ETH Borrowing on Yield Protocol is now available!
ETH is now available as a borrowable asset on Yield Protocol V2. Get started today by visiting app.yieldprotocol.com
There are three ways users can benefit from the new ETH series: users can borrow ETH, lend ETH, or provide ETH liquidity to borrowers and lenders.
Users can now pool their ETH in a fixed term liquidity provider strategy, earning variable yield from borrowers and lenders.
Your borrow interest rate for ETH is guaranteed until the term expires, at which the interest rates will become variable with Compound as the reference rate.
To start, the first terms available will be June 2022 and Sept 2022.
Quickstart (To Borrow ETH)
2. To borrow, select the “Borrow” tab
3. From the dropdown, select ETH as the borrowable asset. Input the amount of ETH you want to borrow and click “Next Step”.
4. From the dropdown, choose from a list of supported collateral to be used against your ETH borrow. We are constantly adding new collateral by request from the community, so reach out on our Discord if there is something you want to see us add! We recommend using a collateral ratio of over 250% to be on the safe side. Click “Next Step”.
5. Confirm the parameters of your loan. If everything looks correct, click “Borrow” which will start an Ethereum transaction to confirm.
