Sirwin
Sirwin

DeFi Lesson 2- How to stake stable coins on Aave [Ethereum mainnet and Polygon].

By vanassen.eth | understandingadoption | 13 Dec 2022


 

    GHOST.

 Earning yield on stable coins is one of the quintessential components of decentralized finance. 

 Launch app.

 Connect wallet.

 First, choose the network you would like to access.

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  This will bring you to the asset page, which shows the supply rate, which is the reward for staking assets (lending), and the borrow rate, which is the cost to borrow assets.

  f8e15efb200eaa59386f32f09eebb6df52a846e0f194af16ee121f986a8a76ca.png

 This page will always provide data on liquidity of assets across the market, so that you can make an informed decision on staking your tokens. Clicking each one will give you even more information/historical data on the liquidity of each asset.

  Once you select an asset-

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  Confirm the transaction to the blockchain.

  Begin collecting yield.  

  The token that you deposit will be removed from your wallet and replaced with an AAVE token. For instance, if you deposit USDT, you will receive aUSDT token as a receipt to collect your original deposit.

  Consider buying a PokeGan NFT.

  You'll gain so much more than the basic outlines here. 

  Tokengated lessons provided by Omakasea. 

  Follow me on Lens and Twitter. 

 

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vanassen.eth
vanassen.eth

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