Earn on Aave + ibETH

Earn on “Aave + ETH” is an integration between Aave and Alpha Homora (the first leveraged yield farming product in DeFi and the product by Alpha Finance Lab). Through Alpha Homora frontend, users will be able to lend assets on Aave, have those assets be used as collateral, borrow ETH from Aave, and lend ETH borrowed on Alpha Homora.

This means your net gain will come from 2 different sources at the same time while only paying the borrow APY on ETH to Aave.

  • + deposit APY of assets lent on Aave

  • + deposit APY of ETH on Alpha Homora

  • -borrow APY of ETH on Aave

For current Aave users who have already lent assets on Aave and used them as collateral, how would this work for you?

  1. First, connect wallet and click on “Earn on Aave + ETH” on the left tab

2. Click on “Start earning on Aave + ETH” button

3. Since you have already lent assets on Aave and turned them on as collateral, you should see non-zero Collateral Value on the pop-up modal. In this case, you can either click Next to continue with borrowing ETH from Aave OR you can also lend more of any of the supported assets. Refer to the image below for example.

4. For the 2nd step on this pop-up modal, you can choose how many ETH you want to borrow from Aave. Note that by borrowing ETH from Aave, you are paying the borrow APY on Aave. Refer to the image below for example.

5. For the 3rd and last step on this pop-up modal, you need to confirm the transaction to lend the ETH you have on Alpha Homora. The ETH you have includes those you already have in your wallet AND the ETH you borrowed from Aave. By lending ETH on Alpha Homora, you will be earning the lending interest rate on ETH.

How does it work if you have not lent on Aave?

  1. First, connect wallet and click on “Earn on Aave + ETH” on the left tab

2. Click on “Start earning on Aave + ETH” button

3. Enter which asset and how many you want to lend on Aave. The percentage next to each asset (e.g. DAI) is the Deposit APY for lending that asset on Aave. Refer to the image below for example.

4. Once you completed the first step of the pop-up modal, the asset that you lent is now used as collateral, enabling you to borrow ETH from Aave. Now you can choose how many ETH you want to borrow from Aave. Note that by borrowing ETH from Aave, you are paying the borrow APY on Aave. Refer to the image below for example.

5. For the 3rd and last step, you need to confirm the transaction to lend the ETH you have on Alpha Homora. The ETH you have includes those you already have in your wallet AND the ETH you borrowed from Aave. By lending ETH on Alpha Homora, you will be earning the lending interest rate on ETH.