# Table of Contents - [Overview | Extra Finance](#overview-extra-finance) - [MetaMask | Extra Finance](#metamask-extra-finance) - [Risks | Extra Finance](#risks-extra-finance) - [Thoroughly understand a farming position | Extra Finance](#thoroughly-understand-a-farming-position-extra-finance) - [Safe (Multi-Sig Wallet) | Extra Finance](#safe-multi-sig-wallet-extra-finance) - [Contracts & Transparency | Extra Finance](#contracts-transparency-extra-finance) - [Audits & Security | Extra Finance](#audits-security-extra-finance) - [Intro to Leveraged Yield Farming - Overall | Extra Finance](#intro-to-leveraged-yield-farming-overall-extra-finance) - [Pseudo Delta Neutral (PDN) Farming Strategy | Extra Finance](#pseudo-delta-neutral-pdn-farming-strategy-extra-finance) - [Bridge EXTRA | Extra Finance](#bridge-extra-extra-finance) - [FAQ | Extra Finance](#faq-extra-finance) - [Academy | Extra Finance](#academy-extra-finance) - [Welcome to Extra Finance | Extra Finance](#welcome-to-extra-finance-extra-finance) - [Getting Started | Extra Finance](#getting-started-extra-finance) - [Extra Finance Deep Dive | Extra Finance](#extra-finance-deep-dive-extra-finance) - [How Extra Finance Works | Extra Finance](#how-extra-finance-works-extra-finance) - [How to use | Extra Finance](#how-to-use-extra-finance) - [Introduction to Leveraged Yield Farming | Extra Finance](#introduction-to-leveraged-yield-farming-extra-finance) - [Close a Farming Position | Extra Finance](#close-a-farming-position-extra-finance) - [Intro to Leveraged Yield Farming - Long Strategy | Extra Finance](#intro-to-leveraged-yield-farming-long-strategy-extra-finance) - [Open a Farming Position | Extra Finance](#open-a-farming-position-extra-finance) - [Impermanent Loss | Extra Finance](#impermanent-loss-extra-finance) - [Long/Short Farming Strategy | Extra Finance](#long-short-farming-strategy-extra-finance) - [Strategy | Extra Finance](#strategy-extra-finance) - [Price Feed | Extra Finance](#price-feed-extra-finance) - [Re-investing Strategy | Extra Finance](#re-investing-strategy-extra-finance) - [Market Neutral Strategy | Extra Finance](#market-neutral-strategy-extra-finance) - [Liquidation | Extra Finance](#liquidation-extra-finance) - [Introduction to Lending | Extra Finance](#introduction-to-lending-extra-finance) - [Pseudo-Fixed-Interest-Rate Model | Extra Finance](#pseudo-fixed-interest-rate-model-extra-finance) - [Interest Rate Model | Extra Finance](#interest-rate-model-extra-finance) - [ve-Mechanism & Utility V2 | Extra Finance](#ve-mechanism-utility-v2-extra-finance) - [Tokenomics V1 | Extra Finance](#tokenomics-v1-extra-finance) - [Introduction to Tokenomics V2 | Extra Finance](#introduction-to-tokenomics-v2-extra-finance) - [Staking V2 | Extra Finance](#staking-v2-extra-finance) - [How to use | Extra Finance](#how-to-use-extra-finance) - [Param & Fee | Extra Finance](#param-fee-extra-finance) - [Terminologies | Extra Finance](#terminologies-extra-finance) - [ve-Mechanism & Utility | Extra Finance](#ve-mechanism-utility-extra-finance) - [Term of Use | Extra Finance](#term-of-use-extra-finance) - [Links | Extra Finance](#links-extra-finance) - [Allocation & Emission | Extra Finance](#allocation-emission-extra-finance) - [Staking | Extra Finance](#staking-extra-finance) - [Pool Info | Extra Finance](#pool-info-extra-finance) - [How to Stake (to veEXTRA) | Extra Finance](#how-to-stake-to-veextra-extra-finance) - [Roadmap | Extra Finance](#roadmap-extra-finance) - [Brand Assets | Extra Finance](#brand-assets-extra-finance) - [Allocation & Emission V2 | Extra Finance](#allocation-emission-v2-extra-finance) - [Introduction to Leveraged Yield Farming | Extra Finance](#introduction-to-leveraged-yield-farming-extra-finance) - [Welcome to XLend 🎉 | Extrafi XLend](#welcome-to-xlend-extrafi-xlend) - [Roadmap | Extrafi XLend](#roadmap-extrafi-xlend) - [Introduction to Tokenomics V2 | Extra Finance](#introduction-to-tokenomics-v2-extra-finance) - [Param & Fee | Extra Finance](#param-fee-extra-finance) - [Introduction to Lending | Extra Finance](#introduction-to-lending-extra-finance) - [Strategy | Extrafi XLend](#strategy-extrafi-xlend) - [Multi-Account System | Extrafi XLend](#multi-account-system-extrafi-xlend) - [Borrow / Lend | Extrafi XLend](#borrow-lend-extrafi-xlend) - [Vaults on Morpho | Extrafi XLend](#vaults-on-morpho-extrafi-xlend) - [Security | Extrafi XLend](#security-extrafi-xlend) - [Governance | Extrafi XLend](#governance-extrafi-xlend) - [XLend Incentives Program | Extrafi XLend](#xlend-incentives-program-extrafi-xlend) - [Brand Assets | Extrafi XLend](#brand-assets-extrafi-xlend) - [Developer Resource | Extrafi XLend](#developer-resource-extrafi-xlend) - [Terms of Use | Extrafi XLend](#terms-of-use-extrafi-xlend) - [Glossary | Extrafi XLend](#glossary-extrafi-xlend) - [Audits & Security | Extrafi XLend](#audits-security-extrafi-xlend) - [How to Use | Extrafi XLend](#how-to-use-extrafi-xlend) - [How to Use | Extrafi XLend](#how-to-use-extrafi-xlend) - [Email Protection | Cloudflare](#email-protection-cloudflare) - [Overview | Extrafi XLend](#overview-extrafi-xlend) - [Concepts | Extrafi XLend](#concepts-extrafi-xlend) - [Overview | Extrafi XLend](#overview-extrafi-xlend) - [How strategy works | Extrafi XLend](#how-strategy-works-extrafi-xlend) - [FAQ | Extrafi XLend](#faq-extrafi-xlend) - [Price Feed | Extrafi XLend](#price-feed-extrafi-xlend) - [How it Works | Extrafi XLend](#how-it-works-extrafi-xlend) - [Liquidations | Extrafi XLend](#liquidations-extrafi-xlend) - [FAQ | Extrafi