Traditional bank accounts have a low rate of interest. Lending protocols on the Ethereum blockchain do not.

Currently, the industry average bank accounts interest rate is 0.09%.The current average for lending using Outlet is 13%.

There are a few clear advantages to getting returns on your USD using a lending protocol. Outlet.Finance allows for anyone to hook up an existing bank account and plug it into these much higher interest rates.

What is Outlet, and how does it work?

Outlet is a cryptocurrency finance company that specializes in connecting USD to blockchain assets. Outlet’s main product is its high-interest rate money holding accounts. They work very similarly to a bank account, in the sense that you store your dollars inside of it and withdraw at any point.

We are able to give you such a high rate of return on your deposited dollars because of how we manage your funds. When you deposit money in your outlet account there are a few things happening in the background that allow us to achieve this high rate of return.

What goes on in an outlet?

Depositing your money in your Outlet buys a stable coin. A stable coin is a cryptocurrency that is pegged 1:1 to 1 USD. These tokens are on the Ethereum blockchain. These dollars are just as good as your cash.

In order to achieve our high rate of interest, we need to utilize blockchain technology If you want to know the details you can talk to the Outlet.Finance team in discord. The technology allows us to integrate our react.js application to open-source protocols that are algorithmic, efficient money markets on the Ethereum blockchain.

Lending Protocols such as Dharma, Compound, and DY/DX all live on Ethereum. Outlet is the company connecting these protocols to traditional markets.