How to Lend Aave AMM DAI (AAMMDAI) in Australia

Introduction

Lending Aave AMM DAI can be a great option for those who want to hold AAMMDAI while earning yield. The steps may seem a bit daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. 1. Obtain Aave AMM DAI (AAMMDAI) Tokens

   To lend Aave AMM DAI, you need to possess it. To acquire Aave AMM DAI, you'll need to buy it. You can select from these popular exchanges.

2. 2. Choose a Aave AMM DAI lender

   Once you have AAMMDAI, you'll need to choose a Aave AMM DAI lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   Aave	Aave AMM DAI (AAMMDAI)	Up to 0.07% p.a.

3. 3. Lend Your Aave AMM DAI

   Once you've chosen a platform to lend your Aave AMM DAI, transfer your Aave AMM DAI into your wallet on the lending platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Ensure your lending platform pays compounding interest to maximise your returns.

What to Be Aware Of

Lending your crypto can be risky. Ensure you do your research before depositing your crypto. Don't lend more than you're willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.