XLend](#faq-extrafi-xlend) - [Parameters | Extrafi XLend](#parameters-extrafi-xlend) - [Interest Rate Strategy | Extrafi XLend](#interest-rate-strategy-extrafi-xlend) - [Isolation Mode | Extrafi XLend](#isolation-mode-extrafi-xlend) - [Overview | Extrafi XLend](#overview-extrafi-xlend) - [Risk Management | Extrafi XLend](#risk-management-extrafi-xlend) - [E-Mode | Extrafi XLend](#e-mode-extrafi-xlend) - [Risks | Extrafi XLend](#risks-extrafi-xlend) - [Execution of Proposals | Extrafi XLend](#execution-of-proposals-extrafi-xlend) - [Backstop Solution | Extrafi XLend](#backstop-solution-extrafi-xlend) - [FAQ | Extrafi XLend](#faq-extrafi-xlend) - [Incentive Eligibility & Reward Rules | Extrafi XLend](#incentive-eligibility-reward-rules-extrafi-xlend) - [Governance Process | Extrafi XLend](#governance-process-extrafi-xlend) - [How Lending Incentives Are Distributed | Extrafi XLend](#how-lending-incentives-are-distributed-extrafi-xlend) - [Vault & LP Incentives | Extrafi XLend](#vault-lp-incentives-extrafi-xlend) --- # Overview | Extra Finance On Extra Finance, users can implement customized farming strategies, or deposit to lending pools to earn lending interest. To find out more about our products, click on the links below: [Leveraged Yield Farming](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming) [Lending](https://docs.extrafi.io/extra_finance/lending/introduction-to-lending) Auto-Vaults (Planned) [PreviousWelcome to Extra Financechevron-left](https://docs.extrafi.io/extra_finance) [NextGetting Startedchevron-right](https://docs.extrafi.io/extra_finance/getting-started) Last updated 1 year ago --- # MetaMask | Extra Finance MetaMask Wallet is a crypto wallet & gateway to Ethereum blockchain apps. #### [hashtag](https://docs.extrafi.io/extra_finance/getting-started/metamask#setting-up-a-metamask-wallet) **Setting up a MetaMask Wallet** If you haven’t installed MetaMask on your browser (i.e. Chrome, Brave, or Firefox) or mobile phone, please download it using [this linkarrow-up-right](https://metamask.io/download/) . **IMPORTANT:** _Never share your secret seed phrase/private keys with anyone._ #### [hashtag](https://docs.extrafi.io/extra_finance/getting-started/metamask#connect-metamask-to-extra-finance) **Connect MetaMask to Extra Finance** 1. Click the **Connect Wallet** button on the right-top corner of the page ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FkY0qm0yhR6BHghDFfdPM%252F1683615510641.png%3Falt%3Dmedia%26token%3D9fe6fe52-2c53-4bb1-a3c2-2c38b3bcf838&width=768&dpr=3&quality=100&sign=b7820777&sv=2) 1. Choose **Metamask** ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F9P4O0r13yiqFISy74Tx9%252F1683615552657.png%3Falt%3Dmedia%26token%3D331dfd11-c721-4813-bf62-fd0b494c5a3f&width=768&dpr=3&quality=100&sign=b0115600&sv=2) 1. Select the correct account and click **Next** ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fu0g1YKcSWL4uSagAtHjm%252F1683619038759.png%3Falt%3Dmedia%26token%3D40c8f329-e957-4e0e-a1a4-a416c5175535&width=768&dpr=3&quality=100&sign=5132662d&sv=2) 1. Click **Connect**. You're ready to Farm & Lend! ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F5zyCQuHQKmxAzLjXH37d%252F1683619099998.png%3Falt%3Dmedia%26token%3Dc4e863b1-d3cd-4fb0-bb1d-51bf55abb417&width=768&dpr=3&quality=100&sign=f10646f0&sv=2) [PreviousGetting Startedchevron-left](https://docs.extrafi.io/extra_finance/getting-started) [NextSafe (Multi-Sig Wallet)chevron-right](https://docs.extrafi.io/extra_finance/getting-started/safe-multi-sig-wallet) Last updated 1 year ago --- # Risks | Extra Finance _**DeFi protocols come with risks, including Extra Finance, please use it at your own discretion.**_ Investing in Decentralized Finance (DeFi) products carries inherent risks due to the nature of the underlying smart contracts and potential cybersecurity threats. Smart contracts, which are self-executing contracts with the terms of the agreement directly written into code, may contain bugs, vulnerabilities, or coding errors that could lead to the loss of funds, unauthorized access, or other unexpected outcomes. Additionally, DeFi platforms may be targeted by hackers and malicious actors who seek to exploit vulnerabilities in the system, which may result in theft or loss of assets. Users should be aware of these risks and undertake proper due diligence before participating in any DeFi product. ### [hashtag](https://docs.extrafi.io/extra_finance/risks#undefined) ### [hashtag](https://docs.extrafi.io/extra_finance/risks#for-yield-farmers) **For Yield Farmers** **Price Impact** Price impact is the effect that a farmer's individual trade has on the market price of an underlying asset pair. When opening a position, it is important to consider the size of the pool relative to the size of the position. If the position is large, it may require swapping, which could result in a large price impact being incurred. This means that the market price could move significantly due to the farmer's trade. Therefore, farmers must be aware of the factors that can affect the price impact, such farmers can minimize the price impact and make more informed trading decisions. **Impermanent Loss** Impermanent Loss is a crucial concept that farmers must understand, it occurs when the price of one token in the liquidity providing position increases or decreases in comparison to another token. The greater the difference, the more vulnerable the position is to impermanent loss, resulting in less valuable assets at the time of withdrawal than at the time of deposit. **Liquidation** Leveraged products (including