Crypto investment startup, Flint, has embarked on beta testing its high-yielding passive income product. The company focuses on giving investors alternative exposure to cryptocurrencies without investing in crypto directly. In particular, it targets those who would like to benefit from the crypto market but are jittery of price volatility or lack market knowledge.
About the high yield product
To cushion investors from losses characterized by crypto market volatility, Flint will strictly use stablecoins. In addition, the company will target specific DeFi protocols to optimize returns while reducing risk. The approach will ensure the sustainability of the reward system, considering that it offers up to a 13% annual yield. Stablecoins are pegged to $1, making them an appropriate hedge against crypto volatility. The company has begun offering the service in India, with customers allowed to transact using the rupee. Ultimately, Flint targets to spread its wings worldwide, aiming at a total user base of 500 million. Flint has a medium-term plan to spend about $500 million on its growth strategy. The company has identified Solana as the most suitable platform to launch its high yield program. The decision was informed by Solana’s high transaction speed and low transaction costs.
The best part is that Flint achieves all of these for our users without them having to break their heads on active crypto trading or price movements.”
Flint Co-founder, Anshu Agrawal
According to Flint Co-founder Anshu Agrawal, the startup targets users with idle cash or stablecoins but are interested in earning above conventional investments. Solana Foundation Co-advisor Akshay BD expressed his delight at working with a startup. He added that as crypto becomes increasingly adopted, stablecoin yield products offer new users an excellent entry point.
What’s in it for investors?
Apart from the high annual yield, investors will benefit from the flexibility of the reward system. First, users have the freedom to withdraw their funds at any time without incurring a fee. Secondly, there is no requirement for a lock-in period. Another benefit for users is that Flint will conduct its due diligence on the best DeFi protocols to invest in. That gives users peace of mind, and helps them avoid the rigors of market research. The company is better placed to conduct a thorough market analysis. It will combine expertise in Fintech with crypto market knowledge. During the current beta testing period, users also can earn on the deposits made through referrals. Flint has developed a mobile application through which users will access its products.
Founded in 2021, Flint is a crypto-centric startup offering alternative exposure to the global crypto market. It is primarily a passive crypto investment platform, hosted on a mobile app. Furthermore, the company has attracted great attention from leading names in the VC world. Seven days ago, Flint announced the closure of a successful funding round that raised $5.1 million from venture capitalists and over 60 angel investors.
Going forward, Flint plans to mint its own tokens on the Solana blockchain and curate its NFTs. That will create an additional revenue stream for the company.