On August 8th, the decentralized lending protocol HopeLend was officially launched on Ethereum mainet, marking a significant milestone for the decentralized stablecoin project Hope.money. As an integral component of the HOPE Ecosystem, HopeLend is a decentralized, non-custodial lending protocol that's set to redefine how you utilize and interact with assets not only within the HOPE Ecosystem and the entire DeFi space. Currently, the rewards APR for HOPE deposits remains around 20%, while the rewards APR for USDT deposits maintain at 6%.
In celebration of the mainnet launch of HopeLend, Hope.money meticulously prepared a series of campaigns and bountiful rewards. The event is set to continue until August 26th, and detailed guidelines can be found within the following article: https://hope-money.medium.com/celebrate-hopelend-mainnet-launch-with-multiple-giveaways-bc483136acfb
Let's begin with this guide! Follow the instructions step by step, interact with HopeLend, and win rewards.
HopeLend: https://app.hope.money/#/lend/dashboard
HopeLend is on the Ethereum mainnet and currently supports the Metamask, OKX, BitKeep and WalletConnect wallets. We recommend the Metamask wallet. Once your wallet is prepared, you can seamlessly connect to the official website and begin your HopeLend journey.
1.click on the top-right corner of the official website (app.hope.money)
2.tick the box to agree to the Terms of Service
3.select wallet
Once the preparation work mentioned above is completed, you can begin to experience the interaction and yield farming of HopeLend.
There are two sections related to interaction in HopeLend:
The "Overview" section displays the user's post-operation status, including details of supplies and borrows, loan position status, and rewards, etc.
The "Market" section displays all the tokens supported for supplies and borrows, as well as overall data information.
Please note that the number of LT tokens mined per day is fixed within each week and determined based on voting. Therefore, it is advisable to participate early to achieve a higher yield because there are relatively fewer participants in the early stages.
Click on the "Supply" button and complete the supply by approving it.
If you want to view specific details about the supply and borrow, such as interest rates, collateral ratios, liquidation thresholds, earnings trends, etc., click on the "Details" button to access the relevant information. All the detailed data can be found on this page. Additionally, the Details page also includes corresponding interactive buttons for further actions.
After making a supply, all assets are automatically set to the collateral mode and can be manually disabled. When there is an existing loan, it is important to pay attention to the Health Factor. If disabling the collateral mode would result in a Health Factor below 1, it is not allowed to be disabled.
Click on the "Borrow" button on the Borrow page
Currently, Stable Rate borrows are not supported.
When there is no borrowing, click on the "Withdraw" button to redeem all supplied assets.
When there is a borrowing, it is necessary to have collateral to support the borrowed assets. Therefore, redemption is limited based on specific rules. It's important to monitor changes in the Health Factor to prevent liquidation.
Repaying, similar to supplying assets, can increase the Health Factor and reduce the risk of liquidation.
On the Overview page, you can view the rewards of supplies and borrows separately, as well as the total rewards. You also have the option to claim all the rewards.
If the Rewards display shows 0, it means that there are no yield rewards available for that particular asset.
The total rewards can also be viewed in the "My portfolio" section, where you can see the rewards from all projects within the HOPE ecosystem.
Tips：
Supply: Whether it is WETH or ETH, the data displayed in the "My Supplies" section will show as ETH.
Borrow: Whether it is WETH or ETH, the data displayed in the "My Borrows" section will show as ETH. However, if you have actually borrowed WETH, the WETH tokens will be received in your wallet.
Withdraw and Repay functions work similarly, allowing you to freely choose whether to use ETH or WETH for the transactions.
Lock LT to obtain veLT, and you can boost your yield.
The High-Efficiency mode (E-Mode) enables borrowers to extract maximum borrowing capacity from their collateral when the prices of the supplied and borrowed assets are correlated, particularly when both are derivatives of the same underlying asset (e.g., stablecoins pegged to the US dollar). With E-Mode, new use cases such as high-leverage forex trading, efficient yield farming (e.g., depositing ETH collateral to borrow ETH), and diversified risk management can be achieved.
In E-Mode, if the collateral/loan assets belong to the same category, the loan capacity of the collateral will be significantly increased.
However, currently, there is no asset in E-Mode yet.
About Hope.money
Website: https://hope.money/
Twitter: https://twitter.com/hope_money_
Discord：https://discord.com/invite/hopemoneyofficial
Telegram：https://t.me/hopemoneyofficial