This article was first published on Wanchain - Medium
WanLend is a decentralized financial management platform, users can deposit cryptos to gain interests, or borrow cryptos and pay interests.
The deposit, borrow, interest rate generation and collection are all controlled by smart contracts. The borrowing function supports users to mortgage a defined crypto and borrow other cryptos from the contract.
1. Open the WanLend website
Open WanLend with Google Chrome, URL: https://wanlend.finance/
Connect to WanMask extension wallet;
The assets of your account will be displayed in your WanMask;
The WanLend page is shown as below:
2. Deposit assets to gain interest rate
Deposit your crypto assets which are supported on this page. Now supported assets for supply are: WAN, FNX, wanUSDC, wanBTC, wanETH, and wanUSDT, 6 types of assets.
After supplying, a ‘wToken’ will be generated and your interest rate will be calculated.
2.1 Authorization for the first supply
Except WAN coins, the other 5 assets need to be authorized for the first time supplying.
Click a certain asset, the authorization window will pop up, click the Enable button, and confirm the authorization with WanMask;
In the supply area, click the token column you want to supply. In the supply window that pops up, enter the amount you want to deposit, then click the supply button, and confirm the deposit on the WanMask wallet.
Click the “Max” button to input the maximum amount with your balance;
It should be noted that the deposit interest rate here refers to the annualized rate, and it is variable with each block.
Assets with supply or loan will be displayed at the top of the column list first....
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Wanchain - Medium