earnpark
EarnPark USDC LPCustodialCCC
custodial

EarnPark USDC LP is a custodial CeDeFi earn product from Earnpark Limited (BVI) that pools client USDC and deploys it into concentrated liquidity provision on DEXs, market-making algorithms on centralised and decentralised venues, and lending to borrowers. Assets are custodied through Fireblocks MPC-CMP at the deposit and reserve stages, with on-demand withdrawals processed within one business day. A self-attested proof of reserves dated 19 August 2026 reports 102.1% coverage across 13 published wallet addresses, with 76% of assets held on Binance.

CCC
High RiskPotential A-
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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 & Verifiability49
RLSRegulatory & Legal Standing52
YSYield & Strategy43
LTLiquidity & Terms78
Updated Aug 26, 2026Detailed scoring breakdown ↗Challenge this rating ↗Learn about our ratings ↗
Market Details
Fee0% management on LP; profit share (rate undisclosed); free wallet withdrawals, ~$2 flat network fee externally
CustodianFireblocks
InsuranceNo
Founded Since2022
Strategy TypeMarket-making
Proof Of ReservesYes (self-attested, 13 on-chain wallet addresses + exchange statement, 102.1%)
Supported AssetsUSDC
Regulatory LicensesBVI (Earnpark Limited, No. 2149760); no substantive license (BVI VASP application pending, no capital floor); SEC Form D (Reg D 506(c)) notice filing only
Stated Withdrawal TimeOn-demand
Component Ratings
SecurityCCC-49
StrategyCCC57
OperationsCCC+67
Key Strengths
S1Roughly four years of verifiable operation through real market stress — live since July 2022 through the FTX aftermath, the 2024–2025 drawdowns and the February 2026 crash with reserves maintained above 100% and withdrawals processed (Proof of Reserves)
S2Named, verifiable founding team with a clean record and no confirmed security breach or unreimbursed customer-fund loss (About Us · Companies House)
S3Tier-1 Fireblocks MPC-CMP custody carrying recurring SOC 2 Type II and ISO 27001 certification at the custodian level (Fireblocks)
S4Fund locations genuinely disclosed — 13 on-chain wallet addresses published with a quantitative per-venue allocation split (Proof of Reserves)
S5Clean regulatory record with a full AML programme — video-based KYC, dual parallel AML screening, sanctions screening and ongoing monitoring (KYC/AML Policy)
Key Risks
R1The advertised headline rate is not attainable as presented and EarnPark's own pages disagree on what it is — "up to 10% APY" on the homepage and asset page against "up to 5% APY" in the USDC token-page FAQ, with no base rate published anywhere and PARK Yield Boost conditions undisclosed (USDC asset page · USDC token page)
R2No independent security audit or penetration test of any kind on a closed-source platform; a pentest sits unresolved on EarnPark's own gap register
R3No licence class carrying any capital floor — the BVI VASP application is pending and that class carries no minimum-capital requirement in any event; the SEC Form D is a notice filing only (Legal Documents)
R4No USDC-specific yield evidence published — no named pools or pairs, no realised performance history, and no reconciliation between disclosed sources and the advertised rate
R576% of assets concentrated on Binance (up from ~62% in July 2026) against EarnPark's own binding 80% single-CEX cap (Proof of Reserves)

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