How To Deposit USDL into the Stability Pool (Quick Guide)

It’s no secret at this point, USDL is an AWESOME stablecoin.

It is truly-decentralized, fully-backed and generated by a protocol with no admin keys, no governance, and a decentralized oracle called Fetch.

But in order to unlock its full power, you need to earn trustless yield by becoming a stability provider.

Follow this Step-by-step guide to deposit USDL in the Stability Pool and become a stability provider.

How To Deposit USDL in the Stability Pool

Step 1: Obtain USDL

In order to deposit USDL in the Stability Pool, you must first have USDL. 

You can buy USDL on PulseX or another decentralized exchange.

Step 2: Visit The Liquid Loans dApp

The link for the Mainnet dApp is here.

Step 3: Connect Wallet

Once you’ve signed into your wallet, click “Connect Wallet” in the top right corner of the dApp.

Choose Metamask Wallet or Other.

Step 4: Deposit USDL into Stability Pool

Choose “Stability Pool” from the left sidebar.

Choose the amount of USDL you would like to stake then click “Confirm”.

Confirm the transaction in your wallet.

Congratulations, you have successfully become a Stability Provider for USDL!

Step 5: Monitor Your USDL

The Liquid Loans dApp displays your position in the Stability Pool on the right side of the screen.

You can monitor your existing stakes, your share of the pool and your rewards.

Your rewards come in the form of LOAN token emissions on a time based schedule as well as liquidations gains when you buy back vaults under 110% collateral ratio.

Note: With every liquidation, your USDL converts itself into PLS. If you wish to minimize your exposure to PLS and maximize your exposure to USDL, make sure to frequently claim your PLS rewards and sell them (or LOAN them) for USDL.