leverage yield farming) involve risks due to their inherent nature. The use of leverage amplifies both potential gains and potential losses, which may lead to rapid and substantial fluctuations in the value of your investment. This may result in a higher risk of liquidation, where your position is forcibly closed by the platform to prevent further losses, potentially leading to the loss of your entire initial investment or more. It is important to understand the risks associated with leveraged products, including the possibility of losing more than the initial investment, and to carefully assess their risk tolerance and financial situation before engaging in such activities. On Extra Finance, opening a leveraged position involves borrowing crypto assets to increase your potential return. Doing so allows you to take advantage of market fluctuations and potentially achieve greater profits than if you had simply invested your own funds. However, it's important to be aware of the risks involved. One such risk is the possibility of liquidation. If the debt ratio (debt value/position value) of a particular farm exceeds the liquidation threshold, your position will be liquidated. This means that your borrowed funds will be returned to the lender, and any remaining portion will be returned . It's important to keep an eye on the debt ratio and make sure that it stays within safe levels to avoid liquidation. **There is also a risk of depleting all assets, particularly in markets with significant price fluctuations and insufficient liquidity to facilitate liquidation at precise execution prices.** ### [hashtag](https://docs.extrafi.io/extra_finance/risks#for-lenders) **For Lenders** **Timing of Asset Return** If the utilization rate of the lending pool is at a very high level and most of the assets in the pool are borrowed, users may not be able to withdraw the deposited assets on time until the farmers repay the debt. **Bad Debt** If the liquidation bot fails to liquidate the leverage farming position in time, there would be some bad debt. ### [hashtag](https://docs.extrafi.io/extra_finance/risks#undefined-1) ### [hashtag](https://docs.extrafi.io/extra_finance/risks#smart-contract-risks) **Smart Contract Risks** Although our smart contract has undergone rigorous auditing by reputable third-party firms, there is always a possibility of theoretical vulnerabilities. We are committed to minimizing potential risks and ensuring transparency with our users. However, as with any complex system, unforeseeable circumstances can occur, not limited to DeFi. **Please use at discretion and invest only what you can afford to lose.** ### [hashtag](https://docs.extrafi.io/extra_finance/risks#risk-management-of-extra-finance) Risk Management of Extra Finance * Getting smart contracts audited to reduce the chances of vulnerabilities. You can find the audit reports [here](https://docs.extrafi.io/extra_finance/audits-and-security) . * We’re also running a bug bounty program on ImmuneFi that rewards individuals for reporting vulnerabilities in our code. You can find further information on this program [herearrow-up-right](https://immunefi.com/bounty/extrafinance/) . * We only integrate with mainstream DEXes that have been audited and shown to have a good security record. [PreviousAudits & Securitychevron-left](https://docs.extrafi.io/extra_finance/audits-and-security) [NextContracts & Transparencychevron-right](https://docs.extrafi.io/extra_finance/contracts-and-transparency) Last updated 1 year ago --- # Thoroughly understand a farming position | Extra Finance When leveraged farming, it is always important to thoroughly understand your position. Let's explore the key information you should pay attention to regarding your position on Extra Finance. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fi6TkgOJ1H0Ku0Lzt9Wbs%252Fimage.png%3Falt%3Dmedia%26token%3D2f6e8880-d1ca-45c9-9df5-281240e92228&width=768&dpr=3&quality=100&sign=785c21da&sv=2) **Net Exposure** When you hover over the leverage rate on your position, you can view current long or short exposure to specific asset(s). If the displayed status appears as 'Neutral', it indicates that your position is approaching a state of having no exposure to risk assets. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FTRvBV1ZazLGmdHtqfYwc%252Fimage.png%3Falt%3Dmedia%26token%3D30d8d5bc-93ae-4f2b-9513-fa2d08d6f9bc&width=768&dpr=3&quality=100&sign=30e14d2a&sv=2) **Equity Value** Which is the estimated value you can get if you close your position. This column also shows your current PnL by value & percentage. If you hover over it, you can review what you deposited, and how much you gained against both assets. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FmI2BdYGA03BjQRs8Ff5Q%252Fimage.png%3Falt%3Dmedia%26token%3Da091f3d7-c428-4dd1-adc5-99e82d44778c&width=768&dpr=3&quality=100&sign=66b3c8ea&sv=2) **Earning** It is about your farming efficiency. Please note that your actual PnL is calculated based on: Farmed - Borrowing Fee - Impermanent Loss - Swap Fee Sometimes high borrowing APR can lead to negative APY, Please pay attention to the total APR from time to time. **Liquidation Buffer** You can read from the chart about the liquidation point of the position intuitively. Please always keep the buffer SAFE to avoid potential liquidation. