Creating a Lending Pool
Connect Your Smart Wallet: To start lending, connect your Coinbase Smart Wallet to the LENDBIT platform. This wallet integration ensures seamless transactions and fund management.
Set Up Your Basename: Ensure that your Basename is created and linked to your account. Your Basename will serve as your unique identifier, simplifying the process of managing pools and interacting with borrowers.
Pool Setup: In the marketplace, navigate to the "Create Lending Pool" section. Here, you’ll provide key details such as:
Total Pool Size: The maximum amount you want to lend.
Interest Rate: The rate at which borrowers will repay their loans.
Pool Duration: Set the time frame for the pool validity.
Borrower Allocation: You can allocate a percentage of the pool to different borrowers if multiple borrowers are accessing the pool.
Last updated