Research Summary
This report provides a comprehensive guide on how to use Fuji Finance, a cross-chain money market aggregator. It covers the process of launching the app, analyzing borrow markets, creating a cross-chain loan, paying back debt, depositing in lending vaults, and understanding analytics. The report also highlights the eligibility criteria and the recent updates in Fuji Finance.
Key Takeaways
Understanding Fuji Finance
- Role of Fuji Finance: Fuji Finance is a cross-chain money market aggregator that simplifies the process of managing debt positions and finding optimal interest rates across multiple blockchains.
- Unique Features: Fuji Finance allows users to borrow from any chain and withdraw to any chain, enhancing the overall user experience by eliminating the need to leave the user interface.
- Recent Updates: Fuji Finance recently went live after its V2 Himalaya upgrade, which added cross-chain functionality. It now supports lending for wETH, USDC, DAI, and USDT.
Using Fuji Finance
- Launching the App: Users can access Fuji Finance by visiting its website and clicking on the ‘Launch App’ button. They can then connect their wallets to the app.
- Analyzing Borrow Markets: Before creating a loan on Fuji, users need to consider factors such as collateral, network, safety rating, borrow APR, and liquidity.
- Creating a Cross-Chain Loan: Users can create a loan on one chain and borrow on another by following a five-step process: determining collateral and borrowing asset, choosing the source and destination chain, selecting the optimal route, reviewing the position, and confirming the transaction.
Managing Debt and Deposits
- Debt Payback: Users can pay back their debt and withdraw their collateral by going to ‘My Positions’, selecting ‘Withdraw/Payback’, and signing and executing transactions.
- Depositing in Lending Vaults: Users can deposit capital in Fuji’s lending vaults, which constantly monitor the markets to maximize returns. The process involves determining the asset type and network, finding the optimal route, and signing and executing transactions.
Actionable Insights
- Explore Fuji Finance: Given its unique features and user-friendly interface, individuals interested in DeFi lending and borrowing activities should consider exploring Fuji Finance.
- Stay Updated: Users should follow Fuji Finance on social media platforms like Twitter and join their Discord community to receive regular updates.
- Understand the Market: Before creating a loan on Fuji, users should thoroughly analyze the borrow markets and consider factors like collateral, network, safety rating, borrow APR, and liquidity.
