➡ How to Lend | Getting started with Nexen
Hello NEXEN Community,
This is the Nexen Tutorial for Lenders. Let’s go!
Nexen requires a minimum of 100 DAI or 100 USDT to create a lending request. You will also need a small amount of ETH in your wallet to pay gas costs (transaction fees).
This tutorial covers how to create a lending request. If you have any questions, get in touch with us.
Nexen has been designed to work with Metamask.
- Install Metamask (How to connect Metamask to Nexen | Guide)
- Create a new account to send your tokens to, OR, import the account currently holding your tokens via these options:
- Hardware wallet
- Private Key or JSON file
3. Ensure you have enough Ethereum to cover gas fees for the transactions.
4. Enable “contract data” in the Ethereum app if using a hardware wallet to sign transactions in Metamask.
We recommend using Chrome and clearing your browser cache if you are having trouble viewing balances or any other data on the website.
🔹 Deposit your assets
- Navigate to https://nexencrypto.com/crypto/ and ensure you are logged into Metamask and connected to the appropriate account. We recommend using the Chrome browser.
- Choose DAI or USDT depending on the asset you want to lend.
- Move your mouse pointer inside of the selected coin: you will see two links appear: Deposit and Withdraw. Press on Deposit.
- A popup will appear: complete the amount of DAI or USDT that you are willing to lend (and therefore, deposit).
- Once you confirm the popup, you will see a message stating how many transactions you need to sign. Normally you would need to sign one for approving our smart contract to take your coins, and another one to actually deposit them. Just stay on the website and sign the transactions that appear.
- Once your transactions have been mined, you will see your updated balance. Now you can create your loan. For this, navigate to https://nexencrypto.com/interest/.
- Go to the form section: select the coin you want to lend and you will see the “Amount to lend” box gets updated with the total you have. Modify this value to set the total you want to lend.
- Choose the loan term in days: this is the maximum period that the borrower can take to return your coins. Don’t worry, if he doesn’t, his collateral would be used to return your loan.
- Choose the expiration time in case your request is not matched by anone.
- Press the Create Request button and sign the Metamask transaction. After this, your request will be available for borrowers to take.
As you can see, it is easy! Start right here:
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