Lynn Brooke40 Acres - Overview
40 Acres introduces a new era of utility for veNFT holders, going beyond voting to unlock liquidity, automation, and passive income. Designed for users of veAERO and veVELO, this protocol enhances the way you interact with your locked assets - allowing you to borrow against them, automate compounding of rewards, and earn through lending. 🔍 What you will find in this article:What you need.Borrowing with veNFTs (without liquidation risk).How auto-compounding works.Earning yield through USDC le...
Lynn BrookeGetting Started with Rabby Wallet Mobile App
After familiarizing yourself with installing and starting the Rabby browser extension and the Rabby Desktop app, it's time to explore the Rabby Wallet's mobile application. Expanding the Rabby Wallet ecosystem to mobile devices enhances accessibility and convenience for managing digital assets on the go. This guide will specifically focus on importing a MetaMask address and adding a watch-only address. Quick Safety Tip for Mobile Wallets: When using mobile wallets, consider keeping ...
Lynn BrookeBridging xVELO to VELO: A Simple Guide
With Velodrome expanding as the Superchain hub, it has introduced xVELO as the token for non-Optimims networks like Ink, Soneium, and Mode. However, if you are looking to convert xVELO into VELO on Optimism, this guide will walk you thorugh two methods to get it done efficiently. 📌 What you will find in this article:How to swap xVELO to VELO using Velodrome’s native swap feature.How to use vFAT Tools as an alternative method.Useful tips for a smooth conversion process.✅ What you need:A walle...
✨Lynn Brooke exploring DeFi's world✨ Here I share simple how-to's from my experiences, easing the way for fellow DeFi explorers
Lynn Brooke40 Acres - Overview
40 Acres introduces a new era of utility for veNFT holders, going beyond voting to unlock liquidity, automation, and passive income. Designed for users of veAERO and veVELO, this protocol enhances the way you interact with your locked assets - allowing you to borrow against them, automate compounding of rewards, and earn through lending. 🔍 What you will find in this article:What you need.Borrowing with veNFTs (without liquidation risk).How auto-compounding works.Earning yield through USDC le...
Lynn BrookeGetting Started with Rabby Wallet Mobile App
After familiarizing yourself with installing and starting the Rabby browser extension and the Rabby Desktop app, it's time to explore the Rabby Wallet's mobile application. Expanding the Rabby Wallet ecosystem to mobile devices enhances accessibility and convenience for managing digital assets on the go. This guide will specifically focus on importing a MetaMask address and adding a watch-only address. Quick Safety Tip for Mobile Wallets: When using mobile wallets, consider keeping ...
Lynn BrookeBridging xVELO to VELO: A Simple Guide
With Velodrome expanding as the Superchain hub, it has introduced xVELO as the token for non-Optimims networks like Ink, Soneium, and Mode. However, if you are looking to convert xVELO into VELO on Optimism, this guide will walk you thorugh two methods to get it done efficiently. 📌 What you will find in this article:How to swap xVELO to VELO using Velodrome’s native swap feature.How to use vFAT Tools as an alternative method.Useful tips for a smooth conversion process.✅ What you need:A walle...
✨Lynn Brooke exploring DeFi's world✨ Here I share simple how-to's from my experiences, easing the way for fellow DeFi explorers
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Borrowing on Silo Finance allows you to take out a loan from a lending market using your deposited assets as collateral. You must first be a lender before borrowing, as you need collateral to borrow against. This guide will walk you through how to borrow on Silo Finance.
What you will find in this article:
What do you need:
A connected wallet.
Deposited assets on Silo Finance (if you haven’t deposited yet, check out my article on how to do so).
How to Borrow:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: in the top-right corner, click “Connect Wallet” and select your wallet provider.
3)Select your Silo deployment: use the drop-down menu in the top-right corner to choose the network of market you wish to operate on.
4)Access your Market:
Option A: go to “Markets” and select the market you deposited into. this will take you to the market page where you can manage your position (Deposit - Borrow - Withdraw - Repay).
Option B: from the top navigation bar. click “Dashboard”. Here, you will find your open positions with management options.
5)Borrow assets:
Click the “Borrow” option for the market you wish to borrow from.
Select the asset you wish to borrow from the drop-down menu.
Enter the amount you want to borrow or click “MAX” to borrow the full amount available.
You will see borrow information like the amount available to borrow (based on the Max LTV of the market) and your health factor based on the amount borrowed.
💡Max LTV: this represents the maximum amount you can borrow against your collateral and it is expressed as a percentage. For example, if the Max LTV is 80%, you can borrow up to 80% of your collateral’s value.
💡Health Factor: a ratio that indicates how close a position is to being liquidated. A Health Factor of 0% means the position may be signaled for liquidation, so the closer it is to 0%, the higher the risk of liquidation.
6)Confirm borrowing: if you are happy with the amount and the health factor, click “Borrow” and confirm the transaction in your wallet.
7)Congratulations, you have successfully borrowed from Silo! Your borrowed assets will appear in your wallet.
8)Review information: an updated information box about your deposit with the new borrow details will be shown on the right side of the dashboard.
By following these steps you can successfully borrow assets on Silo Finance. After borrowing, make sure to monitor your health factor to ensure your position remains safe from liquidation.
Lynn Brooke
This article serves educational purposes and is not financial advice. We encourage you to do your own research and be responsible for your actions in the financial space.
Borrowing on Silo Finance allows you to take out a loan from a lending market using your deposited assets as collateral. You must first be a lender before borrowing, as you need collateral to borrow against. This guide will walk you through how to borrow on Silo Finance.
What you will find in this article:
What do you need:
A connected wallet.
Deposited assets on Silo Finance (if you haven’t deposited yet, check out my article on how to do so).
How to Borrow:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: in the top-right corner, click “Connect Wallet” and select your wallet provider.
3)Select your Silo deployment: use the drop-down menu in the top-right corner to choose the network of market you wish to operate on.
4)Access your Market:
Option A: go to “Markets” and select the market you deposited into. this will take you to the market page where you can manage your position (Deposit - Borrow - Withdraw - Repay).
Option B: from the top navigation bar. click “Dashboard”. Here, you will find your open positions with management options.
5)Borrow assets:
Click the “Borrow” option for the market you wish to borrow from.
Select the asset you wish to borrow from the drop-down menu.
Enter the amount you want to borrow or click “MAX” to borrow the full amount available.
You will see borrow information like the amount available to borrow (based on the Max LTV of the market) and your health factor based on the amount borrowed.
💡Max LTV: this represents the maximum amount you can borrow against your collateral and it is expressed as a percentage. For example, if the Max LTV is 80%, you can borrow up to 80% of your collateral’s value.
💡Health Factor: a ratio that indicates how close a position is to being liquidated. A Health Factor of 0% means the position may be signaled for liquidation, so the closer it is to 0%, the higher the risk of liquidation.
6)Confirm borrowing: if you are happy with the amount and the health factor, click “Borrow” and confirm the transaction in your wallet.
7)Congratulations, you have successfully borrowed from Silo! Your borrowed assets will appear in your wallet.
8)Review information: an updated information box about your deposit with the new borrow details will be shown on the right side of the dashboard.
By following these steps you can successfully borrow assets on Silo Finance. After borrowing, make sure to monitor your health factor to ensure your position remains safe from liquidation.
Lynn Brooke
This article serves educational purposes and is not financial advice. We encourage you to do your own research and be responsible for your actions in the financial space.
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