05. Lend & Borrow
Last updated
Last updated
Depositing your funds on lending protocols and using borrow option can is easy and cheap method to increase your transactions volume for possible airdrop rewards.
Let's see how to make a deposit on lending protocol.
Using OmniBTC not only increases your chances of earning an airdrop on the zkSync network but also allows you to accumulate points. These points can qualify you for an airdrop on the OmniBTC platform itself. On OmniBTC, points are awarded for supplying assets. The longer your funds are supplied to OmniLending, the more favorable the points multiplier becomes. Similarly, this principle applies to borrowing as well, where the duration of the loan affects the points earned.
Lending on OmniBTC steps:
Choose 'Supply', pick your asset and amount, confirm in wallet. Your assets will be lent to OmniLending.
Click 'Borrow', select asset and amount, confirm. This borrows assets from OmniLending.
Regularly check your lending and borrowing for interest and repayments.
Select 'Repay', choose asset and amount, confirm. Repay assets and interest.
Manage or withdraw lending similar to 'Repay' steps.
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