Most banks take your money, lend it, and keep the return. We lend your money and give you back the return.
We provide a 6% APY treasury through our partnership with Gemini. You can store as much money in your Gemini Earn account as you wish to accrue interest on your deposits. After depositing your fiat currency into your Every account, you can convert your money into stablecoins. Your stablecoins are lent to Genesis through your Gemini Earn account. Genesis lends your stablecoins in the crypto capital markets to generate yield.
Your loan is secured by collateral provided to Genesis from its borrowers. Genesis loans are overcollateralized by 120% of their value.
If the value of the loaned assets increases, or the value of the collateral decreases, so the value of the loaned assets becomes equal to or greater than the value of the collateral, Genesis can require their borrower to contribute additional collateral so the collateral is at least the same percentage indicated in the loan term sheet.
We chose to use GUSD as the stablecoin because of its security and stability guarantees. The gemini dollar is strictly pegged 1:1 with the U.S. dollar. It has regulatory oversight and supervision by the New York State Department of Financial Services (NYDFS). GUSD is audited on a monthly basis by BPM, a private and independent accounting firm that ensures there is parity between the amount of USD in reserve and the amount of GUSD in circulation.
We chose to work with Gemini because it is one of the safest crypto exchanges. Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). They are subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law—on par with traditional financial institutions.
We chose to work with Genesis because it is one of the world’s leading digital asset trading and lending businesses serving institutional clients. It is a centralized institution behind a walled garden with no hack risks. Genesis is regulated by the SEC, FINRA, the New York Department of Financial Services, and has both a Bitlicense and Federal MSB license.