Frequently Asked Questions

What is Petra Earn?

Petra Earn lets eligible users earn interest and additional rewards by sending USDT from their Petra wallet to Aries Markets, a third-party DeFi lending protocol. Interest and rewards can be claimed and redeployed to Aries through the Earn feature in the Petra app. Petra is a self-custodial wallet and we never have access to or control over your assets or private keys; you assume all risks associated with Petra Earn and engaging with third-party DeFi protocols. See our Terms (opens in a new tab) for more information.

What type of interest and rewards can I expect from using Earn to access Aries Markets?

Aries Markets publishes details on its website (opens in a new tab) about how much interest and rewards users can expect to receive from using their lending pools. Aries calls this amount its “Deposit APY,” which consists of two elements: 1) interest Aries users receive on an annualized basis, which is provided in USDT; and 2) additional rewards which are provided in APT on an annualized basis to Aries users. References to the “Current APY” that you may see in the Earn Feature simply reflect the “Deposit APY” amount published by Aries on its website and are not calculated by Aptos Labs. This amount is provided for informational purposes only and is displayed as a convenience. Aptos Labs does not calculate nor guarantee the accuracy of that amount. The rate can change at any time and is not guaranteed.

Is Earn available to all Petra users?

Earn is not currently available to users who reside in the United States and other select jurisdictions. More information eligibility can be found in the Wallet Petra Terms of Use (opens in a new tab).

Does Petra operate the lending pools?

No. Aries Markets is a third-party decentralized trading protocol that operates lending pools. Petra integrates Aries’ APIs for convenient access via Petra Earn. If you use Earn, you assume the risks of lending assets, including illiquidity, devaluation, lockup, and potential loss of assets.

What is Aries Markets?

Aries Markets is a third-party DeFi protocol where users lend and borrow digital assets, and can access other DeFi products and services. Petra Earn simplifies sending USDT to Aries lending pools in just one click. Learn more about Aries Markets here (opens in a new tab).

Where are the supplied tokens stored?

Tokens are held in pools controlled by Aries' smart contracts. Petra never controls or has access to your assets.

How much interest can I expect?

Interest generated by DeFi lending protocols depends on supply and demand. Rates may drop if more lenders participate, or if demand for borrowing decreases. Please check Aries Markets (opens in a new tab) for the latest rates.

What are rewards and how can I claim them?

While you accrue USDT interest by supplying USDT to an Aries lending pool via Earn, you may also earn APT rewards distributed by Aries. When you claim APT rewards using Earn, they go to your APT balance in Petra, not your Earn balance.

Can I earn interest on rewards?

Yes, by swapping APT rewards for USDT and redepositing them to the lending pool. You can do this via the “Claim and Deposit” button. This allows you to swap your APT rewards for USDT using a third-party liquidity pool and then deposit them back into an Aries lending pool with one transaction.

Are there risks with Earn?

Blockchain and DeFi are experimental technologies with risks, including potential total loss of assets. You should always perform your own research and ensure you’re comfortable with these risks. By participating in Earn, you accept all risks, such as smart contract, liquidity, collateral, token, system, oracle, regulatory, and market risks. To learn more visit Aries Risks and Parameters (opens in a new tab) and Aries Lending and Borrowing FAQs (opens in a new tab) and our Terms (opens in a new tab).

How do I stop using Earn?

To withdraw all USDT from the Earn feature, tap “Withdraw” in Earn, then tap the “Max” button to withdraw your full USDT balance and confirm the transaction. All of your funds will be returned to your Petra wallet, including any unclaimed rewards when you choose Max.

To fully stop using Earn, go to Settings, select "Stop using Earn," and press Save. This action claims all unclaimed rewards, withdraws your entire balance from Aries, and resets the Earn feature in Petra.

#Can I use other lending protocols with Petra? While Earn currently only provides access to Aries Markets lending pools, you are free to interact with any lending protocol on the Aptos network using your Petra wallet.

#Do I have to use Earn to access Aries? No, you can access Aries directly via their website (opens in a new tab).

How are transactions performed?

You must approve each transaction (Deposit, Withdraw, Claim & Deposit) in the app. Network gas fees apply to all transactions performed in Earn.

• Clicking “Deposit” initiates a transaction that deposits your desired amount of USDT in a lending pool on Aries Markets.
• Clicking “Withdraw” initiates a transaction that withdraws your USDT from Aries and sends the token amount to your USDT wallet balance in Petra.
• Clicking “Claim & Deposit” initiates a transaction that withdraws APT rewards, swaps those rewards for USDT and redeposits that USDT back into the Aries lending protocol.

What fees are involved with using Earn?

Petra does not currently charge fees related to the Earn feature, but network, gas and third-party fees may apply. These may include:

• Aptos network gas fees, which apply to all blockchain transactions, including the Deposit, Withdraw, and Claim & Deposit transactions.
• Fees charged by third-party DeFi protocols to convert APT rewards to USDT when using the “Claim & Deposit” transaction.
• Withdrawal fees charged by third-party DeFi protocols like, especially during periods of low liquidity or high demand.
• Transaction fees for purchasing digital assets like USDT on onramps from the relevant service providers.

Are there lock-ups or minimums?

Aries may impose these restrictions at their discretion.