Start Here (Desktop)
Last updated
Last updated
In order to use Solend, you will need a Solana wallet. We recommend Phantom.
Actions on Solend require SOL as gas. You can buy SOL and transfer it to your account from exchanges such as coinbase or binance. After that, you're all set to make your first deposit!
Choose an asset to deposit. Major ones like USDC, ETH, BTC or SOL are a good start.
Select an asset to deposit. You will be receiving a yield (Supply APY) on the asset you deposited.
Enter amount to deposit.
Approve the transaction in your wallet.
Once you've deposited funds, you can use them as collateral for a loan.
Specify how much you want to borrow.
Approve the transaction in your wallet again.
The account section on the right shows important information about your account's standing. Use this information to avoid costly liquidations.
Let's go through each section from top to bottom.
Borrow utilization represents how much of your borrow limit is currently being borrowed. At 100%, you're no longer able to borrow and could be in danger of being liquidated. Keep this number low by supplying more collateral or repaying your borrow balance.
Net value is the value of your account, calculated as supplies - borrows.
Supply balance is the total value of the deposits. In the utilization bar visualization, this is represented by the full length of the bar.
Borrow balance is the total value of borrows. In the visualization, this is represented by the green bar. This bar turns red when your borrow balance grows past your borrow limit.
Borrow limit is the maximum value of assets you can borrow. This is represented by the white bar. This limit is calculated based on your deposits and their loan-to-value ratios. Your borrowed balance can surpass this limit if the value of your borrowed assets drop in relation to your supplied asset.
Liquidation threshold is the maximum value of your borrow balance before your account will be eligible for liquidation. This is a costly event and should be avoided by lowering your borrow utilization. This limit is calculated based on your deposits and their respective liquidation ratio.
You can repay or withdraw by clicking on the table in your account section.
Select an asset in the "Assets borrowed" table pictured above.
Enter and confirm an amount to repay in the resulting modal.
Select an asset in the "Assets borrowed" table and enter a value
Enter and confirm an amount to withdraw in the resulting modal.
In order to use your Ledger device with Solend (and other Solana dapps), you must enable blind signing.
Connect and unlock your Ledger device.
Open the Solana app.
Press the right button to navigate to Settings. Then press both buttons to validate.
In the Blind signing settings, select Yes by pressing both buttons.
