Supplying Assets
Identify Supplyable Assets on Your DashboardSupplying assets to Udon Finance is how you begin earning passive income and unlock the full potential of your crypto holdings. This guide will walk you through the simple steps to provide liquidity to the protocol, leveraging Chromia's efficient and gas-free network for a seamless experience.
1. Identify Supplyable Assets on Your Dashboard
Your Udon Finance dashboard is designed to give you an immediate overview of your financial possibilities.
Locate Assets for Supply:
On your dashboard, locate the table displaying assets available for supply. This table includes several key columns:
Assets: The cryptocurrency type (e.g., USDC, ETH).
Balance: Your current available balance of that asset in your connected wallet.
Price: The current market price of the asset.
Total Supply: The total amount of this asset currently supplied by all users in the pool.
APY: The Annual Percentage Yield you are estimated to earn by supplying this asset.
Collateral: Indicates if this asset can be used as collateral for borrowing.
Actions: This column contains the "Supply" and "Details" buttons.
Check Your Balance & Button Status:
The "Supply" button for each asset will only be active (enabled) if you have an available balance of that asset in your connected wallet. If your balance is zero, the button will be disabled, indicating that you cannot supply that specific asset at this moment.
2. Accessing the Supply Pop-up
Click "Supply":
Click on the "Supply" button corresponding to the asset you want to provide (e.g., for USDC).
Review Supply Details:
A "Supply" pop-up will appear, presenting all the necessary information and input fields:
Amount to Supply: The field where you'll enter the quantity of assets you wish to supply.
Supply APY: The current estimated Annual Percentage Yield you will earn.
Collateral: Confirms that this asset can be used as collateral.
Health Factor (Projected): Shows a real-time projection of how this supply action will impact your overall Health Factor (if you have existing borrow positions).
Supply Amount: Displays your current available balance of the chosen asset.
3. Executing the Supply Transaction
Enter Amount & Confirm Information:
Input the desired amount you wish to supply into the designated field. For instance, if supplying USDC, you might enter "200 USDC". Carefully review all displayed information within the pop-up to ensure it aligns with your intentions.
Click "Supply" and Confirm in Your Wallet:
Click the main "Supply" button within the pop-up. Your connected wallet (e.g., MetaMask) will then display a separate pop-up or notification asking for your transaction confirmation. Review the details of this transaction (including network fees, which are typically gas-free on Chromia for DApp interactions) and click "Confirm".
4. Verifying Your Supplied Assets on the Dashboard
After successfully confirming the transaction, your Udon Finance dashboard will update to reflect your newly supplied assets.
Dashboard Update & "Your Supply" Table: The DApp will automatically refresh to display the updated data. A new table titled "Your Supply" will appear on your dashboard (or your existing "Your Supply" table will be updated). Here, you can clearly see the asset you've just supplied added to your active positions, along with its current value and earnings.
5. Managing Your Collateral Status
Udon Finance provides you with granular control over how your supplied assets function within the protocol, particularly regarding their use as collateral.
Understanding the Collateral Toggle:
For each asset you've supplied, you'll notice a toggle switch labeled "Collateral." When this toggle is enabled (on), it means that this specific asset is being utilized as collateral for any loans you might have taken out. When the toggle is disabled (off), the asset is simply earning interest and cannot be used to back a loan.
Toggling Collateral On/Off:
You can freely toggle this switch on or off as needed, allowing you to manage which of your supplied assets secure your borrows. This flexibility empowers you to optimize your collateralization strategy.
Important Note: Disabled Collateral Toggle:
In specific circumstances, this toggle switch may appear disabled (grayed out) and unchangeable. This typically occurs if you have an active loan that is solely collateralized by the very asset you are attempting to un-toggle. In such a scenario, disabling its collateral status would immediately render your loan undercollateralized and critically exposed to liquidation risk.
This intelligent safeguard is crucial for maintaining the stability and health of your loan position, aligning with Udon's commitment to secure and reliable DeFi operations on Chromia.
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