How to supply assets at Lendfme? – dForce
Lendf.Me is a decentralized lending protocol with instant USDx lending and borrowing capabilities — when you supply USDx to Lendf.Me, it gets deposited into a lending pool, where borrowers can then borrow USDx directly from the pool. This liquidity pool model allows borrowers and lenders on Lendf.Me to deposit and withdraw USDx at any time (subject to the available amount of USDx in the pool).
You can use MetaMask to interact with Lendf.Me.
Supply assets
Please access Lendf.Me from https://www.lendf.me/
2. Log in with your MetaMask account and make sure you are connected to main Ethereum network.
3. Please authorize connection to Lendf.Me from your wallet.
4. The following information can be viewed on the homepage of Lendf.Me, including:
· WETH Supplied：the amount of WETH locked as collaterals to secure the loan
· Total Supply：the amount of assets sitting in the pool
·Supply APR：estimated supply APR based on current utilization rate
·Borrow APR：estimated borrow APR based on current utilization rate
· Utilization Rate：outstanding loans against savings
Multiple Asset were Supported on Lendfme including:USDx, USDT, imBTC, WETH. More assets will be launched in the future. Stay tuned!
5. Click on ‘Supply USDx’ to start to earn yields on your holdings.
6. Please enable USDx before supply.
7. Please confirm the transaction from your MetaMask. As a reminder, users need to pay gas fees to facilitate transactions in the Ethereum Mainnet.
8. Enter the amount of USDx you want to deposit and click on ‘supply’.
9. Confirm from your MetaMask account. Again, users need to pay gas fee to facilitate transactions in the Ethereum Mainnet.
10. Congratulations! You have successfully deposited some USDx to Lendf.Me (amount of USDx supplied will be displayed).
Now let us move on to see how to get back supplied USDx.
- Please switch to WITHDRAW page, enter the amount of USDx you want to take out and click on ‘WITHDRAW’.
2. Confirm the transaction from MetaMask and pay gas fees in ETH.
3. Congratulations! Now you have USDx returned to your wallet, which will be displayed on the top.
ATTENTION: There is a slim chance when the need for USDx loans becomes so strong that may cause a temporary drying up of liquidity. Correspondingly, interest for supply USDx will be algorithmically elevated to attract investors to provide more liquidity.
Published at Fri, 03 Jan 2020 06:24:08 +0000
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