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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In this article, we will guide you through the process of withdrawing your assets from Silo Finance. Whether you are moving your funds or adjusting your position, this tutorial will ensure you understand the key steps. Remember, if you have borrowed against your collateral, withdrawing may affect your Health Factor so it’s important to manage this carefully.
What you will find in this article:
What you need:
A connected wallet.
Deposit assets on the protocol (click here to know how to do it).
Awareness of your current Health Factor if borrowing.
Withdrawing on Silo Finance:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: click the “Connect Wallet” button in the top-right corner and select your preferred wallet provider. Follow the prompts to connect your wallet.
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)Find your position: click on “Dashboard” at the top of the dApp. Here, you can view all your open positions.
5)Click “Withdraw”: locate the market from which you wish to withdraw and click “Withdraw”.
6)Enter the withdrawal amount: specify the amount you wish to withdraw or click the “Max” button to withdraw your entire deposit.
If you have an open borrow position against your collateral, keep in mind that withdrawing can negatively affect your Health Factor. The UI will simulate the impact of your Health Factor to help you avoid liquidation risks.
7)Complete the transaction: click the “Withdraw” button and sign the transaction in your wallet.
8)Success! You have successfully withdrawn your funds from Silo Finance.
Conclusion:
Withdrawing assets from Silo Finance is a straightforward process, but it is important to monitor your Health Factor to avoid potential liquidation if you are borrowing against your collateral. Once you have withdrawn your funds, you are free to reinvest or adjust your strategy as needed.
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.
In this article, we will guide you through the process of withdrawing your assets from Silo Finance. Whether you are moving your funds or adjusting your position, this tutorial will ensure you understand the key steps. Remember, if you have borrowed against your collateral, withdrawing may affect your Health Factor so it’s important to manage this carefully.
What you will find in this article:
What you need:
A connected wallet.
Deposit assets on the protocol (click here to know how to do it).
Awareness of your current Health Factor if borrowing.
Withdrawing on Silo Finance:
1)Access the dApp: go to app.silo.finance .
2)Connect your wallet: click the “Connect Wallet” button in the top-right corner and select your preferred wallet provider. Follow the prompts to connect your wallet.
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)Find your position: click on “Dashboard” at the top of the dApp. Here, you can view all your open positions.
5)Click “Withdraw”: locate the market from which you wish to withdraw and click “Withdraw”.
6)Enter the withdrawal amount: specify the amount you wish to withdraw or click the “Max” button to withdraw your entire deposit.
If you have an open borrow position against your collateral, keep in mind that withdrawing can negatively affect your Health Factor. The UI will simulate the impact of your Health Factor to help you avoid liquidation risks.
7)Complete the transaction: click the “Withdraw” button and sign the transaction in your wallet.
8)Success! You have successfully withdrawn your funds from Silo Finance.
Conclusion:
Withdrawing assets from Silo Finance is a straightforward process, but it is important to monitor your Health Factor to avoid potential liquidation if you are borrowing against your collateral. Once you have withdrawn your funds, you are free to reinvest or adjust your strategy as needed.
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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