How does the NCOG Lending Protocol work?
Users can deposit their crypto assets and coins on the NCOG DeFi protocol to participate in Crypto Trading, Lending, Yield Farming, and Staking. In the initial stage, they get activated through Metamask and Trust wallet. Users deposit their funds in a wallet, then the protocol utilizes it for lending purposes. Interests on the deposit will go directly to the wallet as credit. As the project progresses, more wallets will get linked to the platform. Below is the outline of the process for easy comprehension:
Directly link your wallet to NCOG DeFi
Select the asset you wish to lend
Specify the quantity
Confirm your selections (A small gas fee on the transaction applies)
Upon this, the protocol will then transfer your assets to the desired platform where you can earn an optimum interest. The wallet will function similarly to a bank where you can earn passive income on your deposits.
Based on the demand and supply of crypto assets, the interest percentage will fluctuate. With the help of our sound Smart Contracts, the process of borrowing and lending is fully automated.
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