We're unflat, two founders in Milan building a stablecoin savings app for European savers on Morpho. AMA
Hi r/defi. We're unflat, a two person team out of Milan. We're building a savings app for European users on top of Morpho.
What it is: you deposit USDC, funds go into overcollateralized lending vaults on Morpho, interest accrues every second, non custodial, no lockup, withdraw anytime. Net APY has been in the 5 to 7% range depending on the market.
The uncomfortable part: our users think in euro, but EURC vault liquidity is still too thin to route real deposit flow into. So today deposits are USDC and a European saver is carrying EUR/USD exposure whether they think about it or not. We'd rather say that out loud than bury it in a FAQ. EURC goes in when the vaults can take real size.
Why we're posting here: we'd rather get taken apart by people who actually read vault parameters. Ask us anything: vault selection and collateral concentration, why Morpho and not Aave, the fee, custody.
We'll be around today answering everything, including the unflattering ones.