What is interest and how is it paid?
When you deposit coins to EarnPark and earn up to 30% APY, you gain interest. The minimal deposit term is one day and the maximum is unlimited. Your EarnPark Interest Account works as a bank deposit and enables you to earn up to 30% annual interest just for depositing supported assets.
How can I receive daily earnings?
Your deposits earn daily interest. Just by depositing your crypto, the earnings payout will arrive in your account every day on a 24-hour basis.
Rewards are accrued every day at 03:00 AM GMT, based on the average daily balance.
If you still haven't received the payout, check if you have enough balance to receive the payout here: Fees, commissions, limits >>
Sometimes due to technical reasons payments can be delayed, be assured we are already working on it.
Does the Interest accrue in the same currency in which the deposit is made?
Yes, the interest is paid in the currency of your deposit.
EarnpPark makes interest payments in the original currency of your deposit. If you deposit ETH, you get paid in ETH.
How to calculate the daily interest rate?
First, divide your deposit’s annual percentage rate (APR)* by 365 to determine the amount of interest that accrues on a daily basis.
Say you own 10,000 USDC tokens with 20% annual interest. You'd divide that rate by 365 (0.2 ÷ 365) to arrive at a daily interest rate of 0.0005479452055, which is approximately 5.5 USDC per day.
Compound interest means that we add the interest you earn to the principal deposit amount for you to earn interest on reinvested interest. The longer you hold your asset on your Interest Account, the more you get on the previously accumulated interest.\
Can interest rate change (APY / APR)?
We will continue iterating (increasing and decreasing) rates based on the market. This is the necessary instrument to sustain our system’s health.
However, we strive to offer the highest possible profitability for our clients, keeping the rate the highest in the market. At the very least, we will warn you about the decline before the start of next month. The ultimate goal is to keep APY maximum and unchanged.