Lending made simple!
The interest rate is defaulted to a "Decaying Rate", this makes the rate annualized. This is recommended.
Step 1: Choose "Create Pool"
Step 2: Select the collateral token you wish to accept from the dropdown menu
Step 3: Select the token you would like to lend from the dropdown menu
Regarding Step 6 - Once the borrower borrow, their interest rate is locked in to whatever they agreed upon at the time of transaction.
Step 8. Review the pool deployment details and deploy the pool
Step 9. Seed the pool with the tokens you wish to lend out by going to the My Pools tab and selecting you lend pool. Click add funds. NOTE: You can also do this by sending the tokens directly to the pool contract displayed once you create the pool in step 8
Step 10. Provide the loan agreement link to your borrowers or embed the link on your website. It will also show up under explore tab!
Optional: You can create private pools by adding specific addresses under the borrowers tab. Only these addresses will be able to borrow.
Congratulations, you have created a loan agreement, users can now borrow!
1. Navigate to https://vendor.finance/create-pool
2. Click "Connect Wallet"
3. Click the option you want to connect too.
4. Click the collateral drop down
5. Click the collateral you wish to accept
6. Click the lend token drop down
7. Click the lend token you wish to lend
9. Click the "Expiry Date & Time" field.
10. Choose the month and day you want the loan to expire
11. Choose the time you want the loan to expire
12. Toggle the interest rate to your liking, or enter a rate by typing in the field.
13. Click "Review Transaction"
14. Click "Deploy" after you confirm everything is correct in the transaction review