If you already have an open position on a protocol, you can top it up at any time by depositing more of the same stablecoin. The new funds are added to the capital already allocated and immediately start earning a yield along with the rest of the position, based on the protocol's current APY.
Before you start
- Make sure you have the same stablecoin as the position (USDC, USDT or EURC) in your DeFi Wallet's available balance. If you don't have any, the app will let you buy some: see Adding USDC and EURC to the DeFi Wallet. As USDT isn't supported directly by Young Platform, you'll need to swap it from another cryptocurrency already in your wallet or deposit it from an external wallet.
- A deposit is a blockchain transaction, so it involves a network fee.
- The protocol's minimum amount applies, shown below the figure you enter.
How to add capital to Lending
- On the DeFi Wallet page, in the Lending section, tap the position you want to add funds to. The detail page opens, showing the balance, capital allocated, yield and transactions.
- Tap Add funds, at the bottom right. If you don't have any stablecoins available, the Insufficient balance notice appears, with a button to buy some.
- Enter the amount you want to add, or use MAX or the quick percentages (10%, 20%, 50%, 75%). Below the figure, you'll see the minimum amount and your available balance.
- Tap Order preview and check: cryptocurrency, network, protocol, Average APY, amount, network fees and destination (the protocol's vault).
- Tap Confirm order and authorise with Face ID or your fingerprint.
On the position page, the capital allocated is updated and the deposit appears in the transaction list.