<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/0d6ee986-81b4-4920-8b13-c4f3c2b517bc/bot_profile.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/0d6ee986-81b4-4920-8b13-c4f3c2b517bc/bot_profile.png" width="40px" /> Welcome to BiFi! Let's learn how to use BiFi Lending. Depositing allows you to earn interest on your assets and to borrow against it. Borrowing allows you get a temporary loan while keeping your asset.
It also allows you to take a long or short position. For example, if you believe ETH will go up in the future, you can deposit ETH, borrow USDT, and buy more ETH with your USDT. If you believe ETH will go down in the future, you can deposit USDT, borrow ETH to sell, and repay the ETH when you buy it back at a lower price.
</aside>
In this page
Previous
Setting up MetaMask for Binance Smart Chain
Next
Click the MetaMask extension on your browser and set the network on top to Ethereum Mainnet.
Related Article:
Setting up MetaMask for Ethereum
<aside> ⚠️ BiFi supports both Ethereum and BSC. If you set BiFi to Ethereum Mainnet, but have your MetaMask set to another network, you will see an error. Make sure you are on the correct network.
</aside>
Total Deposit
The total value of all your deposited assets.
APY
Current annual interest rate for your deposits. This changes real-time based on the market conditions.
Earnings
The current total value of receivable accrued interests on your deposits.
Total Borrow
The total value of all your borrowed assets.
APY
Current annual interest rate for your borrows. This changes real-time based on the market conditions.
Interest
The current total value of payable accrued interests on your borrows
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d9c4d086-e682-4174-bdf1-b418aa13fb47/bot_profile.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d9c4d086-e682-4174-bdf1-b418aa13fb47/bot_profile.png" width="40px" /> Interests accrue in the asset you have deposited or borrowed. If you deposited ETH, you will earn interests in ETH. You can withdraw your deposit with interests or repay your borrows with interests at any time.
</aside>
Depositable Assets
Borrowable Assets
Coin
Assets currently available for depositing on BiFi.
APY
Annual interest rate for depositing an asset, as well as the expected returns from BiFi Rewards.
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/04fab9a9-a8ac-45b7-a7b7-46055b486407/bot_profile.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/04fab9a9-a8ac-45b7-a7b7-46055b486407/bot_profile.png" width="40px" /> ETH Deposit APY= 2.04% + 12.28% = +14.32%
</aside>
Depositable Amount
Assets currently available for depositing, based on your wallet.
Coin
Assets currently available for borrowing on BiFi.
APY
Annual interest rate for borrowing an asset, as well as the expected returns from BiFi Rewards.
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/04fab9a9-a8ac-45b7-a7b7-46055b486407/bot_profile.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/04fab9a9-a8ac-45b7-a7b7-46055b486407/bot_profile.png" width="40px" /> ETH Borrow APY = -9.03% + 12.28% = +3.25%
</aside>
Borrowable Amount
Assets currently available for borrowing, based on your deposits as collateral.
