REINNO, a fintech company that offers a real estate-based tokenization solution, has partnered up with MakerDAO to offer investors the option to earn interest on their Dai holdings.
Dai is the first and most popular cryptocurrency-backed stablecoin, which is directly and transparently pegged to USD (1 Dai always aims to be $1). The stablecoin is backed by ETH collateral, but its most prominent feature is its decentralized nature i.e. the balance is kept by self-governing smart contracts as opposed to relying on third parties as is the case with Tether.
Depending on the earning period, which is selected by users, up to 8% yearly interest rate can be collected on the REINNO platform. Interest positions can be canceled at any time and withdrawn to users’ own wallets.
Additionally, REINNO doesn’t charge any fees for moving Dai in and out of interest-earning wallets.
Viktor Viktorov, CEO and co-founder of REINNO, commented on the new investment opportunity:
“Our team is excited to see the new functionality come to life. We are sure that REINNO’s interest-earning accounts will help Dai holders to leverage their assets and earn passive income in an easy, flexible and secure way.”
Dai’s stability was heavily tested and proven during the continual crypto market crash of 2018. As ETH lost most of its value, dropping from an all-time-high of $1,350 to less than $100, Dai remained stable, always close to that $1 target.
The addition of an interest-earning product to REINNO is built to complement the ecosystem, providing funds used for overcollateralized loans that are backed by tokenized real estate.
“REINNO is on a mission to deliver innovative, customer-centric fintech products. The interest-earning accounts will bolster our core offering and further define our footprint in financial services,” added Viktorov.