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In this review, we evaluate the mechanisms behind the decentralized financeprotocols for generating stable, passive income. Currently, such savingsinterest rates can be as high as 20% annually, payable in traditional currencyvalues such as US dollars. Therefore, one can benefit from the growth of thecryptocurrency markets, with minimal exposure to their volatility risks. We aimto explain the rationale behind these savings products in simple terms. The keyto this puzzle is that asset deposits in cryptocurrency ecosystems are ofintrinsic economic value, as they facilitate network consensus mechanisms andautomated marketplaces (e.g. for lending). These functions create wealth forthe participants, and they provide unique advantages unavailable in traditionalfinancial systems. Our review speaks to the notion of decentralized basicincome - analogous to universal basic income but guaranteed by financialproducts on blockchains instead of public policies. We will go through theirimplementations of how savings can be channeled into the staking deposits inProof-of-Stake (PoS) protocols, through fixed-rate lending protocols andstaking derivative tokens, thereby exposing savers with minimal risks. We willdiscuss potential pitfalls, assess how these protocols may behave in marketcycles, as well as suggest areas for further research and development.

Decentralized Basic Income: Creating Wealth with On-Chain Staking and Fixed-Rate Protocols