Most things in life are better with friends. Summer nights, swiping right, and school dances. But few actually pay you to do them. Earning high APY together on Donut is one of the few and our Refer a friend boost now makes it even more valuable. 

We’ve wanted to sweeten this boost for a while. To make it more rewarding to tell your friends about Donut. More profitable to post your referral link in group chats. More lucrative to lay outside a bank and show people how to earn 70x more interest on their money. 

Now it is, and the best part is that it’s sweeter for your friends and family too.

How to earn extra APY

When you refer a friend to Donut and they make their first deposit, you both will receive +5% APY for 5 days. Refer multiple friends at the same time and you’ll earn even more. The Refer a friend boost is uncapped and stacks, which means you can earn the following with it: 

  • Refer 1 friend = +5%

  • Refer 5 friends = +25%

  • Refer 10 friends = +50%

We want you to stack your boosts and build APY skyscrapers. That’s why you can invite as many friends as you’d like. Strangers too!

How to refer a friend to Donut

To refer a friend to Donut, follow these steps in the Boosts section of your app:

  1. Select "Refer a friend" from the opportunities list

  2. Share your referral link to your soon-to-be-lucky friends

  3. Earn +5% APY when they make their first deposit

Repeat as many times as you’d like.


What’s the best way to refer friends?

The good thing about the Refer a friend boost is that it uses a referral link unique to your account. In today’s world, you can share a link just about anywhere. Here are a few ideas to maximize your reach:

  • Make a viral TikTok about Donut

  • Publish a review of Donut on Medium, Reddit, or Substack

  • Stand outside of a bank with a sign that reads “Ask me how to earn 70x more interest on your money”

Do Refer a Friend boosts stack?

Refer a friend Boosts stack for the referring user. When you refer two friends to Donut, and they make their first deposits on the same day, they each receive +5% for 5 days, but you receive +10% APY for 5 days. If you do the math here, your APY can grow pretty high, pretty quickly. 

How can my friend activate their referral Boost?

The Refer a friend boost requires no set-up. When you send a friend your referral link all they need to do is open your link, and enter their phone number. They’ll then get a text from us with a link to download Donut. Once they download Donut and make their first deposit, both of your accounts will automatically receive +5% APY for the next 5 days. 

What if my friend signs up but doesn't make a deposit?

Have you ever seen a puppy walk downstairs for the first time? Sometimes they need a little patience and a little reassurance. Your friends are just like puppies. You can check in on them, send them this blog, and if they have any questions let them know to reach out to us in-app or at [email protected] We also have a robust FAQ section they can browse. 

Earning more with friends


We imagine your friends will have questions, especially when you tell them they can be earning 70x more interest than their bank. Here is some information to bring them up to speed.

How does Donut Work?

At Donut, we aim to provide the easiest and safest earning experience in DeFi and web3. We convert your USD to digital dollars (USDC stablecoins) and put those dollars to work in lending markets seeking to provide you a protected base APY of 5% or more.

To power this lending service, we partner directly and indirectly with regulated US custodians Wyre, Genesis, and Abra. These prime brokers and institutions help protect against the risk of partner failure and introduce an added layer of safety through diversification. 

We use the USDC stablecoin. USDC is fully backed by dollar reserves making it one of the most secure stablecoins out there. Since its inception in 2018, USDC’s issuer Circle has conducted regular audits, published monthly attestations and weekly reserves breakdowns, and is fully regulated by the NY Department of Financial Services. 

How does Donut protect my funds?

As a FinCEN registered organization we are committed to doing our part in safeguarding the financial system from illicit use. To protect your principal and interest earned, all loans are collateralized by over 125%. If the value of the collateral falls, borrowers are margin called and required to top up or repay part of their loan. If not, they are automatically liquidated.

We also protect funds through diversification and securely lend funds via our wallet partner, Fireblocks. At the account level, we use the highest security standards of AES-256 alongside 2FA and personal pins. 

Do rising or falling crypto prices affect Donut’s APY?

Donut is Market neutral. When crypto prices go down, your funds stay protected and continue earning 5% APY. When crypto prices go up, your funds stay protected and continue earning 5% APY. You won’t see the outsized returns or volatility of speculative crypto or stock trading on Donut.

Are there lock-ins?

Nope. But, there are some really cool financial planning tools like Boxes that help users save towards specific goals. 

Are there more ways to increase my APY on Donut?

You can bet your Donuts there are. You can stay Boostin’ every day with Refer a friend, or discover more opportunities to earn in the Boosts section of your app. Just be sure to read our emails in full and follow us on social, so you never miss a Boost!

Getting started with Donut

Donut is available in the United States and can be downloaded from the App Store or Google Play Store.

Donuts with friends

Increase your APY +5% for 5 days every time a friend you refer makes their first deposit on Donut. Head to the Boosts section of your app to start introducing friends to the future of finance.

Real talk 🚨

Any saving and investment strategy puts your capital at risk.

The above information is intended for informational purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.