# unflat

> unflat is a European savings app offering smart access to DeFi. Its entry product is a deposit account protected on-chain: deposits earn yield in Morpho Protocol lending markets while covered by Nexus Mutual against smart contract exploits, oracle failures and stablecoin depegs. unflat is the first European app to offer an on-chain protected deposit account. No crypto knowledge is required. Based in Milano, Italy.

## Mission

Democratize access to DeFi: bring the yields, the transparency and the control of decentralized finance to everyone, without requiring technical or financial expertise.

## What unflat offers

- **Protected deposit account**: yield from Morpho lending markets with on-chain cover by Nexus Mutual. The cover premium (around 1.15% per year, set by Nexus Mutual) is built into the displayed rate.
- **Standard deposit**: maximum yield (up to 7% APY, historical range), no cover. A 15% performance fee applies on the yield generated, never on principal.
- Deposits are in USDC, via Coinbase or direct blockchain transfer. EURC support is planned as euro stablecoin liquidity grows.
- Withdraw anytime: no lockups, no deposit fees, no withdrawal fees.
- Non-custodial: funds stay in the user's own wallet. Every transaction is verifiable on-chain.

## Key Facts

- Built on Morpho Protocol: $10B+ in deposits, 25+ independent audits (Trail of Bits, OpenZeppelin, Spearbit), zero exploits since launch.
- All Morpho loans are overcollateralized (borrowers pledge 120-150%+ of what they borrow).
- On-chain cover provided by Nexus Mutual, underwriting on-chain risk since 2019. The protection is discretionary cover, not regulated insurance.
- Cover scope: smart contract exploits, oracle failures, severe stablecoin depegs and similar protocol failures listed in the cover wording. It does not cover yield variability or EUR/USD exchange rate moves.
- USDC is a fully reserved dollar stablecoin issued by Circle, attested monthly.
- Born from B4i (Bocconi for Innovation), building with TEF (Tech Europe Foundation).

## Risk & Disclaimers

- unflat is not a bank and deposits are not covered by FITD or EU deposit guarantee schemes
- On-chain protection is discretionary cover via Nexus Mutual, not regulated insurance and not a guarantee
- Past yields do not guarantee future returns; APY fluctuates based on market conditions
- Users are exposed to smart contract risk, stablecoin risk, market risk and EUR/USD currency risk
- This is not financial advice. Users should only deposit what they can afford to lose
- Full risk disclosure available at the link below

## Links

- [Homepage](https://unflat.finance): Main landing page with product overview and waitlist signup
- [Docs](https://unflat.gitbook.io/unflat-docs): Official documentation for mechanics, risk disclosure, protocols, security, and technical details
- [Blog](https://unflat.finance/blog/): Articles about the product, DeFi, and savings
- [Cover wording](https://app.nexusmutual.io/cover/product/412/cover-wording): Full Nexus Mutual cover terms for protected deposits
- [Terms of Service](https://unflat.finance/terms.html): Legal terms and conditions
- [Privacy Policy](https://unflat.finance/privacy.html): Data handling and privacy practices

## Contact

- Email: info@unflat.eu
- Website: https://unflat.finance