Inverse Finance
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Depositing Assets
By depositing to Anchor, you make your asset available for borrowers to borrow if there is a borrow market open. Check the assets under "Borrow" to see which have a borrow market open.
If the asset you deposit is available for borrowing, you earn interest depending on how much the asset pool is utilised. The more utilised a pool is, the higher the interest rate earned by the lenders to the pool. You can also use your deposited assets as collateral to fund your own borrowing from the protocol. Additionally, you are rewarded with INV tokens for depositing certain assets (regardless of utilisation ratio or whether their borrow market is open or not)
- Earn interest on your deposits in the same toke that you deposited
- Get rewarded with INV tokens for depositing
- Use your deposits as collateral for borrowing
Depositing with Anchor
2) Connect your wallet using the button in the top right-hand corner of the exchange
3) In the 'Supply' table, click on the asset's name that you would like to deposit/supply. The table will expand to show you an 'enter quantity' box.
Note, you do not need to click the ‘Collateral’ button, and sign the associated transaction, unless you wish to enable your supplied assets as collateral for opening a credit line (borrowing from Anchor) in the future.
4) Enter the amount of asset that you would like to deposit, in two transactions using your wallet:
- 1.Approve: Each time a contract needs to move funds from your wallet they need an approval, so you will need to approve Anchor by signing a transaction in your wallet before any funds can be deposited. You can set a one-time allowance for maximum security, or an infinite allowance to save gas in future transactions. If set to infinite, further approvals won't be required if you deposit more of the same token unless you revoke the approval .
- 2.Supply: This transaction deposits your tokens in Anchor banking.
Congratulations, you are now lending on Anchor!
This transaction will mint and send your wallet an Anchor ‘an’ token. For example, if you deposit ETH, you will receive a minted anETH token to your wallet. This token is your proof of ownership for your deposited asset that is required to redeem your asset. DO NOT SEND IT TO ANYONE, OR YOU WILL UNABLE TO WITHDRAW YOUR DEPOSITED ASSET.
If you wait a few seconds to refresh the page, you should see confirmation of your supplied assets. In the screenshot below, 250 xSUSHI and 20,000 DOLA-3POOL LP has been deposited/supplied
Lido's Staked Ethereum (stETH)
Inverse Finance was the first protocol to allow Lido’s liquid staked Ethereum to be used as collateral to borrow assets.
stETH is a rebasing token representing Ethereum 2.0 staking; staking rewards are given every 24 hours via increasing the balance of stETH in your wallet. You still get these rewards while deposited in Anchor, so your deposited balance within Anchor will increase over time.
Anchor Rewards
To further incentivise depositing in Anchor, depositors are rewarded with INV tokens. Each asset has set monthly INV emission, which gets rewarded in real-time proportionally to the amount of the asset deposited. The current monthly emissions are:
ETH: 75 INV
WBTC: 75 INV
xSushi: 75 INV
YFI: 75 INV
FLOKI: 50 INV
DOLA-3pool: 600 INV
INV-DOLA SLP: 500 INV
Check the ‘Reward APY’ in the ‘Supply’ table to see how this translates to additional APY when depositing. The larger the amount of asset in USD deposited to a particular pool, the more thinly the INV rewards are spread out which lowers the 'Reward APY'.
Claiming Rewards
In order to receive the INV reward, you must claim it. This is done by using the ‘Claim’ button in the top right-hand corner of the Anchor Banking page (only shown once connected with a wallet)
You then select which pool(s) you want to claim INV rewards from. The more pools you select, the higher the gas required by the transaction so the more expensive it becomes, so take care with which assets you choose.
Last modified 3mo ago