SquiStack
Product Docs
Everything you need to understand how SquiStack works — mechanics, rules, yield math, and exactly what happens to your money at every step.
What is SquiStack?
SquiStack is a Telegram-native savings and yield platform purpose-built for Africans who want to grow their money in dollar-denominated assets — without needing a crypto wallet, a foreign bank account, or any understanding of blockchain. You deposit naira. We do the heavy lifting. You earn yield in dollars and withdraw naira.
Everything happens inside Telegram through our mini app — no separate download, no new passwords, no complicated onboarding. Your funds are held in non-custodial smart contracts on Base L2, meaning no single entity (including SquiStack) can access your money unilaterally.
A squirrel doesn't spend every nut it finds — it stacks them for later. SquiStack is built on the same principle: consistent, disciplined saving that compounds over time into something meaningful. Stack consistently. Grow silently.
Fund your wallet — Transfer NGN via bank transfer to your SquiStack virtual account number (powered by Kuda). Funds settle in under 5 minutes.
Choose a vault — Pick AutoSave, SafeLock, CryptoFlex, or JointVault based on your savings goal, timeline, and risk tolerance.
Earn yield — Your USDC is deployed into battle-tested DeFi protocols on Base L2 — Aave v3, Aerodrome, Morpho. Yield accrues and is distributed periodically to your vault balance.
Withdraw when ready — Initiate a withdrawal from the Telegram bot. Your USDC plus earned yield converts back to NGN at the prevailing market rate and lands in your bank account within 2–24 hours.
How Yield Works
When you deposit NGN, SquiStack converts it to USDC (a USD-pegged stablecoin) at the prevailing market exchange rate. That USDC is immediately deployed into yield-generating strategies on Base L2. Yield is distributed periodically to your vault balance — the exact cadence depends on your product — and compounds automatically as your balance grows each cycle.
SquiStack doesn't rely on a single protocol. Your funds flow through a layered strategy designed to maximise risk-adjusted returns:
Aave v3 on Base
The primary layer. Aave is the most battle-tested lending market in DeFi with over $10B in TVL. Your USDC earns supply APY from borrowers who need liquidity.
Aerodrome Finance
The native AMM of Base. USDC/ETH and USDC/USDT liquidity positions earn trading fee revenue and AERO token rewards on top of base lending yield.
Morpho Optimizer
Morpho sits on top of Aave and Compound, peer-matching lenders and borrowers to improve rates. Users of Morpho typically earn 15–25% more than native Aave supply rates.
Compound v3
A secondary fallback layer for liquidity management and rate optimisation during periods of Aave rate compression.
All APY figures shown are based on trailing 30-day protocol performance and current SquiStack rate settings. DeFi lending rates fluctuate with supply and demand in real time. Actual returns may be higher or lower than the ranges displayed. Past performance is not a guarantee of future results.
Moving Money In & Out
SquiStack supports three deposit methods — designed to work whether you're a crypto native or completely new to digital assets:
Bank Transfer (NGN)
Transfer NGN from any Nigerian bank to your SquiStack virtual account number (powered by Kuda). Funds are received within 5 minutes. NGN is converted to USDC at the mid-market rate plus a transparent 0.5% FX spread.
Card / Apple Pay / Google Pay
Powered by the Privy on-ramp (MoonPay & Coinbase). Pay with any debit or credit card and your payment converts to USDC on Base and lands directly in your embedded wallet. Ideal for USD card holders.
Crypto Deposit (USDC)
Already holding crypto? Send USDC directly to your embedded wallet address on Base, BNB Smart Chain, Ethereum, or Avalanche. Only USDC is accepted — other tokens will not be credited.
Initiate withdrawals directly from the Telegram bot or mini app. Your USDC (principal plus accrued yield) is converted to NGN at the prevailing market rate and sent to your verified bank account. Processing time depends on your KYC tier.
Link and verify your bank account before your first deposit. This way, when you're ready to withdraw, there's no friction — funds land in your bank without any extra steps.
KYC & Transaction Limits
SquiStack operates in compliance with Nigerian Financial Intelligence Unit (NFIU) guidelines. Identity verification is handled via Smile ID. KYC is required before your first withdrawal.
