traditional crypto card simply sit waiting to be spent, the balance in an On-chain Yield Card captures potential yield while maintaining full liquidity.
How Does an On-Chain Yield Card Work? Where Does the Revenue Come From?
The core of an On-Chain Yield Card lies in its ability to allow card account balances to participate in on-chain yield strategies rather than simply sitting idle awaiting consumption. Unlike a Traditional Crypto Payment Card, once a user actively enables the "Earn" feature, the account balance participates in on-chain DeFi protocols according to preset strategies to seek potential returns. This process is transparent, verifiable, and executed by smart contracts, ensuring users maintain full control over their funds. Please note that yields fluctuate with market volatility, and fixed returns are not guaranteed.
The income generated by these cards typically originates from the following sustainable on-chain sources:
Over-collateralized Lending: The most common source of yield. Assets are provided to decentralized lending protocols such as Aave or Compound. Since borrowers must provide collateral higher than the loan amount, the risk of principal loss is minimized while interest flows back to the depositor.Staking and Network Rewards: For compatible Proof-of-Stake (PoS) assets, yields are earned by participating in the security validation of the blockchain network itself.Liquidity Provisioning: Funds are used to provide liquidity for decentralized exchange (DEX) pools. In return, holders receive a proportional share of transaction fees generated by global trading activity.Tokenized Real-World Assets (RWA): Advanced on-chain solutions are bringing institutional-grade yields—such as tokenized U.S. Treasuries—directly into account balances. This allows users to capture government-backed "risk-free" rates while maintaining 24/7 liquidity.
The entire lifecycle is automated. When a transaction occurs at a Point of Sale (POS), the system triggers "instant" liquidation, redeeming only the precise amount required to settle the payment. The remaining balance continues to generate yield uninterrupted, ensuring your funds are continuously compounding until the very moment of consumption.
On-Chain Yield Card vs. Crypto Payment Card: What’s the Difference?
To understand the difference between a yield card and a Traditional Crypto Payment Card, one must first examine how standard crypto cards work. While they successfully bridge crypto assets with real-world payments, their design prioritizes spending convenience over asset efficiency, leaving idle balances unable to generate yield.
How a Traditional Crypto Payment Card Works?
A Traditional Crypto Payment Card is essentially a "bridge" or "gateway" tool. The process is typically linear: you manually "top up" a custodial wallet where funds sit as "dead assets" until they are converted into fiat at the time of payment. This model forces users to sacrifice yield potential for the sake of spending convenience.
Flaws of Traditional Crypto Payment Cards:
The "Idle Asset" Trap: Most traditional cards require you to deposit funds into a zero-interest wallet. If you keep $5,000 in your card for monthly expenses, those assets are effectively "dead."Yield Interruption: To spend, funds must be moved out of yield-bearing accounts, causing interest generation to stop immediately.Centralization Risk: Most standard cards are custodial. You do not own private keys, and the security of your funds depends entirely on the platform.Invisible Fees: Many traditional cards hide poor exchange rates or high "spreads" when converting cryptocurrency to fiat.
Why the On-Chain Yield Card is Outperforming Traditional Crypto Payment Cards

As the global economy transitions toward a 24/7 digital model, the on-chain yield card represents the future of Web3 payments. It eliminates the outdated practice of ‘parking’ funds in non-interest-bearing accounts. In this new era, holding funds is just as profitable as asset appreciation—giving your daily balance a higher velocity of capital and more generous returns than traditional savings accounts.
BenPay Card: A Web3 On-Chain Yield Card Built for Real-World Use
In the realm of on-chain yield cards, the BenPay Card stands out as a Web3 on-chain yield card specifically designed for modern users seeking security and asset appreciation. BenPay is more than just a payment method; it is a comprehensive asset allocation tool.
BenPay's Innovative Design: On-Chain Yield for Card Account Balances
As a leading on-chain yield card, BenPay Card introduces several advantages:
Self-Custodial Web3 Card: Security is the cornerstone of BenPay. You hold the keys to your financial future, ensuring your assets remain under personal control and free from the risks associated with centralized exchange collapses.Yields on Card Account Balances: This is BenPay’s most powerful feature. When your funds are placed in the ‘Card Account,’ simply toggling the ‘Earn’ button allows your card account balance to immediately start generating on-chain yields.Seamless Spending Management: When you are ready to shop, just transfer the required amount from the ‘Card Account’ to the ‘Card Balance.’ The system deducts the spending amount, while the remaining unused funds in the ‘Card Account’ continue to accrue interest, ensuring uninterrupted yields throughout the process.Daily Settlement: Yields are calculated and settled daily, becoming available for withdrawal or reinvestment to earn compound interest the very next day. You maintain control over your earnings, ensuring your assets always operate at peak efficiency.
How to Apply for Your BenPay Card
Stepping into the future of Web3 payments is effortless. BenPay offers a streamlined onboarding experience, allowing you to activate your on-chain yield card in minutes. Simply visit our official website and click ‘Apply Now’ to request your card and start making your cryptocurrency work for you.

