How to Lend Frax (FRAX): A Comprehensive Guide for Chinese Investors

Introduction

Lending Frax can be an excellent choice for individuals looking to hold FRAX while earning an attractive APY. The process may seem a bit overwhelming, particularly for first-time users. To simplify this experience, we have created this comprehensive guide tailored for you.

Step-by-Step Guide

1. Acquire Frax (FRAX) Tokens
To lend Frax, you must first possess it. To acquire Frax, you will need to buy it. You can select from these well-known exchanges that are popular in the Chinese market.
Platform Coin Price
Uphold Frax (FRAX) 1 APY
FMFW.io Frax (FRAX) 0.5 APY
Gate.io Frax (FRAX) 0.66 APY
View all 5 prices
2. Select a Frax lending platform
Once you have FRAX, you'll need to select a Frax lending platform to lend your tokens. You can explore several options available in the market here.
Platform Coin APY
Aave Frax (FRAX) Up to 4.5% APY
3. Lend Your Frax for attractive APY returns
After selecting a platform to lend your Frax, transfer your Frax into your wallet on the lending platform. Once the deposit is completed, it will begin to accrue APY. Some platforms offer daily interest payouts, while others may provide interest on a weekly or monthly basis.
4. Earn APY on Your Assets
Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding APY to maximize your earnings.