How to borrow or lend DEP in DeFiPie

・ Explaining step by step to lend / borrow DEP in DeFiPie

Overview:

I. What is DeFiPie?

II. How can I borrow DEP from DeFiPie?

III. How can I lend DEP to DeFiPie?

IV. What is Pie distribution?

V. Let’s experience “Play and Earn” by DEP!

I. What is DeFiPie?

DeFiPie is a decentralized bank, helping users to earn lending interest and take out crypto loans which allows everyone to create lending pools for any assets on Ethereum and Binance Smart Chain networks.

Digital Entertainment Asset Pte. Ltd., an issuer of DEAPcoin (DEP) is a liquidity partner of DeFiPie on Ethereum mainnet.

DEP has successfully transformed itself from utility tokens to purchase NFTs to a trading asset in DeFi.

II. How can I borrow DEP from DeFiPie?

First, please visit DeFiPie. Once you connect your own Metamask or other wallets with DEP inside, then you will be able to see the images below. Next, click “BORROW” button on DEP which is listed in third after USDT as of 8th July 2021.(Yes! We are early adopters!)

After clicking “BORROW” ,you will see the screen below. You can decide how much DEP to borrow in the lower right of the screenshot below.

When you enter the amount to borrow, press “CONTINUE” button to go to the next step.

Once pressing the “CONTINUE” button, you can see the screenshot as follows. Final step is to press “BORROW” button and to confirm your transaction and gas fees. After the transaction is confirmed, you are the borrower of DEP! DEP will be deposited to your private wallet . Before you borrow DEP, you have to make your token collateralized in DeFiPie. Collateral factor differs in each token so please check DeFiPie. Please note that If the price fluctuates and reaches the loss line, the collateral will be cleared and your loss will e reallized. It would be better to provide affordable collateral.

III. How can I lend DEP in DeFiPie?

As mentioned above, if you want to lend DEP and gain interest income from borrowers, you can choose “DEPOSIT” button introduced in the previous section.

Same as deciding the borrowing amount, you can decide the amount to deposit in DeFiPie. When you decide the amount to deposit, please press “CONTINUE” button same as the previous section.

After pressing “CONTINUE” button, you can see the screen below. The final step to deposit DEP is only to click “DEPOSIT” button and confirm the transaction request and gas fees. Once the transaction has been confirmed, you are now DEP lender in DeFiPie!

If you want to remove your liquidity, you can always withdraw. Access “DASHBOARD” and press “WITHDRAW”. You can withdraw your asset soon.

IV. What is Pie distribution?

It is really great that DEP is selected as Pie distribution list. That is to say, if you deposit (lend) or borrow DEP, you can earn Pie token, which is the governance token of DeFiPie. This is a great benefit of DEP holders as there is a chance to earn not only DEP but also Pie tokens.

Pie token is the governance token of DeFiPie. If you own Pie token, you can vote ore propose to DeFiPie. In addition, Pie token is listed on several exchanges and be able to trade other tokens. Thanks to the Pie distribution, borrowing APY of DEP is minus! That is, if you borrow DEP, you can increase the amount of tokens!

Pie distribution tokens have a red mark in the right of the token name. You can also see Pie distribution page to confirm which tokens are Pie distribution.

V. Let’s experience “Play and Earn” by DEP!

You can start DeFi immediately by lending or borrowing DEP from DeFiPie. , If you’d like to purchase DEP, then you can also acquire from the following exchanges. Now is the time to sign up for a PlayMining wallet here to experience “Play and Earn” from today!

#Please do at your own risk. This is only for introduction purpose.

Bittrex Global：https://global.bittrex.com/Market/Index?MarketName=BTC-DEP
INDODAX：https://indodax.com/market/DEPIDR
OKEx： https://www.okex.com/spot/trade/dep_usdt#type=1
Bithumb Global：https://www.bithumb.pro/en-us/spot/trade?q=DEP-USDT
Bitrue：https://www.bitrue.com/trade/dep_usdt

DigiFinex： https://www.digifinex.xyz/zh-cn/trade/USDT/DEP

Uniswap v2：https://app.uniswap.org/#/swap

1inch：https://app.1inch.io/

Sushi：https://sushi.com/

DeFiPie：https://defipie.com/

Loopring：https://exchange.loopring.io/

Anyswap：https://anyswap.exchange/swap