🔄 AutoSave
AutoSave is the simplest and most accessible product in the SquiStack suite. It's designed for anyone who wants to save consistently without thinking about it — the same discipline behind standing orders and salary deductions, but with returns that actually outpace inflation.
You decide the amount, you decide the frequency — weekly or monthly — and SquiStack handles the rest. The yield rate reflects your commitment cadence: weekly savers earn 20% APY, while monthly savers earn 25% APY, rewarding the slightly longer capital commitment that a monthly schedule implies. At any point you can withdraw your full balance (principal plus accrued yield) with no penalty and no questions asked.
Your chosen amount is recorded as a contribution on your selected schedule and deployed into an AutoSave vault on Base L2. The vault allocates funds to Aave v3 as the primary yield source. Yield accrues in your vault balance and is distributed weekly by the SquiStack ops team.
You can contribute additional top-ups to your AutoSave vault at any time — each additional deposit joins the same vault and earns from the point it is credited.
There is no lock period on AutoSave. You can withdraw at any time, including mid-cycle. Your earned yield up to the most recent distribution is fully yours — there is no early-exit penalty of any kind.
Amaka saves ₦5,000/week for 12 months at 20% APY.
A Nigerian bank savings account paying ~3% on naira would have returned approximately ₦7,800 on the same deposits. At 20% APY on dollars, AutoSave delivered over 3× that return — and the naira depreciation working in your favour widens the gap further if the dollar rate moves up between deposit and withdrawal.
Emeka saves ₦20,000/month for 12 months at 25% APY.
Monthly savers get the slightly higher 25% rate precisely because their capital sits in the vault longer between contributions. The same ₦240,000 deposited in a traditional Nigerian savings account at 3% would have yielded roughly ₦7,200. AutoSave returned over 4× more.
Treat AutoSave like a salary deduction. Set your schedule the day you receive income and let the bot handle it. Most consistent savers report they "don't miss" the money because it's gone before they can spend it.
🔒 SafeLock
SafeLock is SquiStack's fixed-term deposit — the product every bank in Nigeria offers, but reimagined with returns that genuinely beat inflation. Traditional fixed deposits at Nigerian banks pay 10–15% per annum in naira, which barely keeps pace with inflation. SafeLock targets 55% to 200% APY, denominated in dollars, by combining DeFi lending, liquidity provision, and protocol rewards — with the rate calibrated directly to the length of your commitment.
The logic is simple: the longer you lock, the more certainty the vault strategy has over capital availability, and the more aggressively it can deploy that capital into higher-yield positions. Your lock term is your side of the deal; the elevated APY is ours.
SafeLock offers four fixed-term options. The APY is set at the time you open the vault and does not change for the duration of your lock:
6 months — 55% APY
Entry-level SafeLock. Still significantly higher than any naira fixed deposit.
8 months — 100% APY
The sweet spot for most savers. Capital doubles in dollar terms over the full term.
12 months — 130% APY
Full-year commitment. Highest sustained yield available outside JointVault.
18 months — 200% APY
Maximum commitment, maximum return. Your dollar balance triples over the lock period.
The smart contract enforces the lock period. If you need to access your funds before maturity, you can submit an early exit request. Your full principal is returned to you in full, but you forfeit all accrued yield. There is no cash penalty beyond losing the yield you would have earned — you simply get back exactly what you put in.
Sola locks ₦500,000 for 6 months at 55% APY.
A 6-month fixed deposit at a tier-1 Nigerian bank on ₦500,000 at 14% annualised would return roughly ₦35,000 in interest. SafeLock at 55% APY delivered nearly 4× that return in half the year — in dollar terms, insulated from naira depreciation.
Tunde locks ₦2,000,000 for 12 months at 130% APY.
A 12-month fixed deposit at a tier-1 bank on ₦2M at 14% would return ₦280,000 in interest. SafeLock at 130% APY returned over 9× more — and denominated in dollars, meaning naira depreciation worked in Tunde's favour rather than against him.
SafeLock is enforced by smart contract — not by SquiStack policy. No admin can unlock your vault early, including SquiStack staff. Only deposit what you are comfortable not touching for the full period.
