How to Lend Tokens

Step by step guide on Lending tokens to Banker Joe

Trader Joe avatar
Written by Trader Joe
Updated over a week ago

Banker Joe is a permission-less lending protocol. You can deposit your tokens for other users to borrow. In return, you can earn interest on your tokens that you have deposited. Think of it as being similar to a bank, where your cash account balance can earn interest.

Banker Joe Markets

On the Lend page you will be represented with Deposits and Borrowed markets

  • The Left side will contain Lending Markets where you can deposit Tokens

    • You can Lend Tokens at any time

    • There is no charge when Lending Tokens

  • The right side will contain Borrow Markets where you can borrow Tokens

    • You can only Borrow Tokens once you have deposited some Tokens

    • It will cost you daily interest to borrow tokens

Below guide runs through Depositing and Withdrawing from Lending

Deposit Tokens and earn daily Interest

  1. Click on the Token you wish to deposit into

  2. This will bring up a more detailed page for the Token

  3. Enter the number of Tokens you wish to deposit

  4. Click Approve (if required)

  5. Click Deposit to deposit the tokens into the market

  6. Congratulations, you are now lending your Tokens to Banker Joe!

Redeem Your Deposited Tokens

You may withdraw your tokens at any time, provided you have repaid any outstanding borrowed tokens (If you have Borrowed).

  1. On the Lending page, click the Token you wish to withdraw

  2. On the Token Detail page that pops up, click Redeem

  3. Enter the amount you wish to Redeem

  4. Click Approve (if required)

  5. Click Confirm

My Portfolio Page

A collated view of your current Lending and Borrowing activity. This will give you a cumulative position of your rewards so you can see the total interest that has been accrued for your Portfolio.

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