Solend is an interest-rate platform for lending, collateralizing and yield farming on Solana.
Using Solend you can earn interest on your stSOL deposits and use your stSOL to borrow against, or borrow other assets, using a high-speed, low-fee platform.
To get started, visit solend.fi/dashboard and connect your Solana wallet.
Supplying stSOL for yield
To get started earning a yield on your stSOL, visit solend.fi/dashboard and find the stSOL market as pictured below.
Press the market and wait for the pop-up to emerge.
In the 'Supply' section, choose the amount of SOL to supply and press 'Supply x SOL'. Approve the transaction using your Solana wallet to confirm.
And just like that you are lending out your stSOL for an added yield!
To withdraw, simply locate the stSOL market, navigate to the withdrawal section of the pop-up and choose the amount of stSOL to withdraw. Once you approve the transaction in your wallet, your stSOL will return to your connected wallet.
To get started with borrowing stSOL using Solend, visit solend.fi/dashboard and find the stSOL market.
In the pop-up, switch to the 'Borrow' section.
Input the amount of stSOL you wish to borrow, using the Utilization rate to determine the max amount you can borrow (pictured below).
Press 'Borrow x stSOL' once you have settled on an amount and confirm the transaction using your Solana wallet to finalise the transaction.
To withdraw (or repay your stSOL loan), simply switch to the 'Repay' tab, choose the amount of the stSOL loan you wish to repay and confirm the transaction using the Solend UI as well as your Solana wallet. Simple!
Lido and Solend
Using Solend you can use your staked SOL as collateral or lend it out for added yield. The current APY rates are as follows:
Supply APY: 49.43%
Borrow APY: 0.33%
The market comes with 100k LDO and 1x SLND in added monthly rewards.
Please note that these figures are correct at the time of writing but may fluctuate as the market develops.