Ready to experience the next generation of financial sovereignty? Follow our Step-by-Step Application Guide to activate your card and start earning while you spend today.
Who Is the On-Chain Yield Card For?
For those who understand the time value of money, an on-chain yield card is the logical choice:
Passive Earners: Ideal for users who want to maximize asset efficiency without having to personally research and manage complex DeFi strategies. BenPay automates heavy lifting for you.Stablecoin Enthusiasts: If a significant portion of your net worth is held in USDT or USDC, an on-chain yield card helps protect that value against fiat inflation.Digital Nomads: For those who earn in crypto and spend in various fiat currencies across borders, the yields can help offset transaction fees.DeFi Power Users: Why keep "spending money" in a 0% yield wallet when you can deposit it into BenPay to earn 3-5% (derived from on-chain yields and subject to fluctuation)?
Conclusion
With the evolution from traditional crypto payment cards to on-chain yield cards, your funds are no longer just waiting to be spent; they are actively participating in yield strategies while they wait. You no longer have to choose between earning returns and daily spending. With innovative tools like BenPay, you can finally achieve the ultimate convenience of earning while you spend.
Ready to stop letting your crypto sit idle? Get your BenPay on-chain yield card today and start earning while you spend it.
Frequently Asked Questions (FAQ)
Q1: Are on-chain yield cards safe compared to traditional bank cards?
While traditional bank cards are protected by government schemes, on-chain yield cards rely on the security of blockchain technology and audited smart contracts. By using an on-chain yield card, you enjoy asset transparency—you can clearly see where your funds are—and if it is a self-custodial card, you are the only one with the authority to move your assets. However, please note that risks still exist; please assess your personal risk tolerance before use.
Q2: How is an on-chain yield card different from a High-Yield Savings Account (HYSA)?
While both offer interest in balances, an on-chain yield card typically provides relatively secure and stable returns by directly accessing curated decentralized protocols. Additionally, yields fluctuate with market conditions, and a fixed return is not guaranteed.
Q3: How is the APY of an on-chain yield card calculated?
The APY of an on-chain yield card is determined by the market supply and demand of the underlying DeFi protocols and will fluctuate with market changes. Actual returns may increase or decrease, and a fixed return is not guaranteed.

With the growing adoption of cryptocurrency payments, more and more people want to use their crypto assets for everyday spending instead of letting them sit idle in a wallet. This raises a common question:
Is there a crypto debit card that can be used for daily transactions while the balance also earns yield?
The answer is yes. This is exactly what the BenPay On-Chain Yield Card offers — letting your funds grow while remaining readily available.
What Is an “Earn-While-You-Spend” Crypto Debit Card?
An “earn-while-you-spend” crypto debit card is essentially a card that combines payment functionality with an optional yield-generating mechanism.
It works like a regular debit card for spending, but also allows the unused balance in your card account to earn interest once the user activates the “Earn” function. This type of product is called an On-Chain Yield Card
Core features:
Have crypto assets in the card account earn yield after the user chooses to enable itSpend funds anytime without restrictionGrow their balance dynamically without extra manual operations
Unlike cashback crypto cards or simple staking tools, it offers a more flexible and transparent revenue experience.
BenPay On-Chain Yield Card: Grow Your Funds While Keeping Them Accessible
The BenPay On-Chain Yield Card is designed specifically for crypto users, with its core value in:
On-Chain Yield (User Activated)
When a user clicks the “Earn” button on their card account balance, the eligible balance participates in on-chain yield protocols, achieving:
Interest generationReal-time yield updatesDaily settlementTransparent on-chain tracking
Compared to traditional bank deposits, this provides higher returns and full transparency.
Note: Yield applies only to the card account balance chosen by the user, not the entire card balance. Funds are not automatically deducted — yield starts only after the user activates the feature.
Ready-to-Use Funds, No Lock-Up
Even when assets are earning yield on-chain, they remain accessible:
Payments are deducted directly from the card balanceNo need to redeem or pause yield in advanceNormal spending is unaffected
This means users can earn yield while keeping their funds ready for spending.
How Does an “Earn-While-You-Spend” Cryptocard Work?
The mechanism consists of three main components:
On-Chain Yield Protocol
After the user enables yield, the card account balance participates in long-tested, blue-chip DeFi yield protocols, such as AAVE, Compound, Morpho, Sky and more, achieving stable asset growth (APY starting from 3%, subject to market conditions and is not guaranteed).
Yield sources, contract addresses, and operational logic are executed on-chain and can be independently verified by the user.

