Where and How to Lend Optimism (OP)

Introduction

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

   In order to lend Optimism, you need to have it. To obtain Optimism, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Optimism (OP)	2.2
   Bitpanda	Optimism (OP)	2.2
   Uphold	Optimism (OP)	1.69
   Kraken	Optimism (OP)	1.75
   OKX	Optimism (OP)	2.2
   YouHodler	Optimism (OP)	2.2

   See all 22 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 see some options here.

   Platform	Coin	Interest rate
   Bitget	Optimism (OP)	Up to 1.2 APY
   Kucoin	Optimism (OP)	Up to 0.5 APY
   Aave	Optimism (OP)	Up to 0.07 APY

   See all 5 lending rates

3. 3. Lend Your Optimism

   Once you’ve chosen a platform to lending your Optimism, transfer your Optimism 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.