📚 How-To: Lend On Wagon Network Supply Chain Financing 🚀
In this post, we’ll walk you through the step-by-step process of becoming a lender and earning passive income through wagon network decentralized supply chain financing platform. Let’s dive in!
Step 1: Access the Wagon Network Lending Platform
Navigate to the Wagon Network website at https://app.wagon.network/ and locate the Lending section. Click on “Lend ” to access the lending platform.
Step 2: Connect Your Wallet
Ensure your preferred wallet, such as MetaMask or Trust Wallet, is connected to the Binance Smart Chain (BSC) network. This will enable you to interact seamlessly with the lending platform.
Step 3: Select the Pool to Lend
Choose the pool you wish to lend from the list of supported supply chain projects. Wagon Network currently supports Indonesia’s local stablecoins IDRT and expand to other various stable coin or token in future. After selecting the pool, you will be moved to the detail page.
Step 4: Open lend to pool dialog
On the top right, users can see the stable coin and $WAG balance that are locked in the selected pool. Press “Lend To Pool” button to open the pool dialog.
Step 5: Enter the Lending Amount
Specify the amount of the selected asset you want to lend to the pool. It will automatically give you the amount of $WAG that are needed to lend.
Note: Please reassured to have enough balance of the selected stable coin and $WAG.
- Buy $WAG from Uniswap on Ethereum network. Follow this post.
- Bridge $WAG from Ethereum network to BSC network. Follow this post.
- Buy stable coin from DEX on BSC Network. Ex: Uniswap, PancakeSwap.
Step 6: Review and Confirm
Review the lending terms, including the interest rate and duration of the lending period. Once you’re satisfied with the terms, click on the “Lend To Pool” button to confirm the transaction.
Step 7: Approve the Transactions
Follow the prompts provided by your connected wallet to approves the lending transaction. You need to confirm 3 different transactions, which are:
- stable coin approval.
- $WAG token approval.
- Lend to pool transactions.
Step 8: Lending Success
Once the transaction is confirmed, you’ll receive NFT as much as your stable coin as your receipt. Your lending statistic will be updated, showing your balance of locked stable coin and $WAG.
Step 9: Monitor Your Lending Activity
Once the borrower withdraw their loan, lender can monitor the pool activity. You can monitor your lending activity and track your earnings directly from the lending platform. Lender can see the claimable status of for each term interest, ex: “Unclaimable”, “Claimable”, “Claimed”.
Step 8: Withdraw Your Earnings
Users can claim the claimable interest, to optimize your gas fee, lenders can claim multiple term, or wait until mature date to claim all the interest and principal. Simply press the claim button and open the claim dialog.
Step 9: Confirm Claim Transaction
Follow the prompts provided by your connected wallet to approves the claiming transaction.
Congratulations! You’ve successfully lent your stablecoins and tokens to the Wagon Network Lending Pool and are now earning passive income through decentralized supply chain finance. Keep exploring the opportunities offered by Wagon Network, and stay tuned for new features and enhancements to our lending platform.
Connect with Wagon Network:
- Website: https://wagon.network/
- Telegram: https://t.me/wagon_network
- Twitter: https://twitter.com/WagonNetwork
- Instagram: https://www.instagram.com/wagonnetwork/
- Medium: https://wagonnetwork.medium.com/
Start lending and earning with Wagon Network today! 🌐🚀
