Depositing & Withdrawing
This page will guide you how to lend your idle assets. We will use USDT as an example.
Buy ETH and USDT on your favorite crypto exchange
Transfer both your ETH and USDT to your wallet on Optimism Network ETH is used to pay for transactions on Nenofi. Since we're built on top of Optimism, the transaction fee is much cheaper than on Ethereum. You will likely need less than $10 to cover your transaction fees for a while.
Navigate to Nenofi App and Sign In with your wallet Navigate to the Nenofi at app.nenofi.com and click on "Sign In" button in the top right corner. Choose your wallet provider and approve the connection.
Navigate to Lend page Clink on 'Lend' on the navigation bar and you will be taken to our Lending page. This will show available pools that you can deposit into.
Choose a Lending Pool Select the USDT pool. Each pool shows the current APY you can earn by depositing your asset. This will take you to 'Add Asset' tab.
Approve your asset Click the approve button to allow deposits on Nenofi. Your wallet will guide you to approve the asset that you are going to deposit to deposit, then click 'Approve' on your wallet. A confirmation message will pop up to show that it is 'Approved'.
Deposit your asset Once it is approved, enter the amount you want to lend and click on 'Deposit'. Wait for the transaction to complete.
Enjoy your yield
Remember, you can withdraw your funds along with the earned interest anytime. Navigate to 'Remove Asset', click on "Withdraw", and confirm the transaction.
It's important to note that lending assets in DeFi platforms, including Nenofi, involves risk. Please make sure to understand these risks before you start. Happy lending!
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