Tokos
Tokos is a decentralized liquidity protocol operating on the Somnia network that enables users to earn interest income by staking their digital assets or borrow funds by providing collateral. The protocol operates in a decentralized and transparent manner.
How to Supply Assets and Earn Interest?
Go to the Tokos App: Connect your wallet to the Tokos lending platform.
Select an Asset: Choose the digital asset you wish to supply from the list of available markets.
Enter Amount: Specify the amount of the asset you want to supply to the liquidity pool.
Approve & Supply: First, approve the Tokos smart contract to spend your tokens, then submit the supply transaction.
Start Earning: Once your transaction is confirmed, you will start earning interest on your supplied assets. You will receive a corresponding amount of aTokens (e.g., aUSDC), which represent your share in the pool and accrue interest in real-time.
How to Borrow Assets?
Supply Collateral: Before you can borrow, you must supply assets to be used as collateral.
Enable as Collateral: In your supply dashboard, make sure the asset you want to use as collateral is enabled.
Choose Asset to Borrow: Select the asset you wish to borrow from the "Borrow" section.
Specify Amount: Enter the amount you want to borrow. The interface will show your "Health Factor," which indicates the safety of your loan. A lower Health Factor increases your risk of liquidation.
Confirm Transaction: Submit the borrow transaction. The borrowed assets will be transferred to your wallet.
2. For Developers
Tokos provides a base layer for developers to build their own DeFi applications. By interacting with the protocol's smart contracts, you can integrate borrowing/lending functions into your own platforms. You can access the Tokos smart contracts via the link.
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