What is the Yielding Protocols(Lendf.me)?

Lendf.me is a monetary market agreement in the dForce ecosystem that supports stable currency demand deposits to generate interest and instant loans, and is compatible with all ERC20 tokens. Users can deposit stablecoins through Lendf.me and earn deposit income, or obtain instant loans by collateralizing crypto assets. All transactions will be automatically executed through smart contracts, and users do not need to trust assets to third-party institutions, and the cost is low.

Lendf.me currently supports borrowing in multiple currencies, USDT, USDx, USDC, PAX, TUSD, BTC, ETH. Users will not be charged a fee when depositing assets. Lending assets from Lendf.me will charge a fee of 0.01% from the loan amount. In terms of preventing default, Lendf.me requires borrowers to deposit mortgage assets with a value of not less than 125% of the loan amount in the smart contract before applying for a loan. And once the asset mortgage rate is lower than 125%, users’ failure to replenish mortgage assets or repay loans in a timely manner will trigger a liquidation mechanism.

How to use the Yielding Protocols(Lendf.me)?

Download(Bitpie.com) and open Bitpie wallet (Pro Version)then find dForce

For iOS users, you can search dForce.network through in the Discover Page

For Android users, you can find both the Lendf.me and USDx in the Discover Page

2. Deposit for interests. Choose the coin you gonna deposit(USDx as demo)

As shown in photo 3, after depositing assets, you can see the current deposit limit and interest rate.

Collateral lending: Take USDx deposit and USDT loan as examples

I have deposited 1USDx in the previous step. based on the 125% crypto-assets cover ratio, it can be calculated that the amount of USDT that can be lent is 1 / 1.25 = 0.8. The safe value in the image is the lower risk borrowing line set by the system. Its value is equal to 80% of the loanable amount, that is, the safe value = deposit amount / 1.25 * 0.8 which equals to 0.64.