Real-Time Payment System
When a user makes a purchase, payments are deducted from the available card balance.
Balances that have enabled yield continue to generate returns according to the protocol, without being interrupted by spending.
The payment process requires no extra steps, allowing transactions and yield accumulation to run in parallel.
Security and Transparency
All operations are executed on-chain, ensuring transparency and security:
Card account balances and yield status are always viewableYield sources and settlement logic are publicly verifiableUsers retain full control over whether to enable yield
How Is It Different from Traditional Crypto Cashback Cards or Staking?

Traditional crypto cards typically provide a small percentage of cashback, while staking requires locking assets with risks and unlock periods. The On-Chain Yield Card allows funds to earn yield while remaining accessible, but requires the user to activate the yield feature.

Who Is This Card For?
The BenPay On-Chain Yield Card is ideal for:
Users who want to make idle crypto assets work for themThose with frequent fiat or crypto payment needsUsers who value transparency and the ability to withdraw anytimePeople who don’t want to lock funds in staking protocols
Especially suitable for:
Users who want to spend crypto anytimeUsers who prefer automatic yield management without manual stakingUsers who want to maximize returns while maintaining flexibility
BenPay On-Chain Yield Card FAQs
Is earning on the BenPay On-Chain Yield Card automatic?
No. Earning is generated only after the user manually activates the “Earn” feature. Before activation, the card account balance does not participate in any on-chain yield protocols, and funds are never automatically deployed.
Are funds locked after enabling on-chain yield?
No. Enabling on-chain yield does not lock funds or restrict spending. Users can continue making payments at any time without redeeming or pausing yield, with no lock-up or unbonding period.
What is the difference between an on-chain yield card and staking?
Staking requires locking assets, while an on-chain yield card keeps funds fully liquid. Yield on the card is optional, user-activated, and does not limit payment usage, unlike traditional staking mechanisms.
Is on-chain yield risk-free?
No. On-chain yield involves risks associated with DeFi protocols. These include smart contract risk, protocol-level market risk, and asset price volatility. Transparency does not eliminate risk, and users should decide independently whether to enable yield.
Who is an earn-while-you-spend crypto debit card suitable for?
It is best suited for users who want to earn yield on idle crypto while retaining full spending flexibility. Users who prefer fixed returns or fully regulated traditional financial products may find this model unsuitable.
Conclusion
An on-chain yield card is not designed to replace banks or staking — it redefines how funds behave while being used. Traditionally, money is either spent or invested. The BenPay On-Chain Yield Card introduces a different approach: allowing funds to remain spendable while optionally earning yield — without lock-ups. Only when the user explicitly enables yield do funds continue to generate on-chain earnings while being used for payments, according to transparent on-chain protocol rules.
For users who value:
Liquidity without sacrificing on-chain yields potentialTransparent, on-chain–verifiable mechanismsFull control over whether yield is enabled
The BenPay Crypto Debit Card offers a new “earn-while-you-spend” experience that differs fundamentally from crypto cashback cards or staking products.

Risk Disclaimer
This article is for informational purposes only and does not constitute investment advice or a guarantee of returns. On-chain yield is generated through DeFi protocols, and returns may vary depending on market conditions. Users retain full discretion over whether to activate the yield feature and assume responsibility for their decisions. Cryptocurrency assets are subject to price volatility. Please ensure you understand product mechanics and associated risks before participating.

#加密市场观察 #加密

Introduction
As the DeFi ecosystem continues to mature, opportunities to earn on-chain yield are no longer scarce. What truly holds users back is not the lack of opportunities, but the barriers to participation. Opaque protocol mechanisms, highly specialized rules, unclear fund flows, and complex operational steps often discourage users. Even when users recognize that their assets could be deployed more efficiently, many still choose to wait on the sidelines or leave funds idle for extended periods.
To address these challenges, BenPay launched DeFi Earn in late September 2025 as a unified gateway to multi-chain DeFi protocols. Without mastering complex interactions, users can seamlessly connect their assets to protocols such as Solana, Compound, and AAVE, enabling efficient on-chain yield generation. Since launch, DeFi Earn has received strong market feedback. As of January 2026, assets allocated to the Solana protocol within BenFen have reached 10.75M BUSD, while total network deposits have exceeded 20.73M USD, accounting for nearly half of all on-chain holdings—demonstrating the high utilization and adoption of BenPay DeFi Earn.

