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💡 Why Pyra?

With Pyra, you get:​

  • A self-custody DeFi credit card, without selling your assets

  • Yield generated on all funds

  • No liquidation fees

  • Notifications to keep on top of spending, account balance, and when your collateral is sold

Main Features​

Spend without selling​

With traditional crypto cards, you need to sell your investments (like SOL, BTC) for fiat or stablecoins (like USDC, USDT) in order to spend. This means that if prices go up, you miss out on all the gains. With Pyra, you can stay holding your investments while spending their value through a secured line of credit. Since you don't sell any assets, you keep all the gains if your assets go up in price. And if prices fall, your collateral is automatically sold at market rate to avoid any liquidation fees.

Self-Custody Credit Card​

The Pyra card supports Apple/Google Pay, can be managed through the Pyra mobile app and website, and can be used anywhere Visa is accepted. The balance for this card is kept in crypto and stored in the Pyra protocol. Only the wallet that originally added the funds can withdraw or spend them, so no one else has access to your funds (not even Pyra).

You can set daily, weekly, monthly, or yearly spending limits, which gives Pyra access to the specific amount of funds required to cover your transactions. Pyra then takes out a DeFi loan against those assets, so you can spend their value without selling them. You can learn more about how Pyra's DeFi loans work here.

Yield​

Through our Lulo integration, all funds are automatically routed to whichever DeFi protocol has the highest available yield. Any yield left over after paying the interest on outstanding loans is paid directly into your Pyra account. Pyra and Lulo are only able to move your funds between protocols, and can never withdraw them out of the platform without your authorization.

Liquidation Protection​

Other DeFi lending protocols require you to actively manage your loans and account health to avoid liquidation, but Pyra does things differently. The Pyra protocol automatically manages your account health for you and automatically sells your collateral at market rate if you approach the liquidation threshold to avoid any fees. You can learn more about liquidation protection and Pyra's DeFi loans here.