About Cheese Bank
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How to use Cheese Bank lending service?
1.Notice
（1）To use the webpage version of Cheese Bank, please download and install Metamask wallet first. Please refer to tutorial here.
（2）Please pay attention that a same account should not both supply and borrow the same currency.
（3）Interest Rate will fluctuate according to the market change.
2.How to supply and get revenue?
（2）After entering the supply page, click【Unlock Wallet】 to connect the contract, then you could see datas such as the Supply APY and Staking APY of each asset. Select the currency or LP token according to your personal demand, and click【Deposit】. 🎉🥇The Cheese LP tokens have a weighted share of highest profits and chose Cheese-ETH LP Pool can earn highest returns 🎉🥇
（3）Input the quantity you want to deposit, you can view the expected Staking APY and Supply APY etc. and click 【Confirm】
📍【Approve】 is required for the first time to deposit. After successfully approve, click【Deposit】again. If you choose to deposit ETH, this step will skip;
📍When you deposit ETH, USDC and other tokens, the income you get is "Supply APY + Staking APY"; when you deposit uniSwap LP tokens, since LP token cannot be lent, you get "Staking APY" as revenue.
（4）Click【confirm】, the wallet contract will be called to pay the gas service charge, and wait for the blockchain confirmation successfully. At this time, the Supply has been completed. You can see the supply status of your current assets and yield-farming information at the top of the page.
3. How to borrow and get revenue?
（1） You must participate in the deposit to ensure that there is a certain amount of funds in the account before you borrow. Enter the supply page and click【Collateral】of the assets that you have already deposited.
📍 In the process of participating in the loan, you should always pay attention that when the value of your assets drops to the Loan-To-Value (for example, ETH drops to 75% of the original asset value), your assets will be seized in liquidation. It is suggested that when the mortgage rate reaches 80% - 85%, you should pay attention to whether to supply more or withdraw liquidity.
（2）Click 【confirm】 to confirm the payment of gas fee in the wallet and enable your asset as collateral. Then visit the borrow page.
（3）Enter the borrow page, select the currency you want to borrow in the market according to your own demand, and click 【Borrow】
📍 Assets that have been deposit by the same wallet account cannot be borrowed at the same time.
（4）Input the amount you want to borrow, and pay attention to the change of the borrow limited to prevent the account from being seized in liquidation. Click 【Confirm】and pay the gas fee in your wallet.
（5）After transaction is confirmed, you can see the borrow status of your current assets and yield-farming information at the top of the page. (data is for reference only, not in reality)
📍 When you finish borrowing, you will get "Supply APY + Supply Staking APY + Borrow Staking APY- Interest payable" as revenue, reaching the highest triple income!
4.What's more?
When you visit the Markets page in the navigation bar, you can refer to various data.
Last modified 1yr ago