Introduction
Lending Pencils Protocol can be a great option for those who want to hold DAPP 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. Obtain Pencils Protocol (DAPP) Tokens
In order to lend Pencils Protocol, you need to have it. To obtain Pencils Protocol, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Pencils Protocol Lender
Once you have DAPP, you'll need to choose a Pencils Protocol lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Kucoin Pencils Protocol (DAPP) Up to 300% APY 3. Lend Your Pencils Protocol
Once you've chosen a platform to lending your Pencils Protocol, transfer your Pencils Protocol 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. 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.
Latest Movements
Pencils Protocol (DAPP) is currently priced at $300 with a 24-hour trading volume of $26,784. For those looking to buy or trade Pencils Protocol, Kucoin offers avenues to do so securely and efficiently}
- 24h volume
- $26,784