SPC token is now on Rari Capital

Unlock capital using your $SPC by putting them up as collateral!

SpaceChain
SpaceChain

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SpaceChain’s SPC token has been listed on DeFi lending platform Rari Capital and is in Pool #23 (Vesper’s pool).

With this listing, here are some things you can do on the platform using your SPC tokens.

1) Stake and deposit SPC

You can stake and deposit SPC or some other tokens into Rari #23, and passively earn interest when people borrow SPC. Best of all, SPC interest automatically compounds.

However, if no one borrows SPC from the pool, your interest earned will be zero. Despite this, you will not lose your tokens and can withdraw them anytime.

2) Borrow SPC

You can borrow SPC from the pool if you want to take additional trading and yield risk.

3) Deposit SPC, and use it as collateral

You can deposit SPC to use as collateral, and borrow other tokens, such as USDC or DAI stablecoins, from Rari #23.

You can then deposit the token (USDC for example) into another DeFi lending platform with higher APY, and earn a net profit (USDC interest earned — USDC borrowing cost on Rari).

For advanced traders and those with high-risk appetite, you can deposit SPC into Rari #23 and use that to borrow SPC and perform “leveraged long” trade.

An example of SPC leveraged long:

  • Deposit $100k SPC
  • Borrow $50k SPC
  • Deposit $50k SPC
  • Borrow $25k SPC
  • Deposit $25k SPC
  • etc.

Thus, you deposit SPC to borrow SPC, then deposit that borrowed SPC to gain collateral and borrow more SPC. You can perform this cycle as many times as you want, but it is risky. Please do your own research on leveraged trading strategies.

In a nutshell, you can do a lot of cool things on Rari Capital (Pool #23) now that you can use your SPC tokens as collateral. To understand more about how DeFi lending platforms work, read about CREAM Finance or Compound Finance.

Got more questions? Check out Rari Capital’s community channels: Discord, Forum or Twitter.

* Note: Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice and ensure that you fully understand these risks before trading and staking. Always do your own research. SpaceChain will not be held responsible or liable for any token loss.

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