Instructions to increase loan interest rates with Alpha Homora and Compound

Recently Alpha Homora and Compound have cooperated and launched a new feature to help users of both projects get more yield.

The following article is intended to guide those who have lent and also those who have not yet lent properties on Compound to receive higher interest rates through Alpha Homora.

First of all, read the following articles to understand more about Compound & Alpha Homora:

Do not lose this chance!

Detailed instructions

Case 1: Loaned property on Compound

• First you connect the above wallet Alpha Homora and click on the “Earn on Compound + ETH” tab.

• Click on “Start earning on Compound + ETH“.
• You will see the number of assets on Collateral Value. In this case, you can click NEXT or deposit more supported assets in the next deposit section. Those assets will be lent on Compound.

• Then lick Enable then press next.

• The next step is to choose the amount of ETH that you want to borrow from Compound to lend to Alpha Homora. APY lending ETH on Alpha Homora is higher than APY on Compound so users will get interest on that difference.

• The last step, you confirm the transaction and lend ETH on Alpha Homora to receive loan interest.

Case 2: Not yet lending properties on Compound

Same thing, but in step 3, you will enter the number of properties you want to lend on Compound. The asset edge percentage (eg DAI) is the APY you receive when lending properties on Compound.

Epilogue

Combinability is a great thing in DeFi, and examples like Alpha Homora and Compound are the best proof of this. Keeping up to date and knowing how to capture information will help us use our capital more effectively.