What is DeFi Lending?
DeFi (Decentralized Finance) Lending on VALR allows you to earn interest by lending your cryptocurrencies without intermediaries. It utilizes a decentralized finance protocol, which is a blockchain-based, secure, and transparent lending system.
How to Access the DeFi Lending Feature on VALR?
- Hover over the Earn section in the Navigation Bar.
- Select DeFi Lending.
- Choose the cryptocurrency you want to lend from the available list.
- Click the Lend button.
- If you do not have the selected cryptocurrency, you will be given an option to Buy it first before lending.
- Enter the amount you wish to lend.
- Agree to the Terms and Conditions (T&Cs).
- Click Lend to complete the process.
Which cryptocurrencies are supported for DeFi lending on VALR?
Currently, we support DeFi lending for the below listed cryptocurrencies, please note that available options for DeFi lending may change over time.
- USDC
- USDT
- ETH
- More cryptocurrencies to be added soon.
Estimated Returns (APR - Annual Percentage Rate)
The estimated APR for each cryptocurrency will be displayed on the Lending screen when you select that particular crypto.
How Often Are the Rewards Distributed?
Rewards earned through DeFi Lending are paid hourly into your VALR account.
What Protocol Does VALR Use for Lending?
VALR uses the AAVE Protocol for lending, which is an on-chain (blockchain-based) lending system. It ensures transparency, security, and decentralization. We intend to support multiple protocols over the time.
Unlocking Your Lent Crypto
Unlocking (or un-lending) your crypto depends on the available liquidity. If there is sufficient liquidity, unlocking will be instant. However, in cases where liquidity is limited, DeFi unlocking typically happens once a day.
How to Unlock or Add More Amount to Lend?
- After successfully lending, click on the Manage button.
- From there, you can:
- Add more cryptocurrency to your lending portfolio.
- Unlock (or un-lend) your lent crypto.
How to View My Lending History and Interest Earned?
- Click on the Navigation option next to the Manage button.
- View your Lending History and Interest Earned.
- You can also download your entire transaction history in CSV format for record-keeping.
Is There a Minimum Amount for Lending?
Yes, there is a minimum amount for lending. If the amount you enter is below the minimum, the system will automatically notify you on screen.
--- The DeFi Lending feature is currently live on the Website. Coming soon to the Mobile App.