What is EUR Vault?
EUR Vault lets you earn yield on your euros, directly in Bleap. Your Euros (EURE) stay in Euros, with no need to convert them to dollars.
Who are the partners?
KPK curates and manages the vault. KPK is a non-custodial onchain asset manager that has been managing capital across DeFi since 2020.
Monerium issues EURe, the regulated euro token behind every euro balance in Bleap. EURe is MiCA-compliant, backed 1:1 by euros and redeemable at par.
Morpho is the lending protocol the vault is built on.
How does it work?
The vault matches the euros deposited with people who want to borrow euros. Borrowers must put up more collateral than they borrow.
KPK decides which collateral is accepted, sets the rules for each market and monitors the vault to manage risk.
What rate will I earn?
You can see the current rate in the app. The rate is variable and can change over time.
How do I deposit?
Go to Savings, choose EUR Vault and enter the amount you want to deposit.
Do I need to convert my money?
No. Your euros in Bleap are already held as EURe, so they go straight into the vault.
Can I withdraw?
Yes. You can move your euros from EUR Vault back to your balance, subject to available liquidity in the vault.
Am I still in control of my money?
Yes. Bleap is self-custodial and the vault is non-custodial, so your funds are never held by Bleap or KPK.
Are there any risks?
Yes. EUR Vault is a DeFi product built on smart contracts, and you could lose some or all of your funds. Rates are variable and not guaranteed.
Is EUR Vault regulated?
The Savings feature, including EUR Vault, is made available by Bleap SIA but is not part of its MiCA-regulated services, and MiCA investor protection safeguards do not apply. EURe is a MiCA-compliant e-money token.