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Lending (ibTokens) + Vaults
A guide on how to lend assets (BSC ibTokens) on Alpaca Finance and deposit these assets into Autofarm vaults.
A guide on how to lend assets (BSC ibTokens) on Alpaca Finance and deposit these assets into Autofarm vaults.
1) First, go to Alpaca Finance on https://app.alpacafinance.org/ and make sure you have the assets you want to deposit in your wallet. Also make sure your wallet is connected by using the button on the top right.
Alpaca Finance Lending page
2) Choose the asset you want to lend, key in the amount, and click on "Lend"
Lend $BUSD
If it's your first time interacting with a certain Alpaca Vault, after clicking "Lend", you first have to approve the spending of the asset and afterward, you can approve the transaction.
3) After lending, the lent assets will be visible on the Alpaca platform. These are your so-called ibTokens, in this case, ibBUSD.
Lent $BUSD assets
4) Now head over to autofarm and connect your wallet. Select the farm "Alpaca" on the farm selector dropdown ("Filters" button) , the lent assets are now visible in the specific vault as can be seen in the image below.
Binance Smart Chain Alpaca vaults on Autofarm
5) Open the vault and key in the number of tokens you want to deposit in the vault, to select all available tokens, click "MAX".
Deposit ibBUSD
If it's your first time interacting with a certain Autofarm Vault, after clicking "Deposit", you first have to approve the spending of the asset and afterward, you can approve the transaction.
6) After depositing successfully, you should see your deposited tokens reflected under the Deposit section alongside details such as the USD value and the % relative to the total value locked in the vault, as seen below:
ibBUSD vault on Autofarm
Please note, if your ibTokens are inside the Autofarm vault, it is not possible to retrieve them at Alpaca. First, withdraw your tokens from the Autofarm vault in order to be able to get your tokens back.
For steps on how to remove your ibTokens from Autofarm vaults and retrieve them from Alpaca, see the following HOW-TO:
Last modified 2yr ago