Where and How to Lend Solana Name Service (FIDA)

Introduction

Lending Solana Name Service can be a great option for those who want to hold FIDA 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 Solana Name Service (FIDA) Tokens

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

   Platform	Coin	Price
   Kraken	Solana Name Service (FIDA)	0.25
   Binance	Solana Name Service (FIDA)	0.25
   Coinbase	Solana Name Service (FIDA)	0.25
   Bitmart	Solana Name Service (FIDA)	0.25
   MEXC Global	Solana Name Service (FIDA)	0.25
   Bitget	Solana Name Service (FIDA)	0.25

   See all 14 prices

2. 2. Choose a Solana Name Service Lender

   Once you have FIDA, you’ll need to choose a Solana Name Service lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Kucoin	Solana Name Service (FIDA)	Up to 0.5 APY

3. 3. Lend Your Solana Name Service

   Once you’ve chosen a platform to lending your Solana Name Service, transfer your Solana Name Service 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.