Founded in 2018, Donut aimed to simplify access to the high-yield opportunities within DeFi for everyday savers and investors. The application allowed users to deposit US dollars, which were automatically converted to digital dollars (stablecoins like USDC) and then put to work in lending markets to generate returns. However, in late 2022, the company was severely impacted by the collapse of its primary lending partner, Genesis Global Capital. This forced Donut to pause all withdrawals and re-evaluate its business model. The company is currently focused on a recovery plan to return user assets and is not offering its yield-generating products to new users.

Founded in

United States