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Flynt Finance Review
In recent years, the world has seen a massive shift towards decentralization, with blockchain technology leading the way. This shift has been particularly evident in the financial sector, where the traditional centralized banking system is slowly being disrupted by decentralized finance (DeFi) platforms.
One of the key advantages of DeFi is that it eliminates the need for trust in one centralized entity as the transactions are processed on a decentralized network of computers, which is much faster and more efficient than traditional banking systems.
However, despite the numerous advantages of DeFi, the sector is still in its early stages, and many investors are hesitant to invest in it due to the lack of regulation, security concerns and difficulty levels. This is where centralized yield providers like Flynt Finance come in.
Flynt Finance is a centralized yield provider that generates returns through transparent strategies. It offers investors a secure and reliable way to invest in the DeFi space without having to go through all the tedious processes. The investments are also enhanced through combining multiple strategies into one.
Flynt Finance is designed to bridge the gap between the traditional banking system and the DeFi space. It offers investors the best of both worlds by providing a secure and reliable investment option that is backed by on-chain level transparency.
Here is everything you need to know about this lending and yield generation platform called Flynt.
Flynt Finance Quick Overview
- Transformative yield-generating platform
- Offers strategies for a wide range of crypto users
- Streamlined UI makes it easy for new users
Flynt Finance Pros & Cons
Pros
Market leading yield in crypto
Automates the yield-farming process
Offers good strategies for yield generation
Provides detailed analytics and reporting tools
Cons
A 20% performance fee is applied.
Relatively new platform
Flynt Finance Overview
For most yield farmers in the crypto space, one of the toughest problems they have to face is the complexity of finding the right strategies and managing multiple investments across different platforms.
Flynt Finance is an investment platform that offers an easy and transparent way to compound cryptocurrency holdings. It eliminates the need for stressful trading and finding the best yield products in DeFi. Instead, the platform offers proven back-tested strategies to grow assets and generate a source of income catered for various risk appetites.
Flynt generates income through options trading and DeFi platforms, including leveraged covered call strategies and a delta-neutral GLP. All the strategies are documented, ensuring users are well-informed of the risks involved.
Flynt Finance is an excellent choice for investors who want to put their crypto to work but are short on time for trading and want to put their crypto to work. With a team that has been involved in the blockchain space since 2015, the platform is committed to maintaining the integrity, responsibility, and transparency that users expect when investing their assets.
Flynt Finance Yields and Setup
At the moment, Flynt Finance offers yield farming opportunities with BTC, ETH, USDC and VEGA. All you need to do is deposit and subscribe to earn market leading weekly returns. At the time of writing, all strategies have been profitable throughout the lifetime of Flynt’s operations.
Bitcoin Covered Calls x5 (Peak APY 103%)
Flynt Finance claims that you can earn up to 80% per year on your BTC investments. It sells weekly call options (right to buy Bitcoin) and earns a premium which becomes the source of yield. Returns are paid out in BTC each Friday if the price of Bitcoin does not exceed the weekly strike price. This strategy uses 5x leverage to maximize returns and adjusts risk through setting strike prices far away from the current price.
Ethereum Covered Calls x3 (Peak APY 25%)
Similar to the Bitcoin strategy systematically selling weekly call options to earn premium as yield. Considering the higher volatility of Ethereum, the strategy is capped at 3x leverage with returns paid out in ETH each Friday if the price of Ethereum does not exceed the weekly strike price.
USDC Delta-Neutral Strategy (Peak APY 24%)
This strategy is a low-risk strategy that earns yield through GMX’s GLP. GMX is the largest decentralized derivatives exchange which rewards 70% of the fees generated on the platform to GLP holders. GLP is GMX’s liquidity pool which is composed of stable and non-stable assets. Flynt Finance hedges the price exposure of the non-stable assets to earn fee rewards without the exposure to changing asset prices.
