Introduction
Lending Ethereum Name Service can be a great option for those who want to hold ENS 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 Ethereum Name Service (ENS) Tokens
In order to lend Ethereum Name Service, you need to have it. To obtain Ethereum Name Service, you’ll need to purchase it. You can choose from these popular exchanges.
2. Choose a Ethereum Name Service Lender
Once you have ENS, you’ll need to choose a Ethereum Name Service lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Kucoin Ethereum Name Service (ENS) Up to 0.5% APY Aave Ethereum Name Service (ENS) Up to 0.0174% APY 3. Lend Your Ethereum Name Service
Once you’ve chosen a platform to lending your Ethereum Name Service, transfer your Ethereum 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. 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
Ethereum Name Service (ENS) is currently priced at $1 with a 24-hour trading volume of $86.47M. The market cap of Ethereum Name Service stands at 590.30M, with $33.17M ENS in circulation. For those looking to buy or trade Ethereum Name Service, Kucoin offers avenues to do so securely and efficiently.
- Market cap
- $590.30M
- 24h Volume
- $86.47M
- Circulating supply
- $33.17M
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