Supplying
Last updated
Last updated
Hover provides a platform to allow your idle assets accrue yield and work for you.
Users can select any asset supported by Hover and deposit it directly into the protocol. These supplied assets are then lent out to other users, known as borrowers. The interest paid by borrowers generates yield for the suppliers.
Hover’s protocol operates on an algorithmic basis, meaning only the original depositor and collateralized borrowers can withdraw funds. Assets can be withdrawn anytime, as long as they are not being used as collateral for an active loan.
Under Overview, find the Supply tab on the right side of the window.
Select the asset you would like to deposit using the drop-down list under Select token.
Enter your desired amount or hit Max to supply the full amount of that asset in your connected wallet. Alternatively, you may use the slider below to deposit a percentage of the amount in your connected wallet.
(Note: When depositing KAVA, the amount available to deposit is 10 less than your total amount. This is to set aside at least 10 KAVA in your wallet to ensure you are able to cover transaction fees.)
Click Supply. The deposit is recorded and begins accruing interest once confirmed.
Your wallet will receive hTokens that represent your supplied asset, in exchange for your deposit. These hTokens are valued at 0.020000 upon minting and will increase in accordance with the interest rate.
Under Overview, find the asset you would like to withdraw under Your Assets.
Click on the yellow Withdraw button on the right.
Enter the amount you wish to withdraw by using the slider bar to enter a percentage or by typing the exact number of tokens.
Click Withdraw and confirm in your wallet to complete the transaction.
Assets may only be withdrawn if they are not actively being used as collateral for a loan that would be liquidated if they were to be withdrawn. Additionally, hTokens are required to be in your wallet in order to withdraw the associated asset.