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F1uuA0ToSYjE9s4AX31z8%252Fimage.png%3Falt%3Dmedia%26token%3Df81a811a-f026-4c2b-8411-15e903d5fce7&width=768&dpr=3&quality=100&sign=e275f7c8&sv=2) **Position Tunning** On Extra Finance you can adjust your position flexibly: * Add more collateral to keep your position safe * Increase leverage factor by borrowing more assets - Repay debt to de-leverage * And lastly, you can always choose which asset to exit with. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F4cebbpZxIR2dI2B3cJ65%252Fimage.png%3Falt%3Dmedia%26token%3D8204dffe-fc01-4f0b-bc98-bae68a366d72&width=768&dpr=3&quality=100&sign=a1cb555f&sv=2) **Expand More Information** Just click on your position, and it will expand to show more info including 'position duration', 'debt value', 'current price', and 'LP price'. Be sure to review this info to have a comprehensive understanding of your positions. [PreviousAcademychevron-left](https://docs.extrafi.io/extra_finance/academy) [NextIntro to Leveraged Yield Farming - Overallchevron-right](https://docs.extrafi.io/extra_finance/academy/intro-to-leveraged-yield-farming-overall) Last updated 2 years ago --- # Safe (Multi-Sig Wallet) | Extra Finance 1. Go to [https://app.safe.globalarrow-up-right](https://app.safe.global/) and click **Connect a wallet** ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FNkw3iNVkO5d7y9uc016h%252Fimage.png%3Falt%3Dmedia%26token%3Db9ca5f50-18d5-4427-9d81-4ceb8e35e6e3&width=768&dpr=3&quality=100&sign=802cfb79&sv=2) 1. Use your SAFE mobile app to scan the QR code shown after you click the button. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F9SEBDgHAVpEYbV5x9rh2%252Fimage.png%3Falt%3Dmedia%26token%3Dc9b4cf0e-5341-4d04-bbd4-46c5cb20eeae&width=768&dpr=3&quality=100&sign=7b19e1d9&sv=2) 1. Confirm on your SAFE mobile app, and then add Extra finance with "[https://app.extrafi.io/arrow-up-right](https://app.extrafi.io/lend) " in the input box: ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FDOtVaz0tP1WmTBUHhpKd%252Fimage.png%3Falt%3Dmedia%26token%3D5fe16c06-d8aa-40e9-b193-968c10d29a79&width=768&dpr=3&quality=100&sign=c03f9d37&sv=2) 1. Now you can click the 'Extra Finance' app and go farming or lending with Safe Multi-Sig Wallet. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F8SVcpMHAVe5m9Rca7xqs%252Fimage.png%3Falt%3Dmedia%26token%3Da5a0456e-1de6-4c2f-b521-a584845fbbd4&width=768&dpr=3&quality=100&sign=22829bc&sv=2) [PreviousMetaMaskchevron-left](https://docs.extrafi.io/extra_finance/getting-started/metamask) [NextAudits & Securitychevron-right](https://docs.extrafi.io/extra_finance/audits-and-security) Last updated 1 year ago --- # Contracts & Transparency | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/contracts-and-transparency#extra-token-address) EXTRA Token Address 0x2dAD3a13ef0C6366220f989157009e501e7938F8 Network OP Mainnet [https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8arrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8) Base [https://basescan.org/token/0x2dad3a13ef0c6366220f989157009e501e7938f8arrow-up-right](https://basescan.org/token/0x2dad3a13ef0c6366220f989157009e501e7938f8) (Token bridge powered by [LayerZeroarrow-up-right](https://medium.com/layerzero-official/explaining-the-oft-standard-310de5e84052) ) ### [hashtag](https://docs.extrafi.io/extra_finance/contracts-and-transparency#dapp-contract-address) DAPP Contract Address \[Lending\] - Extra Finance(OP Mainnet): [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Foptimistic.etherscan.io%2Fassets%2Foptimism%2Fimages%2Ffavicon.ico%3Fv%3D26.3.2.0&width=20&dpr=3&quality=100&sign=4b0bac57&sv=2)Extra Finance: Lending | Address: 0xbb505c54...05fc71cbd | OP Mainnet EtherscanOP Mainnet Explorerchevron-right](https://optimistic.etherscan.io/address/0xbb505c54d71e9e599cb8435b4f0ceec05fc71cbd#code) \[Farming\] - Extra Finance(OP Mainnet): [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Foptimistic.etherscan.io%2Fassets%2Foptimism%2Fimages%2Ffavicon.ico%3Fv%3D26.3.1.0&width=20&dpr=3&quality=100&sign=80c11ec0&sv=2)Extra Finance: Farming | Address: 0xf9cfb8a6...1c5957055 | OP Mainnet EtherscanOP Mainnet Explorerchevron-right](https://optimistic.etherscan.io/address/0xf9cfb8a62f50e10adde5aa888b44cf01c5957055#code) \[Lending\] - Extra Finance(Base): [https://basescan.org/address/0xbb505c54d71e9e599cb8435b4f0ceec05fc71cbd#codebasescan.orgchevron-right](https://basescan.org/address/0xbb505c54d71e9e599cb8435b4f0ceec05fc71cbd#code) \[Farming\] - Extra Finance(Base): [https://basescan.org/address/0xf9cfb8a62f50e10adde5aa888b44cf01c5957055#codebasescan.orgchevron-right](https://basescan.org/address/0xf9cfb8a62f50e10adde5aa888b44cf01c5957055#code) #### [hashtag](https://docs.extrafi.io/extra_finance/contracts-and-transparency#newly-open-sourced-code-jul-2023) Newly Open-Sourced Code, Jul 2023 \[Staking\] - Extra Finance: [https://optimistic.etherscan.io/address/0xe0bec4f45aef64cec9dcb9010d4beffb13e91466optimistic.etherscan.iochevron-right](https://optimistic.etherscan.io/address/0xe0bec4f45aef64cec9dcb9010d4beffb13e91466) \[RewardDistributor\] - Extra Finance: [https://optimistic.etherscan.io/address/0xb7d8613728efcfbb18bcd63deec06f64441d322a#codeoptimistic.etherscan.iochevron-right](https://optimistic.etherscan.io/address/0xb7d8613728efcfbb18bcd63deec06f64441d322a#code) (More in the schedule along with additional audits and bug bounties) ### [hashtag](https://docs.extrafi.io/extra_finance/contracts-and-transparency#transparency) Transparency Copy // Protocol Treasury (EXTRA_Rainy_Day_Fund): cover for unexpected protocol-level risk Protocol Treasury: "0xc918a60e4d40d15959a85fa8b35f6db96907babf", // EXTRA_Community_Fund: receive revested tokens for community fund EXTRA_Community_Fund: "0x89F0885DA2553232aeEf201692F8C97E24715c83", //EXTRA_Community_Fund_2(Non Circulating):non-circulating shares of community fund EXTRA_Community_Fund_2: "0x48F12DF639322e43Ce83Bb6e12bBa46c8e85f703" // Team Development and Operation Fund: protocol fee accumulated to this wallet EXTRA_Dev_Fund: "0x4059e170D325163e2eC96cF8Ca489C40B6927A8c", // EXTRA_Gov: protocol parameters controlled by this wallet EXTRA_Gov: "0x750f7153e6c92a24089a34eC6AFe65740C9bd40A", // EXTRA_Team_Multisig_Wallet EXTRA_Team_Fund: "0x94440d355877696753597E2d90d54BbC51b2a38D", [PreviousRiskschevron-left](https://docs.extrafi.io/extra_finance/risks) [NextAcademychevron-right](https://docs.extrafi.io/extra_finance/academy) Last updated 4 months ago --- # Audits & Security | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-1.