To further enhance user experience and accommodate diverse risk preferences and liquidity needs, BenPay DeFi Earn now officially introduces four new investment targets: Morpho USDC, Morpho USDT, Sky USD, and Ethena USDe, offering users more flexible and diversified on-chain growth options.
I. The Goal of BenPay DeFi Earn: Transparent, Simplified, and Diversified Yield Experiences
Since its launch, BenPay DeFi Earn has focused on improving user experience through on-chain transparency, simplified operations, and diversified yield strategies.
On-Chain Transparency and Traceability: Building User Trust
For every investment target on BenPay DeFi Earn, asset flows and yield sources can be verified on-chain in real time. User funds always operate directly within the underlying protocols. BenPay does not custody, touch, or reallocate user assets at any point. This design reflects BenPay’s commitment to the BenFen self-custody model: users always retain control of their private keys, and all fund movements remain transparent and traceable on-chain.
Simplified Operations and Optimized UX: From Complexity to One Click
The operational threshold remains a major pain point in DeFi. Traditional participation often involves multiple steps such as cross-chain bridging, protocol interactions, and yield compounding. BenPay DeFi Earn abstracts these processes into the backend. Users simply select an investment target and deposit with one click. The system automatically handles cross-chain transfers, protocol interactions, and yield accumulation—making on-chain yield participation more intuitive and accessible.
Diversified Yield Strategies: Matching Multi-Dimensional Needs
Rather than focusing on a single yield type, BenPay DeFi Earn offers a strategy matrix that caters to different risk appetites, liquidity requirements, and ecosystem preferences:
Conservative strategies: Compound USDC/USDT Earn and AAVE USDC/USDT Earn, offering relatively stable returns and high liquidity for users prioritizing capital preservation and low volatilityGrowth-oriented strategies: Solana USD Earn, built on high-yield Solana ecosystem protocols, have higher potential returns and are suitable for users with higher risk tolerance seeking growth potential
While Solana, Compound, and AAVE provide on-chain yields, they also have limitations. Solana offers higher returns but requires a 10-day redemption period, which may not suit users with higher liquidity needs. Compound and AAVE deliver stable returns, but may not satisfy users seeking higher yields during volatile market conditions. To further enhance the product experience, BenPay DeFi Earn introduces four additional yield options to expand user choice.

II. Detailed Explanation of the Four New Targets in BenPay DeFi Earn: A DeFi Protocol Choice for Stable Returns
The four newly added investment targets are selected from mainstream DeFi protocols that have long operated and are widely used in the Ethereum ecosystem. These protocols have operated for extended periods, manage tens of billions of dollars in on-chain assets, and feature transparent mechanisms with publicly verifiable track records. For users, this not only lowers the threshold for understanding and participation but also, to a certain extent, reduces the uncertainty brought about by the immaturity of protocols, making asset operations more reassuring and predictable.
Morpho USDC Earn: Institutional Risk Control + On-Chain Lending Interest
Morpho USDC Earn investment target closely resembles a traditional financial activity: lending funds to borrowers with real demand and earning interest. The difference lies in its on-chain execution via Morpho’s Vault model. Instead of pooling funds into a single mixed-liquidity pool, users' USDC are deposited into professionally managed lending vaults. Funds are allocated only to whitelisted institutional borrowers or decentralized protocols that pass strict screening criteria.
Interest paid by borrowers continuously accrues to the vault, increasing its total value and, in turn, the value of each vault share. Under current market conditions, this target offers an annualized yield of approximately 4.09%, primarily derived from stable lending interest.
As funds operate within highly liquid on-chain lending markets, the product supports instant deposits and redemptions, balancing liquidity with steady yield accumulation. All lending relationships, fund flows, and yield sources are verifiable on-chain—combining institutional-grade risk management with on-chain transparency.

Morpho USDT Earn: Algorithm-Driven Dynamic Lending Returns
Morpho USDT Earn is also built on Morpho’s lending framework, but differs noticeably from Morpho USDC Earn in both yield behavior and user experience. From a user perspective, the USDC Earn emphasizes relatively stable returns with a clear and predictable interest structure, while the USDT Earn more directly reflects changes in market liquidity supply and demand, resulting in slightly higher yield elasticity.
At the mechanism level, Morpho USDT Earn dynamically adjusts lending parameters through algorithmic models. All loans are fully overcollateralized, with collateral assets selected via risk models developed by the professional risk management firm Gauntlet. Only assets with sufficient liquidity and clearly defined risk profiles are accepted, allowing interest rates to adjust naturally with market conditions while keeping risk under control.
Under this model, user returns are still derived from real interest paid by borrowers, but rates fluctuate in response to market demand for USDT liquidity. Under current conditions, the annualized yield is approximately 3.55%. As demand for capital increases, yields rise; when demand eases, returns adjust downward.
From a user's perspective, there is no need to understand complex collateral ratio calculations or liquidation mechanics. Assets are continuously deployed under robust safety mechanisms and accrue interest over time, while supporting instant deposits and redemptions—making this option well-suited for users who want to maintain capital flexibility while participating in market-responsive yield opportunities.

