How to Borrow and Repay BNB, Detailed Tutorial Available (with Images):
Regarding the requirement to hold BNB for new projects, how can one avoid the risk of price fluctuations?
If you hold BNB for new projects, you can operate directly. If you do not hold the spot, you can choose to hedge through contracts or use lending to avoid price risk. I won't introduce contracts here; everyone understands them. If you don't understand, leave a message. This article mainly teaches you how to lend BNB.
There is a rule for lending: you can only borrow 80% of the staked assets, so prepare sufficient funds. And regarding interest, this can actually be neglected; it’s really very low.
How to lend BNB on Binance:
Step 1: Open the web3 wallet — click on Discover below — then click on the DApp at the top, scroll down, find Venus in the BNB Chain ecosystem section, and click to enter (decentralized lending market). Click on Connect wallet in the upper right corner to connect your wallet, select Binance Wallet to connect.
Step 2: After connecting the wallet, scroll down to find USDT (I am using USDT as collateral here; if you want to pledge USDC·FDUSD, choose accordingly).
Enter the amount of collateral you want to supply here and make sure to check this box, then input the USDT you are pledging (I used 35 USD as an example). Then click on Supply below to confirm the collateral.
Step 3: Click on the back button in the upper left corner to return to the Venus homepage, scroll down, find the BNB option and click to enter.
Click on Borrow (which means to borrow), input the amount of BNB to borrow, then click on Borrow in the blue box at the bottom. A contract call will pop up; just confirm, and you’re done. In this tutorial, I only pledged 35 USDT, and you can input the amount you wish to borrow.
How to repay the borrowed BNB:
Return to the borrowing interface, click on Repay to return the coins. Click MAX for the repayment amount since there is a bit of interest generated from borrowing. Then click on Repay in the blue box at the bottom; confirm the contract call that pops up, and you’re done.
The redemption process is the same: first, go to the position where you pledged USDT, click Withdraw to extract, amount directly MAX, then click on Withdraw in the blue box below to proceed with the extraction. The contract call will pop up; just confirm, and the extraction is complete.
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