Main Takeaway: ELLIPAL Earn lets you supply USDT or USDC on Ethereum to a DeFi lending protocol from the ELLIPAL App, and you sign every step on your ELLIPAL Titan 2.0 or ELLIPAL X Card. Interest compounds into your balance, there is no fixed lock-up period, and withdrawals depend on the protocol's available liquidity.
Quick reference
| Term | What it means |
|---|---|
| Lending protocol | An on-chain market where lenders supply tokens and borrowers pay interest. ELLIPAL Earn uses Compound V3 for USDT and Aave V3 for USDC. |
| On-chain vault | The smart contract that receives your deposit and supplies it to the lending protocol |
| Token approval | An on-chain permission that lets a contract use a set amount of one token from your address. It does not move funds by itself. |
| Network fee | The ETH you pay Ethereum for each approval, deposit and withdrawal |
How do you start earning on USDT or USDC with ELLIPAL Earn?
ELLIPAL Earn sits under Discover in the ELLIPAL App. The minimum deposit is 1 USDT or 1 USDC, and interest accrues by the second from the moment your deposit is confirmed on-chain. Keep a small ETH balance in the same wallet to cover network fees. You can also start from Wallet: open Ethereum and tap the Earn row under USDT or USDC.
- Open the ELLIPAL App and go to Discover, then Earn.
- Under Stablecoin Earn, select USDT or USDC on Ethereum.
- Tap Deposit and enter the amount.
- If the App asks for an approval, review it and sign with your ELLIPAL wallet.
- Confirm the deposit and sign it.
- Open the token's Earn page to see your deposited balance.
Approvals, signing screens and withdrawals
Why the first deposit can take two signatures
The first ELLIPAL Earn deposit of a token usually needs two transactions: an on-chain token approval that lets the vault use up to the amount you set, then the deposit that moves the tokens. If your existing allowance already covers the amount, the App skips the approval and you sign once. On the ELLIPAL Titan 2.0, each transaction takes two QR scans. On the ELLIPAL X Card, each one is a PIN entry and a tap.
"Function: unknown" on the Titan signing screen
On Titan firmware below 4.15, the signing screen can show "Function: unknown" for an ELLIPAL Earn transaction. Updating the ELLIPAL Titan 2.0 to firmware 4.15 or later shows the full transaction details, in line with how Clear Signing works. Check the contract address before you sign, and cancel if it does not match.
Withdrawals depend on liquidity
To withdraw from ELLIPAL Earn, open the token's Earn page, tap Withdraw, enter an amount and sign. Compound and Aave lend out supplied tokens, so a withdrawal needs enough unborrowed liquidity in that market. When a market is heavily borrowed, withdraw a smaller amount or try again later.
Rates, fees and risks
ELLIPAL Earn rates move with borrowing demand on Compound V3 and Aave V3, so the rate shown in the App can change after you deposit. Smart contracts and lending protocols carry their own risks. Compound and Aave are independent protocols. ELLIPAL is a self-custody hardware wallet company and does not hold your funds, give investment advice or guarantee returns. Availability varies by region and asset. For a wider view, read what a cold wallet does and does not cover in DeFi.
Which situation matches yours?
- You keep USDT or USDC on Ethereum between trades: ELLIPAL Earn lets that balance accrue interest with no fixed lock-up period.
- Your stablecoins are on another chain: ELLIPAL Earn covers USDT and USDC on Ethereum, so check what moving them would cost first.
- You are depositing a small amount: compare the ETH fees for approval, deposit and withdrawal with the interest you expect.
- You may need the funds at short notice: keep part of them outside ELLIPAL Earn, since withdrawals depend on protocol liquidity.
Where ELLIPAL fits
The ELLIPAL Titan 2.0 signs ELLIPAL Earn transactions by QR code and shows the details on its own screen. The ELLIPAL X Card signs them with a PIN and a tap. Both keep private keys offline and use the same ELLIPAL App. Different tools. Same mission.
Frequently asked questions
Does ELLIPAL hold my stablecoins in ELLIPAL Earn?
No. Your deposit goes from your own address into an on-chain vault that supplies Compound V3 or Aave V3. ELLIPAL does not hold customer funds, and each withdrawal is a transaction you sign with your own ELLIPAL wallet.
What happens to my deposit if I lose my ELLIPAL wallet?
Your ELLIPAL Earn position is recorded on-chain against your wallet address, not on the device. Restore your recovery phrase on a new ELLIPAL wallet, and the same address can withdraw from the Earn page.
How much does ELLIPAL Earn cost to use?
Each approval, deposit and withdrawal pays an Ethereum network fee in ETH. The App shows the estimated fee before you sign. Fees rise when Ethereum is busy.
Is the ELLIPAL Earn rate fixed?
No. The rate follows borrowing demand on Compound V3 for USDT and Aave V3 for USDC. The App shows the current rate and an estimated monthly reward before you deposit, and neither is a promise of future returns.
For more on using DeFi from a hardware wallet, see our guide to DeFi yield with a hardware wallet.
About ELLIPAL
ELLIPAL has made self-custody hardware wallets since 2018, with more than 1 million users in 140+ countries. ELLIPAL wallets support 10,000+ tokens across 45+ chains and follow the BIP39 and BIP44 standards.
Open the ELLIPAL App, go to Discover and then Earn, pick USDT or USDC, and you're ready to go.