-audits) **1\. Audits** * Audit report from BlockSec ([Sourcearrow-up-right](https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec_extrafinance_v1.0-signed.pdf) ) file-pdf 701KB [blocksec\_extrafinance\_v1.0-signed.pdf](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FuBnl6CYbGImtkx9N9iDP%2Fblocksec_extrafinance_v1.0-signed.pdf?alt=media&token=f36ff695-dd9b-48ac-bce3-74d6a506e893) PDF downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FuBnl6CYbGImtkx9N9iDP%2Fblocksec_extrafinance_v1.0-signed.pdf?alt=media&token=f36ff695-dd9b-48ac-bce3-74d6a506e893) BlockSec Team has confirmed that the potential issues have been fixed. * Audit report from PeckShield ([Sourcearrow-up-right](https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-ExtraFi-v1.0.pdf) ) file-pdf 348KB [PeckShield-Audit-Report-ExtraFi-v1.0.pdf](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FcuHasqCbUeVSTz53smRl%2FPeckShield-Audit-Report-ExtraFi-v1.0.pdf?alt=media&token=016c515c-edef-420c-a64a-3ab7e203aa5c) PDF downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FcuHasqCbUeVSTz53smRl%2FPeckShield-Audit-Report-ExtraFi-v1.0.pdf?alt=media&token=016c515c-edef-420c-a64a-3ab7e203aa5c) PeckShield Team has confirmed that the potential issues have been fixed. * Audit report from Sherlock ([Sourcearrow-up-right](https://github.com/sherlock-protocol/sherlock-reports/blob/main/audits/2024.12.01%20-%20Final%20-%20Extra%20Finance%20Audit%20Report.pdf) ) file-pdf 898KB [Extra Finance Audit Report.pdf](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2Fk1NX1zcl5i5vFn9IMMl9%2FExtra%20Finance%20Audit%20Report.pdf?alt=media&token=8e2af1b7-5612-459f-9348-e0236fbc0f5a) PDF downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2Fk1NX1zcl5i5vFn9IMMl9%2FExtra%20Finance%20Audit%20Report.pdf?alt=media&token=8e2af1b7-5612-459f-9348-e0236fbc0f5a) Sherlock Team has confirmed that the potential issues have been fixed. ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-2.-bug-bounty) **2\. Bug Bounty** ExtraFi runs a bug bounty program on ImmuneFi that rewards whitehats for reporting valid vulnerabilities in our code. You can find further information on this program [herearrow-up-right](https://immunefi.com/bounty/extrafinance/) . ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-3.-proactive-monitoring) 3\. Proactive Monitoring (The partnership has not yet been renewed in 2025, still in review) We have partnered with [Hexagatearrow-up-right](https://www.hexagate.com/) to protect the protocol from cyber exploits, hacks, governance, and financial risks. ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-4.-insurance) **4\. I**nsurance * Partnered with OpenCover. Users can buy covers for their ExtraFi positions through OpenCover, learn more [herearrow-up-right](https://opencover.com/extrafi) . * Or, users can buy covers through the InsurAce app, learn more [herearrow-up-right](https://app.insurace.io/coverage/cart?id=217&referrer=143402551780927157875127727508071861894707983124) . ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-5.-price-protection) **5\. Price Protection** Time-Weighted Average Price (TWAP) model is implemented in Extra Finance's smart contract to safeguard against abnormal price fluctuations and potential malicious price manipulation. Chainlink price feed is also aggregated on Extra Finance, it is used to avoid abnormal price fluctuation. [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fcdn.prod.website-files.com%2F61e4774ecd79d748406a58e4%2F626052b2d683d9fc8efe72c8_Group%2520308.png&width=20&dpr=3&quality=100&sign=b79c7081&sv=2)Extra Finance on Chainlink Ecosystem | Every Chainlink integration and partnershipwww.chainlinkecosystem.comchevron-right](https://www.chainlinkecosystem.com/ecosystem/extra-finance) ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-6.-access-control) **6\. Access Control** * No fund withdrawal function is designed for admin in smart contracts. * Multi-sig authentication is implemented for contract configurations, such as parameters like protocol fee, liquidation threshold, reserve rate, etc. * Upgrades on contract configurations are subject to a governance process, which includes a set of procedures and guidelines. This process involves multiple levels of review and approval from various stakeholders and serves to ensure transparency and consistency in managing changes to contract configurations. * The 'owner' role of the EXTRA token contract has been invalidated, meaning that no further new mints are possible. (Verify [Herearrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8#readContract#F6) ) ### [hashtag](https://docs.extrafi.io/extra_finance/audits-and-security#id-7.