Secured Finance User Guide
Lending with Simple UI
Test-Pilot Trading
Let’s lend some cryptocurrency using Simple UI. This is a powerful investment feature to earn income gain from cryptocurrencies. Since lending doesn’t require any collateral, the process is more straightforward.
Previously, I selected low-interest-rate maturity for borrowing. But now, I want to aim for higher returns.
By switching from the ‘Borrow’ to the ‘Lend’ tab, I see the interest rate is lower. The difference is called a bid-offer spread, which we’ll explain in the next advanced series.
In this scenario, lending in June 2023 offers an appealing interest rate. If the current environment continues, you could potentially profit by receiving high-interest rates while paying lower ones. (Disclaimer: This is not financial advice. The information provided here is for educational purposes only.)
I’ve set the same amount that I borrowed previously.
The safety feature is always active, before you send any cryptocurrency to the smart contract, in order to ensure that you commit the correct amount of currency.
Let’s confirm the loan amount.
The loan was successful.
Now you can see the available borrowing amount has increased.
You can see that the loan amount has been transferred from MetaMask.
The Active Contracts tab shows your loan transaction is booked properly.
You currently don’t have any open orders. This will show up if you place a limit order from Advanced UI (this will be explained in applicable Advanced Series).
The My transactions tab is also correctly showing both the borrowing and lending transactions.
Step-by-Step Guide Series
DeFi Apps Onboarding Guide
This guide will walk you through the steps you need to take to start using DeFi apps. You’ll learn how to set up your MetaMask wallet, connect it to DeFi apps, and get test ETH from Sepolia faucets.
- Setting up MetaMask Wallet
- Connecting Your Wallet
- Getting Test ETH from Goerli Faucets (We have moved to Sepolia!)
- Getting Test ETH from Sepolia Faucets
Secured Finance User Guide
This guide will show you how to use Secured Finance, a platform for borrowing and lending cryptocurrency. You’ll learn how to prepare test tokens for practice, manage collateral, and borrow or lend using a simple UI.