⚡ CryptoFlex
CryptoFlex is built for a different kind of user — someone who already holds crypto and wants to accumulate more of the same asset, not just earn dollar returns. If you hold BTC and believe in its long-term value, why earn yield in USDC? CryptoFlex pays your yield in the same asset you deposited. More BTC. More ETH. More SOL. At the end of your contract, you get back more units than you put in.
This is structurally different from SafeLock. SafeLock is about dollar preservation and growth. CryptoFlex is about unit accumulation— a strategy often called "stacking sats" in Bitcoin culture. If the underlying asset appreciates, your returns are amplified twice over: once from price appreciation, and once from the additional units earned.
Deposited crypto is deployed into on-chain strategies appropriate for that asset class — wrapped BTC into lending markets, ETH into liquid staking derivatives (e.g. stETH/cbETH), and so on. The yield generated by these strategies is converted back into the native asset and added to your vault balance. At maturity, you receive your principal plus yield in the same crypto asset you deposited.
APY varies by asset. Bitcoin strategies currently yield 8–15% APY in BTC terms. ETH strategies yield 10–20% APY via liquid staking and lending. Higher-volatility assets like SOL and select layer-2 tokens can yield 20–40%+ but carry correspondingly higher smart contract and liquidity risk.
CryptoFlex vaults operate on fixed-term contracts, similar to SafeLock. The lock period is set at deposit time. Early exit returns your principal in the deposited asset but forfeits all accrued yield.
Chisom deposits 1 BTC into CryptoFlex at 10% APY for 12 months.
This is the CryptoFlex thesis: if you believe in the asset anyway, you're leaving yield on the table by simply holding it in a wallet. Stack more units while you wait.
CryptoFlex pays yield in crypto, not dollars. If the deposited asset falls significantly in price, your USD-equivalent return will reflect that decline — even if you earned yield in asset terms. Only deposit assets you intend to hold regardless of price movements.
👥 JointVault
JointVault is SquiStack's most culturally resonant product. Ajo (Yoruba), esusu (Igbo), and akawo (Hausa) are informal rotating savings clubs that have existed in Nigeria for centuries — groups of people who contribute a fixed amount monthly and take turns receiving the pooled sum. It's a powerful savings mechanism, but it suffers from fatal flaws: trust, transparency, and default risk.
JointVault takes everything that works about the ajo model — collective commitment, social accountability, structured cadence — and rebuilds it on-chain with smart contract enforcement and real yield on top. No organiser can run away with the money. No member can default silently. Every transaction is on-chain and verifiable.
JointVault is structured in nodes of ₦50,000 per month. Each node is an independent commitment unit. A user can hold one or multiple nodes simultaneously — the more nodes you hold, the higher your total contribution, your total yield payout, and your standing within the collective.
Every month for 12 months you pay ₦50,000 per node. All contributions are pooled into a shared vault, deployed into yield-generating strategies on Base L2, and earn 60% APY for the duration of the contract. At the 12-month maturity date, each member receives their principal plus their proportional share of the accrued yield.
Missing a payment is handled strictly and transparently. If you miss your monthly ₦50,000 contribution on any node:
Your node is frozen — No further yield accrues on that node from the missed payment date. Your previously earned yield is preserved, but no new yield is generated on it going forward.
The vault continues — The JointVault itself continues running until the 12-month end date. Your missed node does not affect other members or any other nodes you hold.
Maturity payout — principal only — At the 12-month mark, you receive the total NGN you contributed across all payments on that node — but you forfeit all accrued yield on it. You get back exactly what you put in, nothing more.
Ngozi holds 3 nodes and pays consistently for 12 months.
This is achieved through dollar-denominated yield applied to naira contributions. Even if the exchange rate holds flat, Ngozi's discipline alone earned her an extra ₦540,000 over the year — more than three full monthly contributions returned to her as pure yield.
Kemi holds 1 node and contributes ₦50,000/month for 12 months.
Compared to a traditional ajo where Kemi would have simply received back her ₦600,000 with no interest, JointVault returned her an extra ₦180,000 — just for contributing to the same collective she already trusted.
