Supplying assets
Last updated
Last updated
This guide will walk you through the steps of supplying assets to ElaraLend’s Main Pool and Satellite Pools. The process varies slightly between the two, so follow the appropriate section based on where you're going to supply your assets.
In the main pool, users can supply assets directly through the operation window. There are no minimum or maximum limits for supplying assets, giving users full flexibility to manage their investments. To supply assets:
Connect your wallet to the Zircuit L2 network and ElaraLend platform.
Choose the asset you wish to supply from the main market.
Enter the amount you want to supply.
Review and confirm the transaction in your wallet.
To borrow assets, you must first enable supplied assets as collateral.
In main pool, users have the option to use their deposited assets as collateral for borrowing. This feature is accessible through the "Portfolio" page in the "Supply info" section, where users can toggle their assets to serve as collateral. Once enabled, the borrow limit is automatically adjusted according to the collateral value. This functionality provides users with the flexibility to leverage their assets efficiently while managing their borrowing needs.
Depositors on ElaraLend benefit from continuous earnings as their supplied assets accrue interest over time. The interest rates are dynamically adjusted based on each asset's market conditions, ensuring that depositors receive competitive returns. As part of the supply process, users receive eTokens (such as eBTC, eETH), which represent their supplied assets. The value of these eTokens increases over time, reflecting the accumulated interest.
In the satellite pool, users have two options for supplying assets, available through a tab in the operation window:
Supply as collateral to borrow: Users can choose to supply collateral (e.g., LST/LRT assets) to borrow other assets. This allows them to leverage their deposited assets for borrowing needs. Collateral in Satellite Pools is automatically enabled.
Supply WETH to earn: Alternatively, users can supply WETH to the satellite pool to earn interest. This option optimizes yield without the need to engage in borrowing activities.
Both supplying options in the satellite pool provide tailored strategies for users, based on their goals of borrowing or earning.
