VVS Finance Rolls Out Auto Harvest To Deliver DeFi Yield Directly To Crypto.com Prepaid Cardholders
In Brief
VVS Finance’s new Auto Harvest feature allows Crypto.com Prepaid Card users to automatically convert and spend their DeFi yield farming rewards as fiat currency for everyday purchases.
Decentralized exchange (DEX) and yield farming platform VVS Finance has introduced a new feature called Auto Harvest, specifically available to Crypto.com Prepaid Card users. This functionality allows yields generated from decentralized finance farms to be automatically collected and allocated toward funding the user’s prepaid card for routine expenditures.
The Auto Harvest feature is now active across all VVS Finance farms that distribute VVS tokens and are marked accordingly on the platform. When users opt to direct harvested rewards to a Crypto.com Prepaid Card, the earnings—after applicable fees—are converted into fiat currency via USDC or a local equivalent and deposited onto the associated card, depending on regional support.
“The Crypto.com Prepaid Card is a vital bridge between the fiat and crypto worlds and a stepping stone to participating in decentralized finance,” said Esther Wong, Senior Vice President of Cards at Crypto.com, in a written statement. “The launch of Auto Harvest reinforces this by allowing VVS Finance users to automatically claim their yield farming rewards and seamlessly use them to enable spending on everyday goods and services,” she added.
“VVS Finance’s Auto Harvest feature shows that what happens on Cronos chain doesn’t have to stay on Cronos chain,” said Mirko Zhao, Cronos Labs Lead, in a written statement. “Its native integration with Crypto.com Prepaid Card gives Cronos users the freedom to claim their yield farming rewards and decide where to utilize them—for other DeFi purposes onchain, or to cash them out to their prepaid card,” he added.
“The launch of Auto Harvest seamlessly connects DeFi and CeFi, making it easy for VVS users to claim rewards and immediately allocate them for everyday spending,” said Yotei, Product Lead at VVS Finance, in a written statement. “It’s a breakthrough in making decentralized finance accessible to mainstream users, who can seamlessly claim their rewards and convert tokens with zero friction,” he added.
Auto Harvest Integration With Crypto.com Prepaid Card Simplifies Yield Farming And Crypto Spending
Auto Harvest rewards are collected automatically on a daily basis once they meet a minimum threshold of $6. Users also have the option to manually claim rewards from an Auto Harvest farm at any time without incurring a processing fee. The feature’s integration with the Crypto.com Prepaid Card streamlines the process of converting cryptocurrency into spendable funds, eliminating the need for multiple steps typically involved in off-ramping.
The addition of Auto Harvest to the Crypto.com Prepaid Card serves to enhance the practical utility of decentralized finance by enabling more direct real-world use. It also simplifies the yield farming experience, potentially making decentralised finance (DeFi) tools more approachable for individuals less familiar with blockchain-based processes.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
