Borrowing Assets on Hard Protocol
Kava Labs is excited to debut the new features and improvements we have been developing recently. As of April 8th at 15:00 UTC, Kava 5 and Hard V2 are now live. Users can now supply and borrow assets to the Hard protocol, making it a full-functional lending platform.
These upgrades will also bring significant boosts to performance and reliability to the entire Kava ecosystem. A dedicated bridge has also been launched to improve connection consistency for Trust Wallet users. Plus, users will notice an improved UX/UI with both Kava and Hard protocols merged into a single application, making switching between them seamless.
Let’s explore the new Hard borrow functionality. Initially, BUSD will be the sole asset eligible to borrow. Other assets will be phased in shortly after via governance. Here are the steps to borrow BUSD (and eventually other assets) on Hard Protocol.
1. Connect to the Hard app with Trust Wallet.
2. Find BUSD and click “Supply/Withdraw.”
3. Select “Supply” and choose the amount of BUSD you wish to supply.
4. Sign and confirm the transaction in Trust Wallet.
5. After you’ve successfully supplied BUSD, click “Borrow/Repay.”
6. With Borrow selected, input the amount of BUSD you wish to borrow.
7. Sign and confirm the transaction.
Congratulations — you’ve successfully utilized Kava’s fully-functional lending protocol!
See what else we are planning for the future as we continue to push DeFi forward: https://medium.com/kava-labs/kava-2021-roadmap-91f839a0907b
Stay in touch!
- Follow us on Twitter: https://twitter.com/kava_labs
- Join the conversation on Telegram: https://t.me/kavalabs
- Checkout our code: https://github.com/kava-labs
Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making investment decisions.
