📥Lend / Borrow

Intro

Users are required to deposit their preferred assets, which must be compatible with the protocol. By doing so, users have the opportunity to generate interest based on the asset's demand for borrowing in the market. Furthermore, the assets that are deposited can serve as collateral, enabling users to borrow other assets. The interest earned through these deposits helps offset the accumulated interest charges from borrowing.

slTokens (e.g., slUSDC, slUSDT, slBTC, etc.)

Depositors will receive tokenized yield-bearing tokens (slTokens) that are essential for withdrawing supplied assets from the SolidLizard Money Market when needed.

slTokens can be freely transferred and traded, functioning like any other cryptocurrency on the Arbitrum chain.

As the platform expands, more token pools will be introduced into the protocol. Initially, these additions will be determined by the core team. However, the protocol's governance may transition into a Decentralized Autonomous Organization (DAO) in the long run. The inclusion of additional pools will be subject to approval through community votes and proposals.

Lend assets

When you supply assets to SolidLizard Lending, you earn a variable interest rate paid by borrowers, and this interest is compounded into your position at each block.

To start earning interest by supplying assets, follow these steps:

1. Connect via MetaMask, Rabby or another any supported wallet app to the SolidLizard Lending app.

2. Go to the "Lending" page and go the "Lend Assets" panel

   
3. Choose the specific asset you wish to supply. For instance, if you want to supply USDC, click on the USDC market.

4. Approve the chosen asset. This action will trigger a transaction confirmation in your wallet. Be aware that a small gas fee applies, so ensure that you have some ETH available in your wallet.

5. Specify the amount you want to supply. The selected assets are directly transferred from your wallet to the SolidLizard Protocol, instantly earning you interest every block. This earned interest will be automatically added to your Supply Balance.

Borrowing assets

After supplying your assets, the next step is to activate them for use as collateral. You can accomplish this by going to the bottom panel and clicking on you desired collateral.

Following that:

1. Click on the "collateral" button linked to your supplied asset and validate your transaction on your wallet

2. Go to the borrow tab on the "Lending" page and chose the asset you want to borrow. You are free to borrow the same assets that you chose as collateral

   
3. Click on the "Borrow" button and specify the amount you intend to borrow

4. Validate the transaction in your wallet.

5. A pop-up will appear, confirming a successful transaction.

6. After successfully completing these steps, you can then review your supply and borrow balances by clicking on the "Your review" button on top of the "Lending" page