Frequently Asked Questions

What is Petra Earn?

Petra Earn was a feature that let eligible users earn interest and additional rewards by sending stablecoins, USDT or USDC, from their Petra wallet to Aries Markets, a third-party DeFi lending protocol. Petra Earn has been retired. No funds will be lost — you can continue managing your funds directly through the Aries Markets dapp (opens in a new tab), accessible via the Explore tab in Petra mobile.

How do I access my funds now that Earn has been retired?

Open Petra mobile, go to the Explore tab, and navigate to Aries Markets (opens in a new tab). You can manage your positions directly there.

What type of interest and rewards can I expect from 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 the stablecoin; and 2) additional rewards which are provided in APT on an annualized basis to Aries users.

Does Petra operate the lending pools?

No. Aries Markets is a third-party decentralized trading protocol that operates lending pools. If you use Aries, 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. 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.

Are there risks with using Aries?

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, 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).

Can I use other lending protocols with Petra?

Yes. You are free to interact with any lending protocol on the Aptos network using your Petra wallet via the Explore tab.