-risk-control) **7\. Risk Control** To mitigate the risk of lenders facing potential bad debt during market volatility and safeguard leveraged users from possible liquidations due to inadequate liquidity, Extra Finance has instituted a series of measures to list farming pools. These measures necessitate that these pools meet **vital liquidity thresholds**. Additionally, when configuring leveraged farming pools, careful consideration will be given to the following factors: * **Price Stability:** The TVL of a liquidity pool, combined with the stability of the underlying assets' prices, will play a pivotal role in determining the maximum allowable leverage factor for a specific farming pool. * **Asset Credibility:** Assets that are new to the market or possess lower credibility will be subject to restrictions on * The maximum leverage factor * The maximum value (or 'credit') that a leveraged pool can borrow from lending pools (This is why there are instances when users cannot open new positions, even if there are still assets available in the lending pools) * A lower [debt ratioarrow-up-right](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#formula) can be subject to liquidation, this implies that emerging asset liquidity pools could experience earlier liquidation compared to more established mainstream pools. * **Liquidity Proportion:** To enhance liquidation safety, if the liquidity proportion sourced from ExtraFi exceeds a threshold (typically 30%), we may temporarily disable leverage for opening new positions until the proportion decreases. (Disabling leverage does not mean de-listing; it is a precautionary risk control measure.) References: 1. [https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec\_extrafinance\_v1.0-signed.pdfarrow-up-right](https://github.com/blocksecteam/audit-reports/blob/main/solidity/blocksec_extrafinance_v1.0-signed.pdf) 2. [https://github.com/peckshield/publications/tree/master/audit\_reports/PeckShield-Audit-Report-ExtraFi-v1.0.pdfarrow-up-right](https://github.com/peckshield/publications/tree/master/audit_reports/PeckShield-Audit-Report-ExtraFi-v1.0.pdf) 3. [https://github.com/sherlock-protocol/sherlock-reports/blob/main/audits/2024.12.01%20-%20Final%20-%20Extra%20Finance%20Audit%20Report.pdfarrow-up-right](https://github.com/sherlock-protocol/sherlock-reports/blob/main/audits/2024.12.01%20-%20Final%20-%20Extra%20Finance%20Audit%20Report.pdf) [PreviousSafe (Multi-Sig Wallet)chevron-left](https://docs.extrafi.io/extra_finance/getting-started/safe-multi-sig-wallet) [NextRiskschevron-right](https://docs.extrafi.io/extra_finance/risks) Last updated 10 months ago --- # Intro to Leveraged Yield Farming - Overall | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fhhp9GqtZjBfofaIdzHCc%252FTwitter%2520post%2520-%2520126%2520%281%29.png%3Falt%3Dmedia%26token%3D36974c8d-2d9e-45b2-b9bb-4552bf90533a&width=768&dpr=3&quality=100&sign=5cb37a61&sv=2) LYF, or Leveraged Yield Farming, is a DeFi-native financial strategy that involves farming with leverage. It was first introduced during DeFi summer and has since proven to be highly effective in practice. Consider 3x LYF as an example, whereby twice valued capital is borrowed and invested in the same liquidity farming pool. Ideally, 3x LYF can almost triple the APR of normal yield farming, and the final APY can be further enhanced with auto-compound. However, the leverage ratio is not the only factor to consider in LYF. As the market continues to rapidly evolve, the price of tokens in your chosen trading pair will play a critical role in determining your final earnings. Many factors impact your earning performance, such as the tokens you initially hold, the tokens you borrow to add leverage, the leverage ratio, and more. Extra Finance offers various farming templates for different market conditions, making LYF more accessible to DeFi users. [PreviousThoroughly understand a farming positionchevron-left](https://docs.extrafi.io/extra_finance/academy/thoroughly-understand-a-farming-position) [NextIntro to Leveraged Yield Farming - Long Strategychevron-right](https://docs.extrafi.io/extra_finance/academy/intro-to-leveraged-yield-farming-long-strategy) Last updated 2 years ago --- # Pseudo Delta Neutral (PDN) Farming Strategy | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FsV9bmsqqbfVNxgYfDuYn%252FTwitter%2520post%2520-%2520109.png%3Falt%3Dmedia%26token%3Db65c0a8d-5338-4994-8860-45ec6ee45507&width=768&dpr=3&quality=100&sign=e68e3f3a&sv=2) Long and short strategies play vital roles in the financial market. When combined, they create the game-changing delta-neutral hedge. Let's explore how PDN works and why it's well-suited for leveraged farming The GIF below demonstrates the 30 days PnL of the 3x PDN strategy applied to the USDC-ETH trading pair with a base APR of 40%. