A transparent look at the technology, security, and protocols that power your savings. No jargon, just facts.
Your money follows a clear, auditable path from deposit to earning interest.
Every investment carries risk. Here's an honest assessment of what protects your funds and what could go wrong.
| Risk | What it means | Mitigation |
|---|---|---|
| Smart contract risk | A bug in the code could potentially be exploited | 25+ audits, formal verification, bug bounty program, $5B+ TVL battle-tested |
| USDC depegging | USDC could temporarily trade below $1 | Circle holds reserves in US Treasuries and cash; regulated by US state authorities |
| Liquidation cascade | Rapid market crashes could strain liquidation mechanisms | Conservative collateral ratios (150%+), isolated markets prevent contagion |
| Regulatory changes | New regulations could affect service availability | We monitor regulatory developments and maintain compliance flexibility |
Important: unflat is not a bank account. Your deposits are not protected by government deposit insurance (like FDIC or the Italian FITD). Only deposit what you can afford to have at risk.
Morpho is a decentralized lending protocol built on Ethereum. It's where your deposits actually earn interest.
Peer-to-peer matching: Morpho optimizes interest rates by directly matching lenders with borrowers when possible, rather than using pooled liquidity. This typically results in better rates for both parties.
Isolated markets: Each lending market operates independently. A problem in one market cannot spread to others, limiting systemic risk.
Immutable core: Morpho's core smart contracts cannot be upgraded or changed. This eliminates the risk of malicious upgrades but means any bugs would be permanent (hence the extensive auditing).
Morpho has been audited by:
We use regulated payment partners to convert your local currency to USDC and back. It's the bridge between traditional banking and crypto.
USDC (USD Coin) is a stablecoin issued by Circle, a regulated financial services company. Each USDC is backed 1:1 by:
Circle publishes monthly attestation reports from Grant Thornton LLP verifying these reserves. USDC has maintained its $1 peg through multiple market crises and currently has over $40 billion in circulation.
Key terms explained in plain language.
Verify everything yourself. Here are the tools and resources to do your own research.
One of the core benefits of blockchain technology is transparency. Every transaction, every loan, every deposit is recorded on a public ledger that anyone can inspect. Here's how you can verify what we're telling you: