Learn how to navigate the Liqwid app like a pro with this tutorial.

Introduction to Liqwid

Liqwid is a non-custodial liquidity protocol for lending and borrowing Cardano native assets. The Liqwid protocol is composed of decentralized, audited smart contracts built on Cardano using Plutus, the smart contract programming language of the Cardano blockchain. The smart contracts enable users to deposit liquidity in a money market, earn interest and open overcollateralized loans directly with no intermediaries in a permissionless and secure approach. The ADA deposited in Liqwid’s Cardano money market is delegated to multiple Cardano stake pool operators and ADA suppliers (qADA holders) earn full staking rewards on the ADA deposited but not borrowed in the market.

This user guide describes how to successfully complete market actions in the app and explains how to safely navigate the app as a borrower. For more information, questions or to request help navigating the app please join the Liqwid Community Discord server. Liqwid Community Managers and Liqwid Labs developers are here to help you and answer any questions related to the app.

SUPPLY (LEND)

How to supply assets (mint qTokens) and earn interest

Once you have your wallet connected to the Liqwid app interface with wallet collateral set, you’re ready to lend ADA, DJED and other Cardano native assets. Earning interest using Liqwid as a lender is as simple as supplying assets to a Liqwid Market and minting qTokens, an interest bearing token that represents your deposit amount and accrued interest. As borrowers repay accrued interest in that market the qToken to underlying asset exchange rate will increase, representing the repaid interest. This is the increased amount of underlying assets qToken holders earn.

• Cardano transaction costs must be paid using ADA and your wallet’s collateral must be set to interact with the app interface. You will need to ensure enough ADA remains in your wallet after a market action to pay for the transaction fees set by the Cardano network.

To supply assets follow these steps!

1. Visit the app at app.liqwid.finance, connect your wallet, and navigate to the “Assets to supply” section.
2. Select an asset to supply and click the "Supply" button.

*Users can view the current supply APY representing the interest suppliers (qToken holders) are currently earning annualized.

1. Enter the amount you want to supply in the "Amount" input field at the top of the modal. You can either enter a specific amount or select the ‘MAX’ button to supply your entire wallet’s balance.

1. Once you have entered the supply amount and reviewed the “Transaction overview” section click the “Supply” button at the bottom of the modal and approve the transaction in your wallet.

*You can review the current qADA exchange rate and supply APY to confirm how much qADA will be minted in your wallet and the current APY you will begin earning.

Once you successfully complete the supply action a transaction overview will appear displaying your completed action. You can click the “Review transaction details” button to view the transaction hash and details on Cardano block explorer cexplorer.io and you can confirm your minted qADA by viewing the token list section in your wallet. You can also access all your historical transactions under the “Transaction history” page within Liqwid app.

You can view your supplied assets, the current APY, and the amount of supplied assets locked as collateral in the “Your supplies” section.