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Providing USDC

At present, you can only provide/lend USDC for borrowing. Additional assets may be enabled in the future.

  1. Navigate to gloop's lending page.

  2. In the Lend subtab, enter how many USDC tokens you will lend. Here, you will also see your Lending APY and New Lent Value info.

  3. Click supply/lend and sign the transactions (one for token spending approval, and one for the deposit itself) that auto-populate in your wallet.

Once the transaction has been completed, you will have opened a lending position. You can see more details on your position and/or manage your position in the Positions tab.

Lent USDC Cannot Be Used as Collateral

One major difference between supplying GM tokens and providing USDC is that USDC tokens may not be used as collateral. Only GM tokens can be enabled as collateral to allow the user to borrow USDC against. This is partly why there is a higher APY offered for USDC provision.

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