Supplying / Depositing Assets

To borrow on Forlend, you’ll need to put up supported assets as collateral.

Step 1. Go to Forlend and connect your MetaMask wallet.

Step 2: Supplying/Depositing Assets

Supply the desired amount of assets to Forlend by clicking on "SUPPLY". Keep in mind that all DeFi loans, including those on Forlend, are over-collateralized. The more you put up, the higher your borrowing limit, but what you put up can be seized if you get liquidated.

Step 3: Earning interest

Depositors/borrowers will receive interest on their deposited assets that are algorithmically adjusted based on market conditions. Each supported asset has its own interest rate market with a different interest rate (floating rate, adjusted for each block based on supply/demand). When users (or applications) supply an asset, they begin earning a variable interest rate instantly. Interest accrues every block, and users can withdraw their principal plus interest anytime.

More details on the interest rate mechanism:

Interest Rate Markets

Step4: Withdrawing Assets

Withdrawing Assets