Knight Lending Network
How to supply & borrow guide
If you haven’t yet had a read through our supporting documents on what the Knight Lending Network is about, be sure to go through these first before making any moves.
https://medium.com/knight-bsc-dark-knight-ftm/knight-lending-network-abb252474cf
Contents (Control F with the title to skip)
- Website
- How To Supply Your Assets
- How To Withdraw Your Supplied Assets
- How To Borrow Against Your Assets
- Repaying Your Loan
- Tabs
- Youtube Tutorial
Website
How To Supply Your Assets
This is the Supply Market side of the Knight Lending Platform
Press on the selected market that you wish to provide liquidity for.
Example for ETH
This pop up will open up.
Make sure that your wallet is connected first.
Press “Approve” and pay the gas fee that is associated.
This next window will open up and you will decide what amount of your token you’d like to deposit into the lending network.
You can press on any of the predetermined % (0,50,75,100) or you can type in your own value that you’d like to allocate.
Once you have the number you want press “Supply” and pay the gas fee
Once everything is complete you will see your supplied amount under the money market you provided for in this example .24 ETH supplied.
How To Withdraw Your Supplied Assets
Press on “Withdraw” tab after clicking on the market that you have assets supplied in.
When you have the amount that you’d like to withdraw then press “WITHDRAW”. Keep in mind that if you are using the asset as collateral if you withdraw too much of the asset you may become at risk for liquidation.
**You can’t withdraw collateral if it pushes you above the collateral factor. The protocol also will not allow you to withdraw an amount that would force you into an automatic liquidation.**
For example, if you max borrow $70 against your $100 of collateral (assuming a collateral factor of 70%), you won’t be able to withdraw any collateral — even if it wouldn’t cause a liquidation.
How To Borrow Against Your Assets
This is the borrow section of the Knight Lending Platform
After depositing assets for your collateral you will be able to borrow other assets. You will need to first click the “Collateral” button on the asset.
In this example there has been 10,000 KNIGHT supplied
After pressing “Collateral” press the “Enable…” button at the bottom.
Pay the gas fee & if everything is successful the button will now be orange.
Select the asset you now want to borrow against your collateral.
In this example we will use BUSD. You can choose any amount that you wish to borrow. Press “Borrow” when you have the amount you want.
Keep in mind that if the market does not have enough liquidity or if you are trying to borrow more than what you have deposited as collateral you will be unable to do so.
Once everything is successful you’ll see the amount you’ve borrowed in this case 1 BUSD.
Repaying Your Loan
Click on the asset that you have borrowed assets from & click “Repay”
Type in the amount that you wish to repay from your borrowed position or if you wish to fully pay everything off “All Debt”
Click the “Repay” button when you are ready.
Your new balance will be updated in the money market. (In this case the entire debt was repaid and no more borrow exists)
Tabs
Markets
Network
Profile
As new information is added this supporting document will be updated, be sure to bookmark this page to get access to the updated information.
Youtube Tutorial
DISCLAIMER: These articles are for educational purposes only. Nothing in this article should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial adviser before making any financial decisions. Investing in general and options trading especially is risky and has the potential for one to lose most or all of their initial investment
