Where and How to Lend Pencils Protocol (DAPP)

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. 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. 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. 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. 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.