How to Lend Optimism (OP) in Australia

Introduction

Lending Optimism can be a great option for those who want to hold OP 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 Optimism (OP) Tokens

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

   Platform	Coin	Cost
   Nexo	Optimism (OP)	0.32
   PrimeXBT	Optimism (OP)	0.32
   YouHodler	Optimism (OP)	0.32
   Binance	Optimism (OP)	0.32
   BTSE	Optimism (OP)	0.32
   OKX	Optimism (OP)	0.72

   See all 45 prices

2. 2. Choose a Optimism lender

   Once you have OP, you'll need to choose a Optimism lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   Aave	Optimism (OP)	Up to 0.07% p.a.
   Bitget	Optimism (OP)	Up to 1.2% p.a.
   CEX.io	Optimism (OP)	Up to 1.5% p.a.

   See all 9 lending rates

3. 3. Lend Your Optimism

   Once you've chosen a platform to lend your Optimism, transfer your Optimism 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.