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Lending and Borrowing Via SushiSwap

Table of Contents

If you have tried SuShiSwap App, you probably will see there is a tab called ‘Lend” and a tab called “Borrow”. This article will explain what these two tabs are and how they work.

BentoBox & Kashi #

BentoBox is a token vault that generates yield on the funds deposited by the users. It offers the liquidity providers the ability to earn by charging a fee to users who use the existing liquidity of the BentoBox,

Kashi, an isolated lending pair market is the first DeFi protocol built on BentoBox which allows users to create customized, gas-efficient markets while also lending and borrowing from exiting token pairs.

How to deposit funds into BentoBox #

Go to https://app.sushi.com/bentobox and click Enter.

Then you will be redirected to the Lending tab. At the top right-hand corner, you will find the BentoBox button 

Click on the button and you will see the list of tokens present in your wallet that you can use to deposit into the BentoBox. Select the token that you wish to deposit and enter your desired deposit amount.

Confirm by clicking Deposit.

When the process is completed, you will see your deposited amount available in the vault that you can use for the lending and borrowing process.

Lending #

All Kashi are supported by one token and one collateral liquidity concept. If you want to Lend, first select the token pair.

Then enter the amount of token that you have chosen as collateral and confirm the process by clicking Approve Kashi.

Once the translation is completed, you can see your lending details on the dashboard.

Borrow #

If you want to borrow, you need to first deposit the collateral that is paired with the token you wish to borrow. 

Click the desired token pair to borrow. Then add the amount of collateral in the first field and it will show you the maximum amount of tokens that you can borrow. 

Click Approve Kashi. Once the translation is completed, you can see your borrow position from the dashboard.

Conclusion #

There are still many other features on SushiSwap, please check the article “How to use SushiSwap” for more information.

Updated on January 7, 2022
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