Lending: Step-by-step guide
In this quick guide we’ll take you through the PembRock lending functionality step-by-step, giving you all the info you need to know to get stable returns.
How lenders benefit from PembRock Finance
There are two roles on PembRock Finance, lender and yield farmer. Farmers are able to leverage their current holdings by up to 3x to receive triple the rewards, while lenders provide the funds that make this possible. Consequently, they are rewarded — without taking on any of the risks of liquidation, they can gain regular returns which are auto-compounded.
PembRock’s lending functionality: step-by-step
If you haven't created a NEAR wallet and loaded it with crypto, see the NEAR Guide for how to do it in the easiest possible way: https://docs.near.org/docs/develop/basics/create-account
Once you have NEAR or other tokens in your wallet, they can be swapped for PEM, REF, or other tokens not listed on centralized exchanges through the NEAR DEXes Ref Finance, Spin or Tonic. Then, follow these few easy steps to start lending on PembRock Finance:
Step 1: Open the PembRock Finance app and connect your NEAR wallet by clicking on the Connect wallet button in the top right corner.
Step 2: Once you connect you’ll find yourself in the Portfolio Overview section; select the currency you wish to lend and press Lend. You can also do this in the Lend section of the PembRock app.
Step 3: You will be taken to the specific page of the token you wish to lend, and there you can enter the amount you wish to provide and confirm the transaction.
Step 4: Congratulations, your crypto is already working for you. You will be able to check your balance by clicking the Lend pools tab. What's more, early lenders can take a share in our fair launch rewards, which start being distributed on July 15 at 4pm (CET).
Please note: You can lend in more than one pool at a time. It simply depends on how many different types of currencies you choose to put in your NEAR wallet.
How to claim rewards
Go to your portfolio and click Lend pools
On the top right-hand side, you will see the amount of unlocked rewards on the platform.
Click Claim to approve the transaction.
Congratulations! Funds will appear in your NEAR wallet.
How to withdraw
Go to the Lend tab.
Next to your position(s), you will see a Withdraw button, click it to go to your position.
Select the amount you wish to withdraw, and then confirm the transaction.
Congratulations, you have withdrawn funds to your NEAR wallet!
To learn more about leveraged yield farming and how you can profit, visit our School of PembRock.
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