Sky USD Earn: The Closest Form to an “On-Chain Savings Account”
Sky (formerly MakerDAO) is a core piece of infrastructure within the stablecoin ecosystem. Its yield model does not rely on allocating user funds to a single asset strategy. Instead, returns are distributed to participants through protocol-level mechanisms that allocate system-wide revenue according to predefined rules. These revenues are primarily generated from yields on U.S. Treasury investments and interest accrued through on-chain lending and stablecoin issuance.
After depositing funds, users receive an accumulating deposit certificate whose quantity remains constant, while its exchange rate against USD increases monotonically over time. Under current conditions, this investment target offers an annualized yield of approximately 4.04%, characterized by steady accumulation with relatively low volatility.
Because returns are settled and distributed at the protocol level—rather than through high-frequency operations or complex strategies—users do not need to actively manage positions or closely monitor market movements. With support for instant deposits and redemptions, the overall experience closely resembles a clearly structured, operationally stable form of on-chain yield.

Ethena USDe Earn: Strategy-Based Yield from Market Structure
Ethena USDe Earn target does not generate returns by lending funds to borrowers. Instead, it derives yield from the structural mechanics of the crypto market itself. USDe is a synthetic dollar whose underlying design is primarily built around major crypto assets such as Ethereum (ETH). The system holds these spot assets while simultaneously hedging price exposure through corresponding futures positions, aiming to minimize the impact of price volatility and focus returns on market-generated funding rates.
Under this structure, the system continuously captures funding fees from the derivatives market. In addition, the underlying Ethereum assets also generate staking rewards. In the current market environment, this investment target offers an annualized yield of approximately 4.79%, with returns driven more by market structure than by directional price movements.
Because this strategy requires orderly position adjustments and settlement cycles, redemptions typically involve a processing period of approximately 10 days. This timeline is inherent to the strategy’s operational design rather than an externally imposed restriction, making the product more suitable for users with lower liquidity requirements who are seeking strategy-based yield exposure.

Overall, these four newly added investment targets are not designed to pursue short-term, high-volatility returns or overly complex structures. Instead, they represent several yield pathways that have been repeatedly validated within today’s DeFi ecosystem: on-chain lending models grounded in real borrowing demand and emphasizing institutional-grade risk management and liquidity; protocol-level systemic revenue distribution generated through ongoing protocol operations; and strategy-based approaches that capture yield from market structure and fee dynamics.
By integrating these mature mechanisms into a unified entry point, BenPay DeFi Earn aims to enable users to select more suitable on-chain participation methods based on their own asset characteristics—without requiring deep, protocol-level research or complex operational knowledge.
Note: Annualized yields are based on historical performance and may vary with market conditions.
III. How to Choose: Matching Funds Characteristics, Not Just Yield Rates
After understanding the yield logic of each investment target, the key question is not “which yields more,” but rather: which best fits how you intend to use your funds.
Different investment targets differ fundamentally in their sources of yield, usage scenarios, and asset liquidity. Some prioritize instant access and high liquidity, others are better suited for long-term allocation with low management frequency, while certain strategies rely on specific market structures and therefore have inherently different redemption rhythms.
To help users quickly form a clear decision framework without diving into protocol-level details, the following section provides a side-by-side comparison of BenPay DeFi Earn’s existing core products and the newly introduced yield options—across dimensions including yield source, APY, investment assets, interest accrual, redemption time, and suitable use cases.

Annualized yields reflect historical ranges and may vary with market conditions.
IV. Future Evolution: One-Click Access to BenPay’s One-Stop On-Chain Financial Experience via DeFi Earn
As on-chain yield evolves from a feature used by a small subset of users into a broadly adopted tool, user attention shifts from simply asking “Is there any yield?” to “Is it stable, easy to use, and sustainable?” In response to this trend, BenPay has not attempted to cover every complex DeFi scenario. Instead, DeFi Earn serves as the core entry point, integrating on-chain yield seamlessly into everyday asset management. The introduction of these four new investment targets represents a milestone in BenPay’s ongoing efforts to optimize user experience and enhance product functionality.
From a product design perspective, the addition of these new investment targets reflects BenPay’s long-term vision for the evolution of DeFi Earn. On the one hand, introducing investment targets with different yield mechanisms reduces reliance on a single yield path. On the other hand, the selection process emphasizes redemption efficiency, clarity of yield sources, and overall predictability, not only expanding the options but also continuously enhancing the robustness and usability of DeFi Earn.
In terms of user experience, DeFi Earn continues to prioritize simplicity. Users can deposit, redeem, and track yields through a unified interface without needing to understand underlying protocol differences. Complex protocol selection and risk structures are integrated and presented in the backend, making the on-chain yield a practical asset-allocation tool for everyday use rather than a feature reserved for advanced users.
Moreover, DeFi Earn is no longer an isolated yield module—it has become a key entry point in BenPay’s full-stack product ecosystem. Centered around the core needs of earning, asset flow, and security, BenPay is integrating on-chain yield with payment, trading, and liquidity tools:
BenPay On-Chain Yield Card allows account balances to continuously earn yield during everyday spendingBenPay DEX provides efficient, low-fee decentralized tradingBenPay Lending unlocks capital liquidity via decentralized collateralized loansLeveraging BenFen’s privacy payment capabilities, BenPay further enhances security and privacy across fund flows
If DeFi Earn serves as the gateway into BenPay, the broader product ecosystem connects on-chain yield, asset circulation, and everyday usage, gradually building a more stable, user-friendly, and practical one-stop on-chain financial experience.

