PennyWorks is an investment platform that allows you the opportunity to earn money through collateralized lending without knowing anything about Decentralized Finance (DeFi) or cryptocurrency lending. With these loans, you can get higher returns than you would get from a savings account but without the risk of investing in digital assets.
PennyWorks seeks to revolutionize traditional financial products through the implementation of digital asset strategies designed to preserve capital and generate yield. They built a system that delivers low-risk daily returns through the use of DeFi lending platforms.
Read further to learn how it works.
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PennyWorks Features
PennyWorks offers you a way to begin taking advantage of high yields from collateralized lending of digital assets in a low-risk environment. These investments have the potential to help you earn up to 6% APY depending on the amount of money you invested and how long you kept the funds in your account.
This is how it works:
- You subscribe to PennyWorks Notes with US dollars.
- PennyWorks converts those US dollars into stablecoins pegged to the US dollar.
- Stablecoins are lent out via collateralized loans, which generate a high yield with low risk.
- Interest is earned based on the amount invested and the length of time between redemptions.
PennyWorks Notes pay daily interest and have no lock-up periods or fees. Funds are used to generate yield by participating in pooled, over-collateralized loans, on a variety of digital assets and digital lending platforms. Due to the highly liquid nature and global 24/7 trading of these digital assets, the collateral backing the loan can be liquidated before the threat of default occurs, offering a significant advantage over traditional assets.
You can also receive content and insights on market moving events of the day through regular updates from the executive team, which have decades of financial markets experience having served as senior portfolio and risk managers across core banking and trading functions within banks and sophisticated trading firms.
Lastly, PennyWorks members have exclusive access to “Ask Penny” questions regarding any economic, finance, or crypto topic of the day which will be answered by a member of the executive team via askpenny@pennyworks.com.
For particularly challenging questions, the team may reach out to industry veterans for their unique insights on the topic.
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Amount of Interest You Can Earn
With PennyWorks, you can request funds back anytime with no lock-up periods, which alleviates some investors’ concerns about crypto lending. But you can earn a higher interest if you keep your funds in your PennyWorks account longer.
Two factors determine the interest rate you’ll earn on your assets: 1) the amount you invested (prior day’s end-of-day outstanding principal amount) and 2) the amount of time since your last redemption request. Here is the APY you will earn based on those two factors.
| Days since the last redemption request | $500 to $99,999 | $100,000 to $299,999 | $300,000 and more |
| 0 to 29 days | 4.00% | 4.50% | 5.00% |
| 30 to 89 days | 4.25% | 4.75% | 5.50% |
| 90 days or more | 4.50% | 5.00% | 6.00% |
You need to invest a minimum of $25,000 to earn these rates. If you have less than $25,000 invested, you will earn a flat rate of 0.5% APY.
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Bottom Line
PennyWorks Notes are as liquid as money market funds, but with higher yields. They are an alternative to the disappointing yields and high risks associated with traditional investing.
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