Minimize idle crypto drag by temporarily sweeping your digital assets to higher interest accounts (in this case, Compound v2 Presidio). Open to exploring additional defi infrastructures.
Sparked from an idea on how to offset the rising MakerDAO stability fee costs. Goal is to use hot/cold idle ETH to capture interest overnight.
'jet-sweep' named after the spectacular football play.
- A sweep account automatically transfers cash funds into a safe but higher interest-earning investment option at the close of each business day, e.g. into a money market fund.
- Sweep accounts try to minimize idle cash drag.
- A sweep account service, however, may not always be free - and you might have to pay fees to your broker that might make the sweep not as attractive on a net basis.