Supplying assets to Moonwell
Users on Moonwell Apollo and Artemis are able to supply their assets to single-sided liquidity pools, or Money Markets, in order to start earning a variable interest rate, which is accrued on a block-by-block basis. Users are also able to leverage their supplied assets to borrow other tokens from the protocol.
Before supplying, determine if the token you wish to utilize is supported. Some bridges will have their own version of an asset which may not be supported on Moonwell. For a list of assets supported on Moonwell, please [click here].
If a user is wanting to supply an incompatible version of the asset, it may be possible to swap it at a decentralized exchange if there is sufficient liquidity. Otherwise, the only solution is to bridge back to the origin network, and then return on a compatible bridge or with a compatible asset.
For this demonstration, GLMR (Moonbeam’s native token) will be used.
The Health Factor Value status will fluctuate depending on the amount of assets supplied compared to the amount borrowed. In this demonstration, the health factor is 100 as there are no outstanding loans.
The user transaction history will display, beside the wallet transaction request. Confirm the transaction in wallet. Additionally, the transaction history can be closed or re-opened by the button in the bottom right corner of the page.
Click on the “Withdraw” button to open the modal window for withdrawing funds.
In the modal window, select the amount you wish to withdraw. In this case, “MAX” was selected in order to withdraw the full amount.
Confirm and sign the transaction in Metamask. All previous transactions can be viewed in the transaction log.