> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dyxy.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Lend overview

> Supply assets to earn interest, or borrow against your collateral, through Aave, Morpho, Kamino and Fluid.

DYXY Lend connects you to four of the largest onchain lending protocols: **Aave**, **Morpho**, **Kamino** and **Fluid**. You can supply assets to earn interest from borrowers, or deposit collateral and borrow against it. All markets are shown in one place, so you can compare rates across protocols and networks before you choose.

Your funds always go directly into the protocol's own contracts. DYXY never holds them.

## Two ways to use Lend

> **[Earn interest](https://docs.dyxy.io/earn/lend/supply.md)**
>
> Supply an asset such as USDC or ETH and earn a variable interest rate paid by borrowers.

> **[Collateral loans](https://docs.dyxy.io/earn/lend/borrow.md)**
>
> Deposit collateral and borrow another asset against it, without selling what you hold.

## How onchain lending works

1. **Lenders supply assets** to a market and earn interest.
2. **Borrowers deposit collateral** worth more than what they borrow. Loans are always overcollateralized.
3. **Interest rates move with demand.** The more of a market's supply is borrowed, the higher the rates for both borrowers and lenders.
4. **Risky loans are liquidated.** If a borrower's collateral falls too far in value, part of it is sold to repay the loan, protecting lenders.

## The market list

| Column | Meaning |
| - | - |
| **Asset** | The token you supply or borrow |
| **Protocol** | Aave, Morpho, Kamino or Fluid |
| **Network** | Where the market lives |
| **Supply APY** | The current yearly rate you earn as a lender |
| **Borrow APY** | The current yearly rate you pay as a borrower |
| **Total supplied** | How much is deposited in the market |
| **Available** | How much can still be borrowed or withdrawn right now |

> [!NOTE]
>
> Supply and borrow rates are variable. They change continuously with how much of the market is borrowed. The APY shown is the current rate, not a fixed return.

## Fees

DYXY charges no fee on lending. You pay network gas for each transaction. Protocols keep a share of borrower interest as a reserve, and the supply APY shown is what lenders receive after it.

> [!WARNING]
>
> Lending is exposed to smart contract risk, oracle failures, and, in extreme markets, bad debt. A market can also be fully borrowed for a while, which can delay withdrawals. See [Risks](https://docs.dyxy.io/resources/risks.md).


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.