earnpark
EarnPark BTC LPCustodialCCC+
custodial

EarnPark BTC LP is a custodial CeDeFi earn product from Earnpark Limited (BVI) that deploys user Bitcoin into on-chain liquidity provision (Uniswap, GMX) and BTC lending to perpetual-futures traders. It pays a fixed 3.5% indicative APY via daily payouts with on-demand withdrawals, holding assets through Fireblocks MPC custody. A self-attested proof of reserves reports 106.5% coverage across ten on-chain wallet addresses.

CCC+
High RiskPotential A-
AAAAAABBBBBBCCCCCCD
OTRTVRLSYSLT
CurrentPotential

This rating is based solely on publicly available information. Custodial platform risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from CCC+ to A- reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.

OTROperator Track Record78
TVTransparency & Verifiability58
RLSRegulatory & Legal Standing67
YSYield & Strategy89
LTLiquidity & Terms78
Updated Jul 8, 2026Detailed scoring breakdown ↗Challenge this rating ↗Learn about our ratings ↗
Market Details
Fee0% management; performance fee (rate undisclosed); free wallet withdrawals
CustodianFireblocks
InsuranceNo
Founded Since2022
Strategy TypeMarket-making
Proof Of ReservesYes (self-attested, on-chain wallet addresses, 106.5%)
Supported AssetsBTC
Regulatory LicensesBVI (Earnpark Limited, No. 2149760); no substantive license (BVI VASP application pending); SEC Form D (Reg D 506(c))
Stated Withdrawal TimeOn-demand
Component Ratings
SecurityCCC58
StrategyBB84
OperationsB-73
Key Strengths
S1Roughly four years of verifiable, stress-tested operation — live since June 2022 through the 2022 FTX-era, 2024–2025 BTC drawdowns, and the Feb 2026 crash with no fund loss and reserves maintained above 100% (Proof of Reserves)
S2Publicly named team with verifiable backgrounds and documented succession that survived a co-founder departure (Companies House)
S3Clean operator and regulatory record — no insolvency, scam, breach, or enforcement action on record (Trustpilot)
S4Fireblocks Tier-1 MPC custody with disclosed on-chain fund locations (ten addresses) plus custodian-level SOC 2 Type II / ISO 27001 attestation (Fireblocks)
S5Documented, market-consistent yield — specific venues/pairs named, fixed 3.5% sits below realized 5.1–5.15%, no leverage or own-token dependency
Key Risks
R1No independent security audit or penetration test of the closed-source platform, APIs, or custody integration (the single High-risk item)
R2Proof of reserves is self-attested with no independent third-party attestation (Proof of Reserves)
R3MPC authorization threshold undisclosed, all signers are one entity, and the setup is not independently verified
R4No platform-level insurance; only indirect, undisclosed-scope custodian coverage with liability disclaimed
R5BVI domicile with no substantive operating license (VASP application pending) — structural, non-improvable (SEC EDGAR)

Get the full picture today

Request the full rating report and gain access to unparalleled rating data & information.

Institutional-Grade Research Delivered to Your Inbox

In-Depth Research ReportsIn-depth analysis on staking protocols and yield strategies
Risk Assessment ReportsComprehensive risk evaluations for capital allocators
Exclusive Events & Market IntelligenceEarly access to Digital Asset Yield Summit, and more

Join 12,000 institutional allocators worldwide. No spam, unsubscribe anytime.

Institutional Research Reports