How to Lend and Earn on Alpaca Finance with Frontier
Earn up to 6% APY by lending crypto assets into Alpaca finance on BSC.
Alpaca finance is a lending protocol that allows leveraged yield farming on the Binance Smart Chain. It connects LP borrowers to lenders by enabling lenders to earn safe and stable yields while offering borrowers under collateralized loans for leveraged yield farming positions to help multiply their farming principles and profits.
Yield farming is an investment strategy in DeFi that lets you lend or stake your cryptocurrency tokens to earn rewards. Using leverage, you can significantly increase your yield farming positions and subsequently accrue larger yields.
ibTokens are interest-bearing tokens used to keep track of funds deposited by users on Alpaca Finance's lending pools as well as interest earned. ibTokens are directly proportional to the stake a user has in the lending pool.
Using Frontier, you can stake your assets directly on Alpaca Finance platform and earn passive income. Read through to learn how you can stake or lend your assets on Alpaca Finance with Frontier.
Lending and Staking with Alpaca Finance on Frontier
Open your Frontier app => Create a new wallet or connect an existing wallet
Lend your tokens to get ibToken
Open your Frontier app => Click "DeFi" => Select “Alpaca Finance” => Click "Lend" => Select your preferred asset (in this case BNB)
Input the token amount => Click "Continue" => Review transaction details => Click "Confirm" => Your ibTokens will be transferred to your wallet
Stake your ibTokens to earn more yields
Open your Frontier and switch to Binance Smart Chain wallet => Click "DeFi" => Select "Alpaca Finance" => Click "Stake" => Select your asset ibTokens => Input ibToken amount => Click "Continue"
Review transaction details => Click "Approve ibTokens" => Review transaction details => Click "Confirm"
YES! you have successfully staked your ibTokens to earn more yield.
Frontier is a Crypto & DeFi, NFT wallet where you can send, store & invest in 4,000+ crypto assets. Earn passive income on your crypto by staking or suppling assets in DeFi apps and exploring web 3.0 from a single place.
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