My curiosity got the best of me and I've decided to test/trial it with $1000. Post opening the account I've learned a little bit more, there is a required 60 day "aging period". So I can't get my money back out for at least 60 days. So it seems almost like a mini short term CD situation.
But it's also interesting because it pays out the interest daily, and the interest I've made is available for withdraw immediately. I think that ties back into the "boost" portion of the app though. If I answer daily questions you get "boosts" so you can increase your rate further. Right now I have a 1.15X boost for 24 hrs. As long as you check in daily and apply boosts you can actively increase your yields, almost like a game.
I'm still pretty skeptical and don't understand how they are possibly affording to pay out 3% as a base APY but am hoping to learn more!!!