What is Elios Earn?
Earn is your access point to on-chain yield opportunities from the Elios app. It connects your wallet to decentralized finance ("DeFi") vaults: lending markets and yield strategies that run as smart contracts on public blockchain networks. These vaults are operated by third-party protocols, not by Elios. All DeFi transactions are initiated by you and occur directly on the applicable blockchain network, from your own wallet: Elios provides the interface, while your funds move under a permission you approved, scoped on chain, and only you can initiate deposits and withdrawals.
During beta, one protocol is accessible: the HyperLend USDC vault. HyperLend is an over-collateralized lending market on Hyperliquid, where your USDC is lent to borrowers who post more collateral than they borrow. The yield is variable and set by market supply and demand, recently around 6% APY on average over the last 30 days. Interest accrues in real time, and there is no lock-up and no notice period: funds can be moved back to your main balance at any moment, in seconds, subject to the vault having sufficient available liquidity. In a lending market, deposited funds are lent out to borrowers, so in rare moments of very high utilization, withdrawals may take longer until liquidity replenishes. This is a structural property of all lending protocols, not an Elios restriction.
One thing to know: funds in Earn are not directly spendable with your card. Move them back to your main balance first, then spend.
Additional vaults, including other DeFi and RWA strategies, will be added in the upcoming weeks.
Is Earn a savings account?
No. Earn is not a bank account, deposit, or savings product. Funds used in Earn are not protected by deposit insurance and returns are not guaranteed.
Is the APY fixed?
No. The yield in Earn is variable and changes continuously. It is set by supply and demand in the underlying lending market: when demand to borrow USDC rises, the rate goes up; when it falls, the rate goes down. No one sets or guarantees the rate, not Elios, and not HyperLend.
The figure you see in the app is a recent average, shown to give you a realistic picture rather than a moment-in-time spike. Your actual yield accrues at the live market rate, in real time, so it will drift above and below the displayed average as conditions change.
Past rates are no guarantee of future rates. If the market shifts, your APY shifts with it, in either direction.
What does APY mean?
APY stands for Annual Percentage Yield. It expresses what your funds would earn over a full year at the current rate, with compounding included, meaning the interest your interest earns as it accrues.
How is yield generated?
Yield in Earn is generated on chain, by the third-party DeFi protocols your funds are deposited into. Each vault runs a strategy, such as lending, and the returns that strategy produces flow directly to depositors through the protocol's smart contracts. The yield is not created by Elios or paid from Elios's pocket: Elios is the interface, the protocol generates the return, and the mechanics differ from vault to vault. Each vault's strategy is described in the app before you deposit.
During beta, the only vault available is the HyperLend USDC vault, where the yield comes from lending. Your USDC joins a shared lending pool that borrowers draw from. Borrowers pay interest on what they borrow, and that interest flows back to the pool's depositors, including you, in proportion to your share.
Every loan is over-collateralized: borrowers must post collateral worth more than they borrow, locked in the protocol's smart contracts. If a borrower's collateral falls too close to the value of their loan, it is automatically liquidated to repay the pool. This protection is enforced by code, not by a promise.
Does Elios guarantee yield?
No. Neither Elios nor anyone else guarantees the yield in Earn.
Yield is generated by third-party DeFi protocols, and the rate is set by market supply and demand, moving continuously in both directions. The APY shown in the app reflects recent conditions, not a promise of future returns. Elios does not top up, smooth, or underwrite the rate: what the protocol generates is what you receive.
Can I spend directly from Earn?
Not yet. Funds held in Earn vaults cannot currently be spent directly. To use them, first withdraw the funds to your Elios account. Only your Elios account balance can be used for card payments and transfers.
Direct spending from selected vaults is on our roadmap, with each vault’s spendability clearly indicated in the app.