Summary
With the addition of Morpho USDC, Morpho USDT, Sky USD, and Ethena USDe Earn investment targets, BenPay DeFi Earn further expands users’ on-chain growth options. As DeFi enters a new phase of institutionalization and sustainable yield, BenPay remains committed to non-custodial design, one-click access, and on-chain transparency—offering a low-barrier, high-efficiency unified entry point.
Whether you are a conservative user seeking instant liquidity and principal security, or an ambitious participant willing to embrace innovative market strategies for potentially higher returns, these four new investment targets precisely address diverse user needs, allowing idle assets to grow quietly and efficiently without complex operations.
Looking ahead, BenPay DeFi Earn will continue to integrate leading protocols, refine product design, and enhance the user experience—helping users capture on-chain opportunities with ease.

Important NoticeAlthough the above-mentioned protocols have undergone multiple rounds of audits and have been in operation for a long time in practical applications, all on-chain protocols still face risks, including smart contract risks, market fluctuation risks, and uncertainties regarding mechanism adjustments.BenPay provides protocol access and operational integration services only and does not guarantee protocol performance. Users should make independent decisions based on their own circumstances and risk tolerance.
#BenPay

Khi tiền mã hóa phát triển từ một mục tiêu đầu tư thành một công cụ thanh toán, một câu hỏi mang tính nền tảng hơn nảy sinh: Thẻ tiền mã hóa trong tay chúng ta chỉ đơn thuần là một kênh chi tiêu, hay nó thực sự là một động cơ tài sản tự sinh sôi?
Hãy tưởng tượng tình huống này: Bạn có 5.000 USDT đang nằm trong thẻ của mình, chờ đợi cho chuyến đi công tác tiếp theo, đặt phòng khách sạn, hoặc chi phí hàng ngày. Trong suốt 60 ngày đó, bạn chưa sử dụng nó, và nó đã không làm gì cả. Vấn đề không nằm ở việc bạn có chi tiêu hay không, mà ở chỗ: số tiền 5.000 USDT này có thể tiếp tục sinh lời trong khi “đang chờ được dùng”.

【January 8, 2025】According to an official announcement, BenPay DeFi Earn has officially launched four new investment targets: Morpho USDC, Morpho USDT, Sky USD, and Ethena USDe, further enriching users’ secure and stable asset growth options in the DeFi space.
All new investment targets are selected from DeFi protocols with on-chain verifiable mechanisms, covering a range of yield-generation models. The relevant yield data is public and transparent; however, actual performance may vary based on multiple factors, such as on-chain interest rates, capital utilization, overall market conditions, and more, and will adjust dynamically as market conditions change.
Morpho USDC Earn: Institutional-grade vault management with funds allocated to compliant borrowers. Earnings grow automatically with interest, with an approximate APY of 3.79%.Morpho USDT Earn: Efficient matching via smart algorithms; all loans are fully collateralized. Earnings fluctuate with market demand, with an approximate APY of 3.58%.Sky USD Earn: Backed by U.S. Treasuries and on-chain credit businesses. Deposit certificates are accumulative assets whose value increases over time, with an approximate APY of 4.5%.Ethena USDe Earn: Based on a spot-perpetual arbitrage strategy, designed for steady growth, with an approximate APY of 5.1%.
Actual APYs are subject to market fluctuations; the above figures are for reference only.
This update complements BenPay DeFi Earn’s existing investment targets—such as AAVE, Compound, and Solana—by covering multiple yield mechanisms to meet diverse risk preferences and asset growth needs. Through a single unified interface, BenPay, users can complete cross-chain transfers, deposits, and redemptions, simplifying on-chain participation and complexity while ensuring full asset traceability and true user control.
In the future, BenPay will continue to expand high-quality DeFi options, focusing on the three core pillars—protocol security, on-chain transparency, and capital efficiency - to continuously refine its products and user experience.
#BenPay

