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How to open a Lending position

By accessing the Lending section of the DeFi Wallet, you can allocate your stablecoins within an integrated lending protocol. The process is simple: through a smart contract, you make your liquidity available to users who offer specific guarantees to borrow it. You will thus earn a proportional reward over time.

What role Young Platform plays

Young Platform provides an access interface, but is not a counterparty to the transaction and does not establish or guarantee the reward, which is determined directly by the protocol and varies continuously. Before proceeding, consult the guide Lending and rewards in the DeFi Wallet and the Risk Disclosure.

Before you start

  • If you need stablecoins in the available balance of your DeFi Wallet and you don't have any, you can buy them: read the guide How to add USDC and EURC to the DeFi Wallet. As for USDT, since it is not directly supported by Young Platform, you will need to perform a swap from another cryptocurrency already in your wallet or deposit it from an external wallet.
  • Stablecoins already committed to another position do not count as available balance.
  • The deposit is a transaction on the blockchain: it involves a network fee, paid with the crypto set in Manage fees, and is final once confirmed.
  • Each protocol has a minimum deposit amount, indicated below the figure you enter.

Which cryptos you can deposit

Lending in the DeFi Wallet currently supports the following stablecoins: USDC (USD Coin, pegged to the dollar), EURC (EUR Coin, pegged to the euro) and USDT (USD Tether, pegged to the dollar). Not all protocols accept all of them: the supported ones are indicated in the card of the individual protocol and in its detail sheet, under the heading Cryptocurrency. Other cryptocurrencies in your wallet cannot be used for Lending. The offering is updated periodically: consult the DeFi Wallet page or the Young Platform blog to stay informed about the latest news.

Which protocols you can use

The available protocols appear in the Lending section of the wallet page, each with the accepted crypto and the average APY (average annual reward). Today you can choose between:

  • Aave, for USDC. It is the most used and long-standing lending protocol in DeFi: you deposit into a single large shared pool, with no expiry, and withdraw whenever you want if the pool has liquidity. Withdrawal is generally immediate; it may slow down during times of high demand.
  • Morpho, for USDC and EURC. A next-generation protocol with many separate markets instead of a single pool: a problem in one market does not infect the others. You deposit into a vault managed by a curator, a team that chooses the markets in which to use the funds; the curator's name is the one you see on the detail page. It is among the few protocols to support EURC, thus allowing a reward in euros without exposure to the euro/dollar exchange rate.
  • Maple, for USDC and USDT. Stablecoins are lent to verified companies and institutions, at a fixed rate and for short periods, after an assessment by professionals who also put their own capital into the pool. Rewards are generally higher, in exchange for credit risk and, in rare cases, longer withdrawal times (up to 30 days).

On the detail page of each protocol, you will find the Technical Sheet with its functioning, characteristics, advantages and specific risks. Other protocols will be progressively integrated.

Steps to deposit on Lending

  1. In the DeFi Wallet page, Lending section, tap the protocol you want to deposit into. The detail page opens with the average APY for the selected period (1 week, 1 month, 6 months, 1 year), details (type, protocol, network, cryptocurrency) and the technical sheet.
  2. Tap Deposit. If you do not have stablecoins available, the "Insufficient balance" warning appears with the button to buy them.
  3. Type the amount, or use MAX or the quick percentages (10%, 20%, 50%, 75%). Below the figure, you will see the minimum amount and the available balance.
  4. Tap Order Preview and check: cryptocurrency, network, protocol, average APY, amount, network fees and the destination (the protocol vault and its address).
  5. Tap Confirm Order and authorise with Face ID or fingerprint.

By tapping the position displayed in the Lending section of the DeFi Wallet, you can access its detail screen. Here you will find the total balance, the allocated capital, the rewards earned and the transaction history, as well as the operational buttons Add funds and Withdraw funds.

The DeFi Wallet is a non-custodial service and does not fall within the scope of regulated services under the MiCA Regulation for which Young Platform is authorised. Young Platform's CASP authorisation does not cover or guarantee in any way the DeFi Wallet and the third-party protocols accessed through this feature: the user independently manages their private keys and is solely responsible for the related operations and connected risks. Consult the DeFi Wallet Terms and Conditions for more information.