Getting Started
Learn how to get started with the CapyFi protocol, from basic concepts to advanced usage.
Quick Start Guide
Get up and running quickly
- Connect your wallet to the CapyFi interface
- Supply assets to earn interest
- Use supplied assets as collateral to borrow
- Monitor your account health
- Repay loans and withdraw assets
Prerequisites
What you need to get started
Ethereum Wallet
You'll need a Web3 wallet like MetaMask, WalletConnect, or Coinbase Wallet to interact with the protocol.
ETH for Gas
You need ETH to pay for transaction fees on the Ethereum network.
Supported Assets
Assets like ETH, USDC, DAI, WBTC, and others that are supported by the protocol.
Basic Concepts
Understanding the fundamentals
Supplying Assets
When you supply assets to CapyFi, you receive caTokens in return. These caTokens represent your share of the supply pool and accrue interest over time.
Borrowing Assets
You can use your supplied assets as collateral to borrow other assets. You must maintain a healthy collateralization ratio to avoid liquidation.
Interest Rates
Interest rates are dynamic and adjust based on supply and demand. Supply rates determine how much interest you earn, while borrow rates determine how much you pay.
Step-by-Step Tutorial
Your first interaction with CapyFi
Step 1: Supply Assets
Start by supplying assets to earn interest. For example, supply ETH to receive caETH tokens.
1. Go to the Supply section
2. Select ETH (or your preferred asset)
3. Enter the amount you want to supply
4. Click "Supply" and confirm the transactionStep 2: Enable Collateral
Enable your supplied assets to be used as collateral for borrowing.
1. Go to the Markets section
2. Find your supplied asset
3. Click "Enable as Collateral"
4. Confirm the transactionStep 3: Borrow Assets
Now you can borrow other assets using your collateral.
1. Go to the Borrow section
2. Select the asset you want to borrow
3. Enter the amount (within your borrowing limit)
4. Click "Borrow" and confirm the transactionImportant Considerations
Things to keep in mind
Liquidation Risk
If your collateral value falls below a certain threshold, your position may be liquidated. Always monitor your account health.
Interest Rates
Interest rates can change based on market conditions. Higher utilization typically leads to higher rates.
Gas Fees
Each transaction requires ETH for gas fees. Consider gas costs when making small transactions.
Next Steps
Continue your learning journey