So you have provided collateral and borrowed some bnUSD, now lets find out how to deposit that bnUSD to the Balanced savings rate to earn enough yield to pay down your interest and keep some as profit!
🌱 Earn profit on your stablecoins. Provide them to the Balanced savings rate for an average 15% APR
Step-by-step instructions to deposit bnUSD into the Balanced Savings Rate
1. Find the the relevant task
Navigate to the season/task that is asking you to Deposit bnUSD into the Balanced savings rate.
2. Check wallet connection
Check that Hana wallet is logged in and open on the wallet you have connected to Hana rewards and wish to use for this task.
3. Head to Balanced
Under the title of the task, click Go to Balanced.
This will take you to the Balanced homepage, where you should have already deposited collateral and taken a bnUSD loan on Sui.
💡 For now, bnUSD can only be provided to the Balanced savings rate from the ICON. This guide will assume you have already borrowed bnUSD on Sui, following our guide here.
4. Connect to Balanced
In the top-right corner, click Sign in.
Click Connect wallet next to ICON.
This will connect Hana wallet to Balanced for ICON.
Then scroll down and click Connect wallet next to Sui.
Select Hana on the following screen.
This will connect Hana wallet to Balanced for Sui.
5. Prepare to deposit your bnUSD
⛽ Don't forget gas: You wont need much, but if you want to access the Balanced Savings Rate on the ICON Network you will want to swap for at least 3 ICX to cover future transaction fees.
I borrowed my bnUSD to the Sui Network
I borrowed my bnUSD to the Sui Network
If you borrowed your bnUSD to the Sui Network, then you must bridge it to the ICON Network before you can deposit it into the Savings Rate.
Click the Trade tab on the left-hand side of Balanced’s homepage.
This will take you to the trading page.
Click the Bridge tab near the top of the trading page.
Select Sui in the drop-down menu below ‘From’
Select ICON in the drop-down menu below ‘To’
Select bnUSD from the drop-down list of assets.
Enter manually, or click a drop-down option to select an amount of bnUSD to bridge.
💡 Your ICON address should auto-populate from your Hana wallet. If it does not, then an address can be manually added in this field.
Click Transfer.
In the following screen, confirm your selection and click Transfer.
In the Hana wallet window that appears, click Authorize to confirm the transaction.
This transaction will bridge your bnUSD to the ICON blockchain.
I borrowed my bnUSD to the ICON Network
I borrowed my bnUSD to the ICON Network
If you borrowed your bnUSD to the ICON Network, then it is already on the correct blockchain to be deposited into the Savings Rate.
Proceed to step 6.
6. Deposit bnUSD into the Balanced savings rate
Return to the Balanced homepage.
Scroll down to the Rewards modal.
Next to ‘Savings rate’ and the quoted APR, click Deposit bnUSD.
Using the slider of by manually entering a figure, select the amount of bnUSD to deposit to the savings rate.
Click Confirm.
7. Confirm bridge transaction
In the following screen, confirm your selection and click Deposit bnUSD.
8. Sign the transaction
In the Hana wallet window that appears, click Authorize to confirm the transaction.
You have successfully deposited bnUSD to the Balanced savings rate.
Claim your rewards daily by clicking Claim, within the Rewards modal.
💲 You will earn around 15% APR on your bnUSD for as long as it is provided to the savings rate. And you can withdraw at any time!
🏆 You will earn 1 XP per day for every 1 USD of value borrowed as bnUSD.
❕ XP will be updated once per day, this will not be a live figure.
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