Theo Chainalysis, vào năm 2025, hơn 3,4 tỷ đô la giá trị tiền mã hóa đã bị đánh cắp, và các vụ đánh cắp ví cá nhân tăng vọt lên 158.000 trường hợp, chủ yếu do rò rỉ khóa riêng tư và các vấn đề liên quan đến nền tảng tập trung. Khi ví tiền mã hóa phát triển từ những công cụ chỉ đơn thuần là “lưu trữ” thành các nền tảng tích hợp cho thanh toán, phân bổ tài sản và sinh lợi, các thẻ sinh lợi trên chuỗi đang thu hút ngày càng nhiều sự chú ý.
Tuy nhiên, đối với người dùng mới, câu hỏi quan trọng nhất vẫn là: Thẻ sinh lợi trên chuỗi có an toàn không? Nói một cách đơn giản, không có câu trả lời tuyệt đối cho việc “hoàn toàn an toàn” hay “hoàn toàn không an toàn”. Độ an toàn của chúng chủ yếu phụ thuộc vào ba yếu tố: liệu tài sản có được tự quản lý hay không, lợi tức có thể xác minh được trên chuỗi hay không, và liệu tài sản có thể tiếp tục sinh lợi mà vẫn hoàn toàn sẵn sàng để thanh toán hay không.

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.

Trong thế giới tài chính truyền thống, việc kiếm lãi từ tiết kiệm thường có nghĩa là gửi tiền vào ngân hàng và chấp nhận các tỷ lệ lãi suất tương đối thấp. Trong không gian tài chính phi tập trung (DeFi), tuy nhiên, bất kỳ ai cũng có thể trở thành "ngân hàng" của riêng mình bằng cách gửi tiền điện tử vào các giao thức trên chuỗi để tiếp cận trực tiếp các tài sản có lợi suất cao hơn. Nếu bạn đang tò mò về "thu nhập DeFi" nhưng không chắc chắn bắt đầu từ đâu, bài viết này cung cấp một hướng dẫn rõ ràng, an toàn cho người mới bắt đầu, cùng với một giới thiệu về cách các nền tảng đổi mới như BenPay có thể giúp bạn thực hiện bước đầu tiên một cách dễ dàng.

Want to earn passive income with crypto but feel overwhelmed by complex DeFi protocols, high gas fees, and security risks? You're not alone. The promise of DeFi earnings is compelling, but the path to getting started is often riddled with technical barriers. This guide breaks down exactly how passive income with DeFi works in 2025 and introduces a simplified, secure way to generate yield—without needing to become a blockchain expert overnight.
What is Passive Income in DeFi (And Why It Matters)
In the traditional financial world, passive income might come from rental properties or stock dividends. In decentralized finance (DeFi), it refers to the yield or interest your crypto assets can earn simply by being put to work on the blockchain.
Understanding On-Chain Yield vs. Traditional Savings
When you deposit money in a savings account, the bank lends it out and gives you a small fraction of the interest. DeFi flips this model. By using smart contracts, you can directly lend your assets to others, provide liquidity for trading pairs, or stake in secure networks. In return, you earn a yield, often significantly higher than traditional banks, because you're cutting out the middleman. This is the core of earning from DeFi.
The Rise of Accessible DeFi in 2025
The narrative has shifted. DeFi crypto earn opportunities are no longer just for technical traders. In 2025, the focus is on accessibility, user experience, and integrated security. Products are being built to abstract away the complexity, allowing anyone with a smartphone to tap into the potential of on-chain stablecoin yield and other earnings.
The Main Challenges for Beginners Wanting DeFi Earnings
The potential is vast, but the initial hurdles are real. Here are the key pain points new users face:
Why Is DeFi So Complicated for New Users?
Complexity and Technical Barriers
Navigating a DeFi staking platform or liquidity pool requires understanding wallets, transactions, approvals, and concepts like impermanent loss. One wrong click can lead to lost funds. For someone looking for simple best DeFi earnings, this learning curve is the biggest deterrent.
Is DeFi Passive Income Safe?
Security Concerns and Protocol Risks
The "do your own research" (DYOR) mandate is heavy. Beginners must audit smart contract code, assess team credibility, and monitor for exploits. The fear of placing funds into a fraudulent or poorly audited protocol is a significant barrier to starting DeFi crypto earn activities.
Do Gas Fees Reduce DeFi Profits?
High Gas Fees That Eat Into Profits
Every transaction on a blockchain—depositing, claiming rewards, withdrawing—costs a "gas" fee. For smaller investments, these fluctuating fees can completely erase any profit, making earning interest on crypto strategies inefficient.