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOgoTX1shPgc87qBVyOoR%252FDelta%2520Neutral.gif%3Falt%3Dmedia%26token%3D8e002f2e-67eb-4f93-82f2-20cdfb37572b&width=768&dpr=3&quality=100&sign=633a697b&sv=2) PDN farming strategy comprises two positions: a long position and a short position that offset each other's exposure. Let's take a 3x ETH/USDC PDN position with $400 USDC initial as an example. One position is $100 USDC with $200 borrowed USDC, $150 USDC is converted into ETH to form the LP, generating a $150 ETH long exposure. Another one is $300 USDC with $600 borrowed ETH, $150 ETH is converted into USDC to form LP, generating a $150 ETH short exposure. In this scenario, the total exposure is $150 - $150 = zero (Delta Neutral). However, as the price of ETH fluctuates, the exposure will change, causing the delta to deviate from 0. That's why we call it Pseudo-Delta Neutral. To address this, rebalancing is necessary. In short, the PDN strategy is perfect for users seeking stable earnings. As shown in the GIF above, it generates a positive PnL across a wide price range (-40% to 50+% on the 30th day). Additionally, it can be utilized to create various volatility derivatives. While PDN is a fantastic strategy with numerous possibilities, it may appear complex for new users. ExtraFi offers an in-built PDN template to make it accessible to everyone when opening a farming position. Related post: [https://twitter.com/ExtraFi\_io/status/1683489949872533504arrow-up-right](https://twitter.com/ExtraFi_io/status/1683489949872533504) [PreviousIntro to Leveraged Yield Farming - Long Strategychevron-left](https://docs.extrafi.io/extra_finance/academy/intro-to-leveraged-yield-farming-long-strategy) [NextExtra Finance Deep Divechevron-right](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive) Last updated 2 years ago --- # Bridge EXTRA | Extra Finance EXTRA Bridge is powered by [LayerZero's omnichain bridgearrow-up-right](https://layerzero.network/) and EXTRA currently can be bridged between Optimism and Base networks. **EXTRA Tokens** Chain Token Address Explorer Optimism 0x2dad3a13ef0c6366220f989157009e501e7938f8 [Etherscanarrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8) Base 0x2dad3a13ef0c6366220f989157009e501e7938f8 [Basescanarrow-up-right](https://basescan.org/token/0x2dad3a13ef0c6366220f989157009e501e7938f8) **To bridge EXTRA between Optimism and Base networks, simply follow the steps below:** 1. Visit the [EXTRA Bridge pagearrow-up-right](https://app.extrafi.io/bridge) 2. Connect to your Web3 wallet (such as [MetaMask](https://docs.extrafi.io/extra_finance/getting-started/metamask) . Please ensure that you have a sufficient amount of ETH to cover on-chain gas fees. These fees will be charged by the Optimism/Base chain. ExtraFi still maintains 0.00 gas for in-app transactions) 3. Choose the **Optimism** network if you'd like to bridge EXTRA from Optimism to Base (Or choose the **Base** network if you'd like to bridge EXTRA from Base to Optimism) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FwVzyvaq4ltJSh0pua1KE%252Fimage.png%3Falt%3Dmedia%26token%3D8e2aff70-4460-464b-b43e-6431d49c0060&width=768&dpr=3&quality=100&sign=6bce01a1&sv=2) 1. Enter the amount of EXTRA to bridge 2. Click on "**Bridge**" and approve in your wallet ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FLTeakzKTXFar8RN7vACL%252F1693841998436.png%3Falt%3Dmedia%26token%3D11e0e947-bc66-48f5-a42a-5618a3db8570&width=768&dpr=3&quality=100&sign=317c9202&sv=2) 3. Switch the network to **Base/Optimism** and you'll see the bridged EXTRA tokens ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F08Kn4064EqcrWC1gjovH%252Fimage.png%3Falt%3Dmedia%26token%3Dd9412e45-fbfc-429b-8c00-1aed0d3f5282&width=768&dpr=3&quality=100&sign=c197e681&sv=2) [PreviousExtra Finance Deep Divechevron-left](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive) [NextFAQchevron-right](https://docs.extrafi.io/extra_finance/faq) Last updated 1 year ago --- # FAQ | Extra Finance chevron-right**What is Extra Finance?**[hashtag](https://docs.extrafi.io/extra_finance/faq#what-is-extra-finance) Extra Finance is a community-driven leveraged yield farming (LYF) and lending protocol built on Optimism. Extra Finance enables users to farm a diverse range of farming pools on Velodrome and other Dexes. Users can customize their farming strategies with options like re-investing, market-neutral, and long/short farming strategies. In addition to LYF, Extra Finance also functions as a lending protocol. Users can deposit funds into its lending pools to earn interest on their deposited assets. This feature provides users with a way to earn passive income. chevron-right**Who is behind Extra Finance?**[hashtag](https://docs.extrafi.io/extra_finance/faq#who-is-behind-extra-finance) The core development team comprises experienced professionals with solid finance and software development backgrounds, particularly in native DeFi protocols. **Dev Team:** Ceylon Phoker - Product Manager, discord: Ceylon Phoker#1051 Ben - Contract Dev, discord: Ben Satoshi#8308 Martin White - Full-stack developer, discord: Martin White#1864 Karman - Front-end Dev, discord: Karman#9912 **Operation Team:** Cecilia - Operation & Community Manager, discord: Cecilia\_ExtraFi#5880 Scarlett - BD & Operation Manager, discord: ScarlettEF#4928 Eeight - Community Manager & Ecosystem Relationship, discord: ExtraE8#5481 chevron-right**Security designs in your smart contract?**[hashtag](https://docs.extrafi.io/extra_finance/faq#security-designs-in-your-smart-contract) **Constrained** **Admin Access** * No fund withdrawal function is reserved for admin in smart contracts. * Multi-sig authentication is implemented for contract configurations, such as parameters like protocol fee, liquidation threshold, reserve rate, etc. * Upgrades on contract configurations are subject to a governance process, which includes a set of procedures and guidelines. This process involves multiple levels of review and approval from various stakeholders and serves to ensure transparency and consistency in managing changes to contract configurations. **Price Protection** * The Time-Weighted Average Price (TWAP) model is implemented in Extra Finance's smart contract to safeguard against abnormal price fluctuations and potential malicious price manipulation. chevron-right**Is Extra Finance audited?