Where and How to Lend Sonic (prev. FTM) (S)

Introduction

Lending Sonic (prev. FTM) can be a great option for those who want to hold S but earn yield. The steps can be a little 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. Acquire Sonic (prev. FTM) (S) Tokens

   To be able to lend Sonic (prev. FTM), you need to have it. To get Sonic (prev. FTM), you’ll have to buy it. You can pick from these popular exchanges.

   Platform	Coin	Price
   Nexo	Sonic (prev. FTM) (S)	0.72
   Uphold	Sonic (prev. FTM) (S)	0.62
   OKX	Sonic (prev. FTM) (S)	0.7
   YouHodler	Sonic (prev. FTM) (S)	0.72
   Binance	Sonic (prev. FTM) (S)	0.72
   Bitget	Sonic (prev. FTM) (S)	0.72

   See all 37 prices

2. 2. Choose a Sonic (prev. FTM) Lender

   Once you have S, you’ll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   YouHodler	Sonic (prev. FTM) (S)	Up to 30 APY

3. 3. Lend Your Sonic (prev. FTM)

   Once you’ve chosen a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are 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. Try to make sure your lending platform pays compounding interest to maximise your returns.

What to be Aware of

Lending your crypto can be risky. Make sure 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.