LandedFX Earn, in beta
Earn on your USDC.
Your money stays USDC on Base, and you can withdraw it any time. Today it earns dollar lending yield. Naira carry, which pays more for taking naira risk, is being added with strict limits.
- Earning now, after fees
- Total deposited
- Withdrawable now
- Room left in the beta
Where your money goes
Your USDC
Deposit from your wallet, from any chain, or with a card. It stays USDC the whole time.
The vault on Base
A public smart contract holds the money. You can withdraw any time, and LandedFX can only move it into the approved strategies on the right.
Dollar lending
Starts Nov 9Lent through Spark to borrowers who lock up crypto as collateral. Earns about 0.6% a year right now.
Naira carry
Being builtUp to 30% of the vault earns the naira's higher rate through on-chain futures: about – a year while the naira holds, a loss if it falls further than priced.
What the strategies earn comes back into the vault, so your balance grows without you doing anything.
What could happen to $1,000 in a year
Naira carry pays well because it takes naira risk. Drag to see what each option returns if the naira strengthens, holds or falls over the year.
Keep it in a wallet
Nothing earned, nothing at risk
$1,000.00+$0.00
Earn, today
Dollar lending only, about 0.6%
$1,006.00+$6.00
Earn, with naira carry
30% of the vault in naira carry
$1,037.20+$37.20
- Break-even: the naira can lose about 11% in a year before the naira carry mix loses money.
- If the naira halved: you would be down about 13%, because only 30% of the vault takes naira risk and nothing is borrowed.
An illustration with today's rates: dollar lending at 0.6%, naira carry priced at 11.0%. Rates change every day, and naira carry is not live yet. In 2023 and 2024 the naira lost more than half its value against the dollar.
What the contract guarantees
- You can always withdraw. Pausing stops new deposits only.
- Money moves only between the vault and strategies approved in advance.
- New strategies and higher fees wait 2 days before they apply, so you can leave first.
- Fees are capped in the code at 2% a year and 20% of gains.
Fees now: –. See the contract
What can go wrong
- The vault is tested heavily but not yet audited by a paid firm, so the beta is capped at 50,000 USDC in total.
- Spark or Numo could have a bug or a bad price feed. Each strategy has its own limit.
- Once naira carry is live, its part of the vault loses money if the naira falls further than the market priced.
- Dollar lending pays what borrowers pay, which changes every day.
Questions
Where does the yield come from?
Dollar lending earns what borrowers pay: people who lock up crypto like ETH and borrow dollars against it, plus income from US Treasury bills held by Sky, the protocol behind Spark. Naira carry earns the gap between naira and dollar interest rates, which the naira futures market prices in.
Why is it so low right now?
Few people are borrowing dollars on-chain at the moment, so lenders everywhere earn under 1%. When borrowing demand rises, the rate rises with it. Naira carry is the part designed to pay more, for taking naira risk.
What is naira carry, in one line?
The market sells naira for next month a little cheaper than naira today, because it expects the naira to weaken. If the naira holds up better than that, the difference is profit. If it weakens more, it is a loss.
Can LandedFX take my money?
No. The vault is a public contract on Base. It can only send money back to depositors or into strategies approved in advance, and any new strategy waits two days so you can see it coming and leave first.
How do I get my money out?
Switch to Withdraw, pick an amount or Everything, and confirm. It arrives as USDC in your wallet within seconds. There is no withdrawal fee.