Lending & Borrowing
Last updated
Last updated
The Canto Lending Market at app.canto.io/lending allows users to lend and borrow assets. Currently, USDC, USDT, and NOTE can be supplied to and borrowed from the Canto Lending Market. Additionally, USYC can be supplied.
To supply an asset to the Canto Lending Market, follow these steps:
On the app.canto.io/lending homepage, click SUPPLY NOTE. For other assets, click Supply in the RWAs or Stablecoins tab.
Enter the quantity of the asset. If necessary, approve the token's transfer.
Click Confirm and confirm the transaction in your wallet.
Once the transaction has been mined, asset-specific cTokens will be minted to your wallet. These tokens represent your lending position and are automatically burnt when withdrawing the supplied asset.
To withdraw a supplied asset from the Canto Lending Market, follow these steps:
On the app.canto.io/lending homepage, click SUPPLY NOTE. For other assets, click Supply in the RWAs or Stablecoins tab.
Switch to the Withdraw tab and enter the quantity of the asset you wish to withdraw.
Click Confirm and confirm the transaction in your wallet.
If you have open borrow positions, note that you will not be able to withdraw if the hypothetical borrow limit usage exceeds 100%, as this would result in liquidation.
In order to borrow an asset, there must be enough supply in the Canto Lending Market to borrow against. To do so, follow these steps:
On the app.canto.io/lending homepage, click BORROW NOTE. For other assets, click Borrow in the Stablecoins tab.
Enter the quantity of the asset you wish to borrow.
Click Confirm and confirm the transaction in your wallet.
Note that it is possible to manually enter a borrow amount whereby the borrow limit used exceeds 80%, but this is not advisable due to liquidation risk.
To repay a borrowed asset, follow these steps:
On the app.canto.io/lending homepage, click BORROW NOTE. For other assets, click Borrow in the Stablecoins tab.
Switch to the Repay tab and enter the quantity of the asset you wish to repay.
Click Confirm and confirm the transaction in your wallet.
