Hodlnaut Crypto Lending Platform – Turns 3, Adds UST, and New Promo

12/16/2022 Update: Hodlnaut Interim Judicial Managers Propose Restructuring Plan.

5/4/2022 Update: Hodlnaut turns 3 and has added LUNA (6.7% APY), UST (13.9% APY). There is a new ongoing UST promo ($30 – $240 UST) but it requires 6,000 – 26,000 UST in deposit. Read more on their blog.

3/7/2022 Update: Standard referral bonus is now $30 (previously $20). Previous “affected parent referrers” have been given 20 USDC in compensation. See this reddit post for details.

2/9/2022 Update: Beginning 2/8/2022 the APY on BTC and WBTC decreases to up to 6.71% while ETH decreases to up to 5.65% APY.

11/28/2021 Update: As a part of their Holiday Campaign, signup bonus is as high as $40. $20 for $500 deposit and additional $20 for additional $1000 deposit or $40 for a single $1500 deposit. Read details of this limited time offer here. This is the best offer they have had. You can still use the referral link shared below to get started. Offer ends January 2, 2022.

Holdnaut is a Singapore-based crypto lender where you can deposit your crypto and get interest. They have been in the game since 2019 but only today did they launch an Android App. Recently they also partnered with a crypto exchange OkCoin which has a $50 signup bonus of their own.

Holdnaut only supports a very limited number of coins, namely BTC, WBTC, ETH, USDC, USDT, and DAI however their APY is one of the best in the CeFi market. As of today their website claims to have 10k+ users and $500m in asset.

Hodlnaut currently offers 7.46% APY on BTC while the best rate from its competitor is 6.20% APY of Celsius. It is worth pointing out that Celsius has practially the best signup and transfer bonuses.

Among all the existing CeFi platforms, Hodlnaut also has the best APY for USDC and USDT. Recently BlockFi bumped their stable coin APY from 8.5 to 9 but that is still few points below 12% offered by Hodlnaut. Crypto.com gives 14% APY but that requires (a) buying $4k of their coin (b) locking on said coin for 6 months and (c) locking out stable coin for 3 months. Similarly you can also get 10% APY from CoinZoom but that also requires buying their native token. A few other platform (Celsius, Voyager, etc) and their rates have been mentioned in this post but they are still inferior to 12%

The big catch is that 12% is only attained on the first 25k USDC.

Another big catch is the fact that there is a withdrawal fee and you can’t deposit USD into the platform. You can work around this buy buying coin on a platform that allows depositing USD and free withdrawal, for example BlockFi.

Anyway, here is what the android app looks like.

Closing Thoughts

Currently they have 1 free withdrawal promotion (until Nov 7th) but based on what was said by this Hodlnaut representative on reddit it like they might consider offering some form of free withdrawal on an ongoing basis. Update: Hodlnaut now has 1 free withdrawal per month.

Beside the plus point of high APY, they also offer swaps. This reddit post claims that there is only 0.1-0.15% swap fee which is a rather good rate among platforms that offering high APY.

If you are interested in signing up, I suggest doing so sooner than later. Their verification process is a bit more involved and lengthy. I suspect related regulation in Singapore require more details than that in US.

P.S. Hodlnaut = HODL + Astronaut. LOL.