Eidoo Wallet is compatible with Compound Protocol and it allows its users to gain interests through cDAI tokens. Before you start, it's necessary to obtain DAI and then exchange them with cDAI tokens in Eidoo Wallet.
Please note: in this example there will be a swap between ETH and DAI, then between DAI and cDAI. If you already have DAI tokens, it's sufficient to make a deposit on Eidoo Wallet and exchange them with cDAI. At the moment the app is compatible only with DAI, but in the future there will be implemented other cTokens that will permit users to gain interests from different assets.
1) From the main menu click on swap, then select the amount of ETH you want to exchange, then click on review swap.
2) Check all the data and input your password to confirm the swap.
3) Once the transaction will be approved by the blockchain, DAI tokens will be available inside your wallet. To start gain interests, it's necessary to swap DAI into Compound's cDAI. From the main menu, click again on swap and select the amount you want to exchange, then click on review swap.
4) Once again, check all the data input your password to confirm the swap.
5) Congratulations! Through cDAI tokens your DAI will mature interests directly inside Eidoo Wallet. No further action is necessary: it's sufficient to keep cDAI tokens inside the wallet. From the main menu and from the dedicated cDAI page, you can check the current yearly interest percentage.
In case you don't want to swap tokens, you can buy DAI directly from Eidoo Wallet through bank transfer. To do it, click buy in the main menu, select Dai Stablecoin from the list of available cryptocurrencies and follow the instructions.
Interest notice: at the moment of the writing of this guide, cDAI interests rate was 7,38%: please note that interests may vary and they are calculated at every mined block. Interests are implicit: the user won't see his cDAI increasing, but he will see increasing just the counter value against DAI.
Example: if I get 100 DAI (100 USD) and I swap them into cDAI, with a 8% yearly interest, next year I will be able to swap 100 cDAI for 108 DAI (108 USD).