<aside> 💡 A short guide to understand the basics of Alluo, what it is, who it is for and how you can start earning 7% yield on your deposits.


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The Basics

This small guide is intended for Alluo beginners and DeFi enthusiasts alike. It tries to answer recurring questions about how to get started and how it works or makes money for liquidity providers (depositors).

Alluo's Overarching Ambition

Alluo's mission is to democratise access to financial services. We believe a student in Morocco should have the same access to financial services as a billionaire in London.

We want to enable users to save, spend, borrow and invest with a simple app. We believe this is important in a borderless financial world, where people should have the same access to finance wherever they are and not be bound by the geography of centralised entities.

Today, people do not change email every time they move countries whilst they have to open a new bank account, we believe decentralised finance can enable money to be akin to an email and Alluo’s ambition is to accelerate that vision.

We are doing this through bringing the benefits of decentralised finance (DeFi), to everyday customers around the world. Today, we provide anyone with an internet connection a high-yield, easy-access account that generates 7% per year on money they deposit in the Alluo Mobile or webapp.

How do we do that?

We want to make earning in DeFi incredibly simple, here is how you can do it.

There are 2 ways to enjoy Alluo, our mobile app and our decentralised web app.

  1. Our mobile app which is available on Google Play and the Apple App Store from alluo.com (and linked below). It is a non-custodial wallet deployed on the Polygon blockchain. Non-custodial means that the private keys of the wallet remains with the user so we (at Alluo) do not have access to the funds of the users unlike a centralised entity (e.g. bank or centralised exchange)
  2. Our decentralised web app, which is available on app.alluo.finance and can be used by people who have access to a non-custodial wallet such as metamask

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