JointVault isn't just about the yield — it's about building a savings habit through commitment and community. The 12-month structure is designed to be a forcing function. People who complete the full cycle consistently report it as the single best financial decision they made that year.
Fee Schedule
SquiStack's fee structure is deliberately simple and aligned with your success. We charge a 15% performance fee on yield earned — meaning if you don't earn, we don't earn. There are no management fees, subscription costs, or hidden charges. The only other fees are operational costs:
| Fee type | Amount | Notes |
|---|---|---|
| Performance fee | 15% of yield | Deducted automatically from yield before crediting to your vault. The APY figures shown in this document are net of this fee. |
| Withdrawal fee | 0.5% (min ₦500) | Applied to the NGN withdrawal amount. Covers bank transfer processing costs. |
| FX spread | ~0.5% | On NGN ↔ USDC conversions. Mid-market rate ± 0.5%. |
| SafeLock early exit | Yield forfeited | No cash penalty — principal is returned in full. Yield earned to date is forfeited. |
| CryptoFlex early exit | Yield forfeited | Same as SafeLock. Principal returned in the deposited crypto asset. |
| JointVault missed payment | Yield forfeited on affected node | No financial penalty. The missed-payment node returns principal only at maturity. |
| Deposit fee | None | No fees on any deposit method. |
| Gas fees | Abstracted | SquiStack covers all on-chain gas costs. You pay nothing extra. |
Security & Custody
SquiStack is non-custodial. Your funds are held in smart contracts on Base L2 — not in a SquiStack bank account, not on a centralised exchange, not in any system that requires trusting our team. The smart contracts are the custodians. We deploy and manage the strategies, but we cannot withdraw your funds to an arbitrary address.
Wallet infrastructure
User wallets are managed via Privy's embedded wallet infrastructure. Each user has a unique self-custodial wallet on Base L2. Private keys are generated and encrypted on the user's device — Privy and SquiStack never have access to unencrypted keys.
Smart contract audits
All vault contracts are audited by independent security firms before deployment. Audit reports are published publicly. No contract upgrade or migration can occur without a timelock period and user notification.
Open source
All smart contracts are open source, published on GitHub, and verifiable on Basescan. Anyone can review, audit, or verify the code at any time.
Timelocks & multisig
Admin functions are protected by a 48-hour timelock and a 3-of-5 multisig. No single person — including the CEO — can unilaterally modify contract parameters.
Risk Disclosures
DeFi investing carries real and significant risks. Do not invest money you cannot afford to lose in full. SquiStack is not a bank, not a licensed investment advisor, and deposits are not insured by the NDIC or any government body.
Vault strategies execute via Solidity smart contracts. Despite professional auditing, smart contracts may contain undiscovered vulnerabilities. A contract exploit could result in partial or total loss of deposited funds.
SquiStack relies on Aave v3, Aerodrome, Morpho, and other third-party DeFi protocols. A failure, exploit, or governance change at any of these protocols could affect yield generation or, in severe cases, principal safety.
All APY figures are variable and fluctuate in real time with market conditions. Periods of low market activity, liquidity withdrawal, or DeFi market stress can cause yields to drop significantly — potentially to near zero. The ranges stated in this document reflect current settings and historical protocol performance; they are not guaranteed.
Your NGN deposits are converted to USDC. If the naira strengthens significantly against the dollar between your deposit date and withdrawal date, your NGN payout may be less than your original deposit — even if your dollar balance has grown. This is rare historically but theoretically possible.
The regulatory landscape for crypto assets in Nigeria and across Africa is actively evolving. Adverse regulatory changes could require SquiStack to modify, suspend, or discontinue products in certain jurisdictions.
While AutoSave allows withdrawals at any time, periods of extreme DeFi market stress may result in delays as on-chain positions are unwound. SafeLock, CryptoFlex, and JointVault cannot be liquidated early without forfeiting yield.
This documentation is for informational purposes only and does not constitute financial or investment advice. SquiStack Technologies is not a licensed investment adviser, bank, or securities dealer. Always conduct your own due diligence before committing funds to any savings or investment product.