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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Repaying your loan on Silo Finance is essential for maintaining control over your borrowed assets and safeguarding your financial health. This guide walks you through the process of repaying your loan on silo Finance, step-by-step.
What you will find in this article:
What you need:
A connected wallet.
Deposited assets with an active loan on Silo Finance. For more information on depositing or borrowing, check out my previous article.
How to repay:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: click on the “Connect Wallet” button in the top-right corner and select your preferred wallet provider. Follow the prompts to connect.
3)Select your Silo deployment: use the drop-down menu in the top-right corner to choose the network or market you want to operate on.
4)Go to your position: navigate to the “Dashboard” section to view your open positions.
5)Click on “Repay”: locate the market where you have an outstanding loan and click the “Repay” button to access repayment options.
6)Enter the amount to repay:
Input the amount you wish to repay. You can also use the “Max Available” option to repay the maximum amount from your wallet.
💡Note: if your wallet balance is insufficient for full repayment, Silo will allow you to make a partial repayment.
7)Check Health Factor changes: review the repayment simulation to see how your Health Factor will change after the repayment. Ensure your Health Factor stays at a safe level to avoid liquidation risks.
8)Repay and confirm: once satisfied with the repayment amount, click on “Repay” and confirm the transaction in your wallet.
Conclusion:
You have successfully repaid your loan on Silo Finance! Properly managing your borrowings ensures a stable financial position. If you are ready to explore other Silo Finance features, like withdrawing assets or borrowing more, check out the previous articles for more details.
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.
Repaying your loan on Silo Finance is essential for maintaining control over your borrowed assets and safeguarding your financial health. This guide walks you through the process of repaying your loan on silo Finance, step-by-step.
What you will find in this article:
What you need:
A connected wallet.
Deposited assets with an active loan on Silo Finance. For more information on depositing or borrowing, check out my previous article.
How to repay:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: click on the “Connect Wallet” button in the top-right corner and select your preferred wallet provider. Follow the prompts to connect.
3)Select your Silo deployment: use the drop-down menu in the top-right corner to choose the network or market you want to operate on.
4)Go to your position: navigate to the “Dashboard” section to view your open positions.
5)Click on “Repay”: locate the market where you have an outstanding loan and click the “Repay” button to access repayment options.
6)Enter the amount to repay:
Input the amount you wish to repay. You can also use the “Max Available” option to repay the maximum amount from your wallet.
💡Note: if your wallet balance is insufficient for full repayment, Silo will allow you to make a partial repayment.
7)Check Health Factor changes: review the repayment simulation to see how your Health Factor will change after the repayment. Ensure your Health Factor stays at a safe level to avoid liquidation risks.
8)Repay and confirm: once satisfied with the repayment amount, click on “Repay” and confirm the transaction in your wallet.
Conclusion:
You have successfully repaid your loan on Silo Finance! Properly managing your borrowings ensures a stable financial position. If you are ready to explore other Silo Finance features, like withdrawing assets or borrowing more, check out the previous articles for more details.
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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