ChallengeTraditional DeFi OperationThe BenPay DeFi Earn SolutionComplexityMulti-step processes across different protocols; requires deep understanding.One-click deposit into curated DeFi strategies; a unified, simple interface.Gas FeesPaid for every transaction, significantly reducing net profits, especially for small sums.0 Gas Fee Model. Operations are batched by the platform, saving your cost.Risk ManagementUser must independently research and audit each protocol.Pre-vetted Protocols. Strategies are built on audited, reputable protocols with clear risk levels.AccessibilityFragmented experience across multiple websites and apps.All-in-One App. Earn, store, and spend from a single, cohesive BenPay Web3 Super App.
How BenPay DeFi Earn Simplifies On-Chain Yield
BenPay DeFi Earn is a beginner-friendly DeFi earn platform designed to provide a seamless experience for earning passive income with DeFi. It functions as a yield aggregator, allowing users to have access to curated DeFi protocols through a single interface.

One-Click Yield Generation
Gone are the days of manual protocol hopping. You simply click, and select a DeFi protocol that matches your risk preference, and deposit. The complex interactions with the underlying cross-chain and exchange operations are handled in the background, making earning passive income with DeFi as simple as a few taps.
Zero Gas Fee Architecture
One of the standout features for anyone looking to earn from DeFi efficiently. BenPay's infrastructure aggregates user transactions, meaning you don't pay network gas fees for deposits or withdrawals. What you earn is much closer to what you keep, maximizing your DeFi crypto earn potential.
Curated & Risk-Verified Protocols
Security is paramount. The team behind BenPay DeFi Earn does the heavy lifting of due diligence, selecting only top DeFi protocols (like Solana, AAVE, and Compound) with strong security audits and proven track records. This provides a crucial safety layer for beginners seeking the best DeFi earnings without the research burden.
Multi-Chain Support for Diverse Assets
Your assets aren't limited to one blockchain. BenPay DeFi Earn connects to yield opportunities across multiple networks, allowing you to earn interest on crypto wherever it resides, maximizing your options for earning passive income with DeFi.
Step-by-Step: How to Start Earning with BenPay DeFi Earn
Getting started with your passive income with DeFi journey is straightforward and secure. Here’s how beginners can earn passive income with DeFi using BenPay in 4 simple steps:
Create & Connect Your Wallet
If you don't have one yet, start by creating your BenPay wallet. We recommend a seamless login via email, zkLogin, Google, or Apple account. Simply visit the BenPay official website, click “Connect Wallet,” and follow the prompts. Your gateway to DeFi crypto earn opportunities begins with this secure, all-in-one Web3 Super App. (For detailed instructions, refer to our guide: How to Create Your BenPay Wallet?)

Deposit Stablecoins for Investment
Once connected, prepare your capital. You can directly deposit USDC or USDT into your BenPay wallet from multiple supported networks including ETH, BSC, Polygon, and Solana. These are seamlessly converted at a 1:1 fixed ratio into BUSD — a dollar-pegged stablecoin issued by BenFen—ready to generate stablecoin yield. The minimum investment starts from 100 BUSD.
(Learn more about the process: How to Make a Cross-Chain Deposit?)

Choose Your Investment Product
Navigate to the DeFi Earn platform. Browse the list of available yield products, each representing a curated DeFi staking platform strategy. Select the product that matches your risk preference and return expectations, and click the “Invest” button to proceed.

Confirm and Start Earning
A confirmation window will pop up. Enter the amount of BUSD you wish to invest, click “Confirm,” and authorize the transaction with your wallet password. Once confirmed, your assets immediately begin working. You can then monitor your accumulated DeFi earnings in real-time within your BenPay dashboard.

Important Note: This process is designed for simplicity and accessibility, abstracting away the complex mechanics of underlying DeFi protocols. Returns are variable; APY figures are based on historical data and do not guarantee future earnings.

Realistic Earnings: A Sample Scenario
Let's make it tangible. Imagine you want to start earning a stablecoin yield with a moderate-risk profile using a reliable DeFi Earning.
Asset: You deposit 5,000 USDT into a BenPay DeFi Earn product.Estimated APY: The product shows a historical APY of 13.84%.Potential Earnings: At this rate, you could earn approximately 57.67 USDT in interest after one month, or about 692 USDT over a year, not accounting for compounding. This demonstrates the real potential of earning passive income with DeFi.The Power of Compounding: If you reinvest your earnings, your growth accelerates over time, creating a powerful cycle of DeFi crypto earn potential.

Important Note: This is an illustrative example based on historical data. APYs in DeFi are variable and not guaranteed. Always understand that yields can fluctuate with market conditions when pursuing the best DeFi earnings opportunities.
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And once you're earning a yield, discover how to use it effortlessly in the real world with the BenPay Card—completing your all-in-one Web3 financial ecosystem for earning, storing, and spending.
Risk Disclosure:This content is for informational purposes only and does not constitute financial advice. Any mentioned returns (e.g., APY) are based on historical data and are not indicative of future performance. Please conduct your own research (DYOR) before investing.