Auto-Deposit into PsyLend to Earn Rewards
Last updated
Last updated
As of the date of this publication, PsyFi has temporarily suspended PsyVault rewards in favor of the PsyLend rewards program. To ensure that PsyVault users continue to reap the benefits, PsyFi has enable them to earn PsyLend rewards by depositing into a vaults which rare ecognized as collateral on the PsyLend platform.
Additionally, to streamline this process, PsyFi has implemented an "Auto-Deposit to PsyLend" feature for eligible vaults, making it more convenient for our users to maximize their rewards.
When depositing into a vault, users can simply select the "Boost APY with Lending" checkbox on the deposit tab to enable auto-deposit of their vault tokens into PsyLend. This not only allows users to automatically earn rewards but also contributes collateral to their PsyLend position, providing them with the option to borrow as needed.
