With a DAI lending interest rate of 9.25% APR and a USDC lending interest rate of 9% APR, there's a great opportunity to put your stablecoins to work in a non-custodial manner.
(Note: you will only make 9.25%/9% APR if you're funds are utilized, otherwise they will make the Compound Finance idle rate).
However with every platform there are tradeoffs. Since Atomic Loans deals with native Bitcoin, there's a need for liveliness. This tutorial goes over how to setup a lender agent and shouldn't take more than 10 minutes!
- Go to https://atomic.loans/app
2. Choose lend USDC
3. Choose the amount you want to lend
4. And how long you want to lend for
6. Deploy funds for lending
This is needed to get access to free heroku credits.
You will not be billed for using Atomic Loans on Heroku. Please contact us if you receive a bill from Heroku and you will be reimbursed.
Once you've done this, you can click the purple "Deploy to Heroku" button
7. Deploy the app on heroku
8. Then click the Deploy app button
Note: This will take ~90 seconds to deploy.
9. Click on view
10. Welcome to your Atomic Loans Lending Autopilot Agent. Click "Backup Secret Phrase"
11. Connect MetaMask
12. Sign with MetaMask
13. Copy Seed Phrase. Don't show this to anyone and back it up securely. Anyone with this phrase can steal all your lending funds.
14. Now it's time to Enter your Heroku API Key so you can update your Agent. Click on the https://dashboard.heroku.com/account link
15. Scroll to the very bottom
16. At the bottom of the page, click on "Reveal"
17. Copy the API Key
18. Paste the API Key into the text field. Then click submit
19. Sign on MetaMask to update the API Key on the agent
20. The setup is complete. Go ahead and navigate back to the Atomic Loans page.
21. Go ahead and click "Deposit"
22. Sign on MetaMask to deposit your USDC funds
23. Wait for transaction to confirm and agent to deploy your funds. This can take up to 3 minutes.
24. Your funds have been deployed successfully. Click on the "Continue to Dashboard" button
25. Welcome to your dashboard!