Dharma is an open-source smart wallet without custodians developed on the Compound‘s network; which means that in addition to having full control over funds, at the time of account creation a cryptographic key is stored on the device, and not in the cloud. 

In the event of the device being lost, it is possible to recover the entire account by resetting the private key within 7 days.

In addition to being able to transfer crypto funds directly from any eligible wallet or exchange, it is possible to connect a debit card and deposit the desired amount, which will be instantly converted into a stablecoin and sent to the Compound liquidity pool, where it is then available for Borrowers. 

Thanks to the direct connection with the Compound network, users immediately start accruing interest on their USDC or Dai balance as soon as they make their first deposit. 

The idea is effective, simple and at the same time brilliant. It perfectly replaces the basic deposit operations of a traditional bank, or online banking account, ensuring an Annual Percentage Rate (APR) of 7%. No bank would ever be able to offer such a level on active interest rates.