Donut: Earn 6% APY with DeFi

The Donut Team has been fantastic and I absolutely love this company and its app. Where else can we earn a 6% steady return on our idle cash with minimal risks? Bear in mind though, unless it is government-guaranteed or FDIC-insured, no investment is entirely risk-free. In that respect, like any other investment, our money placed in Donut is no exception. But what makes this company stands out is that its team has been diligently looking after our money in both good and bad times. When UST depegged from the "Dollar", Donut was able to save us from incurring severe losses while other companies in the same industry are reeling in such an unprecedented situation. Donut also made an effort to compensate those who have incurred minor losses by boosting their APY by an additional 15% for 60 days in order to soften the blow. And now, Donut uses USDC (one of the safest stablecoins backed by a ratio of 1-to-1 U.S. Fiat Currency) to ensure our money is safer than ever before. Transferring money in and out of Donut is a breeze. My deposits with Donut earn interest immediately after I hit the transfer button, while withdrawals, from my own experience, have never taken more than 2 business days to arrive back in my bank account. And whenever I have a question, I sent them an in-app message and always get a response back within one day. Keep up the good work, Donut!

I’m one of those that also lost 13% in the UST crash (almost $1000), but despite the loss I’m quite happy with the way Donut has handled the situation this far. Due to the simple interface, users probably fooled themselves into thinking Donut is a savings plan. Donut themselves provide several materials on their site explaining how this is DeFi INVESTING and there is inherent risk as such. That’s why there were different levels of plans for different levels of risk. Only the people invested in the growth plan lost money from the UST crash. Those complaining how they lost money and that this isn’t a savings account obviously didn’t do their own research to do their own cost benefit analysis. I understood from the get go that I was taking a risk by putting my funds into the growth plan, the biggest risk I saw being Donut being a start up. I wasn’t sure how they would fare when things got rough, which they certainly did during the UST crash, but instead of floundering and just running away with all our cash, they went back to the drawing board, restructured their plans, and provided a recovery boost to those affected. I have more faith in Donut now than I did before the crash and still continue to use it.

Super pleased with Donut. Deposited a few hundred with the idea that I’d see how it earned, how the app functioned and then in a weeks time, withdraw to see if the action was seamless. In one week, my few hundred earned what my big bank gives in six months time! Incredible. The app is beyond simple to use. It isn’t crowded and I never felt like I needed to scroll or tap every which way to find what I needed. Lastly and the only thing that made me nervous, I withdrew at exactly one week. It was as easy as hitting the withdraw button, a quick review of bank account info and then confirmation that it would take 1-5 business days to hit my account. That was a Friday. The following Thursday, the full amount was deposited into my bank account. If you’re like me, you’ve read 2 million reviews for different platforms where people can’t get their money, their account froze/locked out or they can’t find anyone to speak to and it really holds you back. Anyhow, thanks to this going so well and putting me at ease, I’ve redeposited my funds and elected to go with the Build plan. This is an incredible app for savings. My eventual goal is to completely ditch my useless bank savings. Great app, Donut. I look forward to working with you all for some time. Regards.