Introducing Bonfida Pool
New Pool in Larix Lending Launchpad
Larix is about to kick off the Lending launchpad! The first lending Pool is featuring Bonfida, which will go live on https://projectlarix.com/ soon.
What is Lending Launchpad?
The core of Lending Launchpad is an isolated pool, offering isolated asset pools for SPL native tokens. Up until now, Larix has only offered cross-collateral pools for supported mainstream assets. The motivation behind this pertains to security as Larix takes security extremely seriously. As all assets can be borrowed against each other in the cross-collateral pool, supporting new assets will be a long and complex process. Therefore, with a lending launchpad, Larix is able to list more tokens that can’t meet the requirements for the cross-collateral pool. You could say, the lending launchpad is a pathway for all SPL native tokens to participate in the lending market.
To learn more, read our Lending Launchpad introduction at:
The Bonfida pool has 3 assets: $FIDA, $SOL, and $USDC. By Supplying those tokens, you can earn dynamic APY interests. After supplying and earning APY on assets, you can then borrow against those assets, as the supplied assets are used as collateral for borrowing.
Borrowers who use the Bonfida isolated pool will be rewarded with $LARIX tokens. These incentives will run for 3 days.
If you are interested in trying out this exciting new function, here’s how to proceed.
Step 1: Go to https://projectlarix.com/ , Click ‘Connect’ in the upper-right corner.
2. Select the wallet to use, we will use slope wallet as an example.
3. Click ‘supply’ on the right side, and select which token you want to supply.
4. To borrow assets, you need to enable the ‘collateral’ button first.
5. Click ‘Borrow’ on the right side, and select which token to borrow.
Larix doesn’t charge any borrow fee, which means that you do not need to pay borrowing fees every time you borrow, which is very beneficial to loop yield farming operations.
More isolated asset pools will be launched very soon! Stay tuned!