VEGA Protocol Staking (Peak APY 5%)
This strategy is to help VEGA holders stake their assets with ease without having to create a wallet on the VEGA protocol. VEGA is an emerging decentralized derivatives exchange using its own chain which increases difficulty for holders in getting engaged with the protocol. Being simply a staking strategy, the only risk involved is the downfall of the Vega Protocol itself.
How To Get Started
Flynt Finance claims that you can earn 20-60% per year on your investments. According to their whitepaper, you can easily get started by making a deposit. You will then choose your strategy and the corresponding asset you would like to gain interest in.
For instance, you can make BTC Covered Calls at a 5X leverage limit, not to mention a peak APY of 103%. The minimum subscription amount for this is set at 0.001 BTC. This means that the yields generated to the amount you have subscribed to will be added to your account on the next cycle.
How to Deposit on Flynt
Making a deposit with Flynt is easy. Here are a few simple steps you should consider.
- First, create a wallet address for the asset you wish to deposit. At the moment, Flynt supports deposits for BTC, ETH, and USDC.
- Next, click the deposit button on your Flynt dashboard and use the QR code or wallet address to send the corresponding asset to your account.
Once you have made your deposits, your funds will go direct to Fireblocks custody wallet, which is Flynt’s cold storage service provider.
Every weekly subscription prompts a transfer of funds to corresponding counterparties based on your subscription. When you decide to unsubscribe, the funds are transferred back to Fireblocks, and you can withdraw at will.
Is Flynt Finance Secure?
As mentioned, Flynt uses top-notch multi-signature cold wallets to store assets on its platform. Thanks to its partnership with reputable cold storage service providers, Flynt is able to offer secure storage of users’ private keys. There is also an option to set up 2FA (two-factor authentication), which is a standard form of authentication that further secures your account.
Setting up your 2FA on Flynt is easy. Just follow these steps.
- Once you log in, click the KYC verification button
- Then turn to the OTP setting and follow the instructions on the pop-up window
- Next, download the Google Authenticator or any other 2FA application and add Flynt OTP to the app.
- Confirm your settings by entering the six-digit code shown on the OTP application, and you are good to go.
Ease of Use
Flynt Finance is designed to be an intuitive and user-friendly platform. It also caters to yield farmers of all experience levels.
Simply put, if you are looking for a platform that offers a streamlined and intuitive user interface that allows you to easily navigate and manage your crypto investments, Flynt is your best choice.
The platform automates the difficult and time-consuming aspects of yield farming, making it easier for users to generate yields on their investments without the need for extensive knowledge or experience in trading.
With Flynt, users can easily access and implement proven strategies that help generate yields without necessarily having extensive research or monitoring. In addition, you also get access to tools for detailed analytics and reporting so that you can make informed decisions.
Conclusion
Flynt Finance is a powerful and user-friendly platform, and you can use it to simplify your yield farming. With Flynt, anyone can access and implement proven strategies that help generate yields on their investments without the need for extensive knowledge or experience in trading.
The platform is designed to automate difficult and time-consuming aspects of yield farming and provides users with detailed analytics and reporting tools to help them track their investments and make informed decisions.
It’s worth noting that a 20% performance fee is applied on the weekly returns, but there are no unsubscription fees or general management fees, as is the case with most platforms. Despite the performance fee, Flynt Finance offers an attractive option for investors looking to generate returns on their crypto assets.
Flynt Finance Frequently Asked Questions
Flynt offers various strategies, the main one being the covered call strategy which sells call options on a weekly basis. Flynt is able to generate high yields by using risk management strategies with far out-the-money strike prices. They also offer reasonable leverage across the board.
Interest in your account accrues every Friday at the end of the week. For the USDC strategy, you can expect your yields on Wednesday.
At the time of writing, Flynt only accepts BTC, ETH and USDC.
As mentioned, Flynt has partnered with industry-leading cold storage providers such as Fireblocks and BitGo to offer secure multi-layered cold wallet protection.
