What is DeFi Lending in the Crypto.com Exchange?
The DeFi Lending feature in the Crypto.com Exchange lets eligible users supply their virtual assets to DeFi lending protocols for rewards.
You can supply virtual assets to your preferred DeFi protocol for a flexible period, and receive regular rewards proportional to the amount supplied.
The benefits of DeFi Lending include:
Ease of Participation: Access DeFi protocols via the Crypto.com Exchange without having to connect your non-custodial wallet
Periodic Reward Cycles: Enjoy reward distributions up to three times a week*
*Reward distributions are determined solely by the protocol.
Are my virtual assets at risk when participating in DeFi Lending?
Lending virtual assets comes with inherent risks, including:
Liquidity Risk
You may not be able to supply or redeem your virtual assets during extreme fluctuating market conditions, when the lending pool hits its supply cap or funds from the lending pool are fully loaned out. Your supply or redemption requests may be in pending status until supplying or redeeming are resumed by Aave’s protocol. Carefully consider the liquidity risk before proceeding.
Liquidation Risk
You may risk a partial or complete loss of virtual assets when the market moves significantly in a short period, causing the value of your supplied asset to dip.
Smart Contract and Technical Risks
There are smart contract and technical risks associated with DeFi Lending. These include error or security failures like smart contract failure, bugs in the protocol code, hacks, network critical delays, or exploits. Such technical risks may result in a loss of data or access to your supplied virtual assets.
Pass-Through Risks
Please note that the Exchange only provides a pass-through service for you to participate in DeFi Lending. As a result, you will be subject to the terms, conditions, and risks of the relevant DeFi protocols. Please conduct your own due diligence on each of the DeFi Lending protocols, risks and mechanics, and consult your advisors before making any decision, including whether to participate in DeFi Lending and related transactions.
Crypto.com will only act on your instructions and facilitate your on-chain token transfers to and from DeFi protocols upon your expressed instructions. We do not assume any responsibility or liability for the performance, rewards, failure, reliability, or consequences of any third party services and/or any of the DeFi protocols.
Which protocols do DeFi Lending currently support?
The following DeFi protocols are currently supported:
Lending Protocol | Virtual Asset to Lend | Minimum Amount of Tokens to Supply (Minimum Decimal Precision) | Estimated Activation Period | Estimated Time to Receive First Reward
| Rewards Crediting Destination |
Ethereum (ETH)
ETH will be converted to WETH before being supplied to the lending protocol
| 1.00E-08 | 1 day | 4 days
| Available Balance |
The Estimated Rewards Rate will be shown on the DeFi Lending confirmation page. Estimated Reward Rates are based solely on information provided by the DeFi protocol, excluding service fees charged by Crypto.com, and are not final. Actual rewards rates are not guaranteed, and may change depending on the DeFi protocol. Rewards must exceed 0.00000001 of the token to be credited.
Transaction Statuses
Past Transaction Statuses
The Request History tab provides a record of all your DeFi Lending requests with their timestamps and current statuses.
DeFi Lending Requests and Balances
Pending | After you have confirmed your DeFi Lending request, the status will first be reflected as Pending. |
Rejected | Once we have received your request, we will conduct further checks on your wallet balances and positions.
If you do not have sufficient funds in your Available Balance for DeFi Lending, your transaction status will be changed to Rejected.
You may check your wallet balances and positions, and initiate another request should you wish to do so. |
Activating | Once your supply request has been received by Crypto.com, the status will then be updated to Activating, and will remain as such until the DeFi Lending protocol has confirmed that the virtual assets have been supplied. |
Done | After your virtual assets have been supplied to and accepted by the relevant DeFi protocol, your request will be activated, and its status will be changed to ‘Done’.
Thereafter, you can navigate to the DeFi Lending page > Supplied to check your supplied balance. |
Your virtual assets will also reflect the status under Wallet > Balances. For example:
ETH (Supplied)
If you choose to redeem your supplied virtual assets, it will be credited back to your Available Balance.
DeFi Lending Geo-restrictions
Users from the following jurisdictions are prohibited from participating in DeFi Lending:
Country | Country Code |
American Samoa | AS/ASM |
Australia | AU/AUS |
Canada | CA/CAN |
Guam | GU/GUM |
Hong Kong | HK/HKG |
Kazakhstan | KZ/KAZ |
Ireland | IE/IRL |
Malta | MT/MLT |
Marshall Islands | MH/MHL |
Minor Outlying Islands | UMI |
Northern Mariana Islands | MP/MNP |
Papua New Guinea | PG/PNG |
Puerto Rico | PR/PRI |
Seychelles | SC/SYC |
Singapore | SG/SGP |
South Korea | KR/KOR |
Thailand | TH/THA |
United Kingdom | GB/GBR |
United States | US/USA |
US Virgin Islands | VI/VIR |
Crypto.com reserves the right to revise the list above at any time. In addition, Crypto.com reserves the right to refuse, restrict, or prohibit access to all or any part of DeFi Lending to any user at our sole discretion.
Rewards
Rewards Rates Dependent on DeFi Protocols
The Estimated Reward Rate provided are based on the estimates from DeFi protocols, excluding service fees charged by Crypto.com, and are subject to change.
Crypto.com does not guarantee any returns or any particular reward rate. The rewards are entirely dependent on the respective DeFi protocol. Only virtual assets that are under the Done status are eligible for rewards for the period that rewards are due.
Rewards Posting and History
Under History, navigate to Rewards History for a detailed log of rewards activity. This page shows the exact timestamp of the credited rewards, the quantity credited, and the token rewarded. Only rewards greater than 0.00000001 will be distributed. The Rewarded Token column indicates the token being credited to your Wallet Balance.
Rewards Frequency
Rewards can be distributed up to three times a week, depending on the DeFi protocol. Please refer to the section above, ‘Which virtual assets does Crypto.com DeFi Lending currently support?’ for more information on the DeFi protocols.
Lending More of the Same Virtual Asset
When you lend more of the same virtual asset, your new request will only begin receiving rewards when the transaction status changes to Done after the activation period ends. Your previous request will not be impacted until you redeem, in which case the virtual assets will be returned to your Available Balance.
Do DeFi Lending positions affect my trading and margin balance?
Supplied virtual assets will not be eligible for trading or transfers. In addition, the supplied assets cannot be used to contribute to your margin balance, and will have no collateral weight.
Does DeFi Lending charge any fees?
Service fees charged by Crypto.com are automatically deducted from your lending rewards.
The service fees for providing DeFi Lending are as follows:
Protocol: Aave Lido Market v3
ETH - 20%
Crypto.com reserves the right to charge differentiated fees depending on the user, meaning that some eligible users may have access to higher rewards rates compared to other eligible users. The fees may be updated from time to time at our sole discretion.