How to lend snxUSD/Get USDA
Last updated
Last updated
Once you've acquired $snxUSD from "" you'll be able to lend this snxUSD on Amphora, which is how you mint $USDA. $USDA represents your deposits into Amphora, similar to a Compound cUSDC token or an Aave aUSDC token. On the main Amphora page you'll see the mint section:
In the mint section, you can enter the amount of snxUSD you want to deposit and click "mint USDA". On your first transaction you may be asked to approve your snxUSD.
Once done you'll have USDA. Because USDA automatically rebases with interest, you'll never need to spend gas to claim your earnings. For example, if you had 100 USDA in your wallet, and the lending rate was 7%, then over the course of the year your wallet will grow to 107 USDA.