➡️Loans
Learn more about how to making loans into a Flexible Term USD Vault.
Making a Loan
Making a loan into a Flexible Term USD Vault is a simple process. After you've been onboarded, the steps are as follows:
Connect your whitelisted wallet
Select the Flexible Term USD Vault
Click "Invest"
Input an amount you'd like to lend and click "Approve Spending Cap"
Approve the spending cap in your wallet
Confirm the amount and click "Invest"
USDC will be transferred from your wallet & you will receive vault tokens at the current exchange rate.
The transfer will show as "Pending Advance" until the Advance Processing Time lapses, after which time it will begin accruing interest.
Advance Processing Time
The Advance Processing Time is the number of business days before you will begin accruing interest.
Until the Advance Processing Time has lapsed, the advance amount will show as pending. Once the Advance Processing Time lapses, the principal amount will accrue interest every day.
The Flexible Term USD Vault has an Advance Processing Time of 0 business days.
Advance Cut-Off Time
The Advance Cut-Off Time is the time in UTC that loans must be made to be considered same day. For loans made before the cut-off time, they will be considered same day. For loans made after the cut-off of time, they will be considered to have been made the next business day.
For loans made on Non-Business Days (e.g. weekends and banking holidays), they will be considered to have been made on the next business day.
Tokens are always minted immediately for any loan, regardless of when they are made. The Advance Cut-Off time is used to calculate when the Advance Processing Time starts elapsing and thus when interest will begin accruing on your loan.
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