Product · 2 min read
Peppy Save: put some crypto out of reach
Lock USDT or ETH for 1, 3, 6 or 12 months, and it comes back to your balance on its own. How Save & lock works, what it costs, and why a lock that pays nothing can still be worth having.
Some money is easier to keep when you can't reach it: next term's school fees, rent that's due in three months, a cushion you keep dipping into. Peppy Save is for that money. You lock part of your USDT or ETH until a date you choose, and until then it can't be sent.
It doesn't pay you anything, and it doesn't pretend to. Its whole job is to keep money you've set aside from being spent.
How a lock works
In the app, Save lives under Save & lock. Choose Lock savings, then:
- Pick the balance: USDT on Tron, USDT on Ethereum, or ETH.
- Enter the amount, or tap Max.
- Choose how long: 1, 3, 6 or 12 months.
- Check the review screen, then approve with your PIN.
The review screen shows every figure before you confirm: how long the lock lasts, the date it ends, that it pays no interest, and what ending early would cost, as a percentage and as an amount.
The unlock date
You don't need to do anything when the date comes. The amount comes back to your balance on its own, and you can send it again.
The unlock date is the same day of the month, that many months later, in Lagos time. If the later month is shorter, the lock ends on its last day, so a 1-month lock made on 31 January ends on 28 February (or the 29th in a leap year).
What it costs
| What you do | Cost |
|---|---|
| Lock USDT or ETH | Free |
| Let the lock end on its date | Free |
| End the lock early | 2% of the locked amount |
Ending early costs 2% of the lock, taken from it, and the rest comes back to your balance. On a 500 USDT lock that's 10 USDT, and 490 USDT comes back. The app shows both figures and asks for your PIN before anything happens. Waiting until the date costs nothing. The fees page lists the same three lines.
What Save doesn't do
- It doesn't pay interest. Peppy pays nothing on locked savings, and the review screen says so: Interest, None.
- It doesn't move your crypto. The amount stays at your own address in your wallet, shown as locked, until the unlock date.
- It doesn't lock naira or TRX. You can lock USDT on either network, or ETH.
- It doesn't fix a value. A lock keeps the amount, not its price. ETH's price moves, and a stablecoin can lose its dollar value. Lock what you'd keep anyway.
Good to know
- You can have more than one lock. Each has its own amount and its own unlock date, and you see them all under Save & lock.
- Your PIN approves every lock and every early unlock.
- Save & lock shows how much of each coin you have locked, and when each lock ends.
See Peppy Save, or open the app and find Save & lock next to your balances.
