Overview
OneKey is partnering with decentralized exchange Momentum to launch a limited-time fixed yield campaign on the Sui network.
By depositing USDC or WBTC into Momentum’s smart contract vault, users can earn fixed yields — 20% APY on USDC and 10% APY on WBTC.
If the actual yield falls short of the guaranteed rate, the difference will be covered through an airdrop of Momentum’s native token, MMT, distributed one month after TGE.
Yield Structure
Start Date: August 1, 2024
Subsidy Period: One month after MMT TGE
Reward Tokens: USDC & WBTC (any shortfall will be compensated via MMT airdrop)
Deposit Caps:
USDC: 5,000,000
WBTC: 10 BTC
Referral Option:
If the cap is reached, users can continue participating via the official Momentum website using a OneKey referral link to enjoy 1.2× bonus points.
How to Participate
Open the OneKey App, go to the Earn section
Choose USDC or WBTC vault, review the program details, and acknowledge the risks
Enter the deposit amount and confirm the transaction to complete the stake
Yield will update in real time during the campaign
If actual APY is below the fixed rate, MMT will be airdropped one month after TGE
You can view your holdings and rewards under the Portfolio section
FAQs
How does Momentum USDC work on OneKey?
Momentum USDC is managed by OneKey’s third-party partner, Momentum. The yield process is executed through Momentum’s smart contract system, and investments can be accessed and managed directly within the OneKey App.
What is Momentum?
Momentum is a decentralized exchange (DEX) built on Sui, utilizing a Concentrated Liquidity Market Maker (CLMM) model to enable users to trade and provide liquidity with higher capital efficiency.
Backed by OKX Ventures, Jump, and Coinbase Ventures, Momentum has $136 million in TVL and over $5.75 billion in total trading volume, making it a core liquidity platform in the Sui ecosystem.
How can I bridge my assets to Sui?
USDC
We recommend purchasing USDC on a centralized exchange like Binance, and then withdrawing it directly to your Sui wallet address.WBTC
First, convert your assets into WBTC on the Ethereum network using a centralized exchange.
Then, visit Sui Bridge and bridge your WBTC from Ethereum to Sui.
On the Sui Bridge page, select WBTC as the target asset and connect your Sui wallet address in the “To” field.Important
To complete the on-chain interactions smoothly, make sure you have a small amount of SUI tokens on the Sui network to cover gas fees.
How is the yield calculated?
Your deposited assets serve as liquidity in trading pair pools, earning a proportional share of trading fees and SUI rewards. All rewards are automatically reinvested into the pool, compounding over time to enhance overall returns.
If the base yield is lower than the fixed yield benchmark, the difference will be compensated in MMT tokens one month after TGE, using the average token price from the first 5 days after TGE.
Why is the deposited amount different from what I expected?
There are two possible reasons for this discrepancy:
Asset not fully matched into a liquidity pair:
After you make a deposit, the system will automatically perform a swap to pair your assets with the target token and add them to a liquidity pool. If the assets cannot form a complete pair, some tokens (such as USDC, USDT, WBTC, or xBTC) may not be deposited into the vault and will remain in your wallet.
Minor display variance:
Due to underlying price conversions, the displayed token amount may show slight differences, but your actual deposited amount remains unaffected.
What are the potential risks of using Earn?
While both the protocols and vault managers have implemented various security measures, interacting with third-party smart contracts inherently carries certain risks. These may include, but are not limited to, smart contract vulnerabilities, hacking incidents, insufficient liquidity, and extreme token price volatility.
Please make sure to fully understand and evaluate these risks before participating. OneKey shall not be held liable for any asset losses resulting from the aforementioned risks.