**[hashtag](https://docs.extrafi.io/extra_finance/faq#is-extra-finance-audited) * Yes, Extra Finance is audited by Blocksec and PeckShield. The reports can be found [here](https://docs.extrafi.io/extra_finance/audits-and-security) . * Extra Finance runs a bug bounty program on ImmuneFi that rewards whitehats for reporting valid vulnerabilities in our code. You can find further information on this program [herearrow-up-right](https://immunefi.com/bounty/extrafinance/) . chevron-right**Is Extra Finance open-sourced or not?**[hashtag](https://docs.extrafi.io/extra_finance/faq#is-extra-finance-open-sourced-or-not) The smart contract of ExtraFi is now partially open-sourced and verified on Etherscan, which can be tracked here, and Extra Finance is continuously working on transparency. [https://optimistic.etherscan.io/address/0xf9cfb8a62f50e10adde5aa888b44cf01c5957055#codearrow-up-right](https://optimistic.etherscan.io/address/0xf9cfb8a62f50e10adde5aa888b44cf01c5957055#code) [https://optimistic.etherscan.io/address/0xbb505c54d71e9e599cb8435b4f0ceec05fc71cbd#codearrow-up-right](https://optimistic.etherscan.io/address/0xbb505c54d71e9e599cb8435b4f0ceec05fc71cbd#code) (Update: Newly open-sourced code on Jul 2023) [https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8#code arrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8#code) [https://optimistic.etherscan.io/address/0xb7d8613728efcfbb18bcd63deec06f64441d322a#code arrow-up-right](https://optimistic.etherscan.io/address/0xb7d8613728efcfbb18bcd63deec06f64441d322a#code) [https://optimistic.etherscan.io/address/0xe0bec4f45aef64cec9dcb9010d4beffb13e91466#codearrow-up-right](https://optimistic.etherscan.io/address/0xe0bec4f45aef64cec9dcb9010d4beffb13e91466#code) (More in the schedule along with additional audits and bug bounties) chevron-right**If I farm/lend on Extra Finance, where is my asset exactly kept?**[hashtag](https://docs.extrafi.io/extra_finance/faq#if-i-farm-lend-on-extra-finance-where-is-my-asset-exactly-kept) Extra Finance ensures that **users have complete control over their assets** when they open a farming or lending position. The assets remain in the user's control in the smart contract. Neither the dev team nor any third-party protocols can access, freeze, or transfer them. In addition, users' assets are not deposited into any third-party lending protocols. chevron-right**How can I gain $EXTRA token on your platform?**[hashtag](https://docs.extrafi.io/extra_finance/faq#how-can-i-gain-usdextra-token-on-your-platform) We will incentivize lending pools on Extra Finance with our native governance token at the mainnet launch. Details about our emission plan could be found on our [_blog_arrow-up-right](https://medium.com/@ExtraFinance) or [_Twitter_arrow-up-right](https://twitter.com/ExtraFi_io) . Detailed tokenomics of Extra Finance can be found [_here_](https://docs.extrafi.io/extra_finance/tokenomics/introduction-to-tokenomics-v2) . chevron-right**What is the frequency of re-investment (or auto-compounding) for farming positions?**[hashtag](https://docs.extrafi.io/extra_finance/faq#what-is-the-frequency-of-re-investment-or-auto-compounding-for-farming-positions) ExtraFi has an exclusive **real-time re-investment mechanism:** * Each transaction made on ExtraFi triggers auto re-investment. * In addition, off-chain bots trigger re-investment every 1-2 hours, guaranteeing that re-investment always takes place. chevron-right**Why is the 'PnL' greater or smaller than the value of 'Farmed'?**[hashtag](https://docs.extrafi.io/extra_finance/faq#why-is-the-pnl-greater-or-smaller-than-the-value-of-farmed) The 'PnL' (Profit and Loss) can be greater or smaller than the value of 'Farmed' due to various factors. Here are some reasons: 1. Impermanent Loss: Impermanent loss occurs when the value of the underlying assets in a liquidity pool changes relative to the value of the same assets held outside the pool. If the impermanent loss is significant, it can result in a lower 'PnL' compared to the 'Farmed' value. 2. Price Variation of Underlying Asset(s): The 'PnL' is influenced by the price movement of the underlying asset(s) in the farming position. 3. Borrowing Interest: If you have borrowed assets (leveraged) to participate in the farming position, the interest you need to pay on the borrowed assets will reduce your 'PnL' compared to the 'Farmed' value. 4. Swap Cost: The 'swap cost' refers to the fees charged by DEX and potential slippage when converting your initial deposit into LP tokens. These costs are subtracted from the 'Farmed' value to calculate the 'PnL', so they can impact the final result. chevron-right**All information about EXTRA**[hashtag](https://docs.extrafi.io/extra_finance/faq#all-information-about-extra) **How to get EXTRA?** * Through lending emissions on [https://app.extrafi.io/lendarrow-up-right](https://app.extrafi.io/lend) * Keep an eye on our recent campaigns: [https://medium.com/@ExtraFinancearrow-up-right](https://medium.com/@ExtraFinance) * Swap on Velodrome: [https://velodrome.finance/swap?from=0x7f5c764cbc14f9669b88837ca1490cca17c31607&to=0x2dad3a13ef0c6366220f989157009e501e7938f8arrow-up-right](https://velodrome.finance/swap?from=0x7f5c764cbc14f9669b88837ca1490cca17c31607&to=0x2dad3a13ef0c6366220f989157009e501e7938f8) **How to track the Price / MarketCap / Circulating Supply of EXTRA?** * Coingecko [https://www.coingecko.com/en/coins/extra-financearrow-up-right](https://www.coingecko.com/en/coins/extra-finance) * Geckoterminal [https://www.geckoterminal.com/optimism/pools/0x477fa18b063b7728409570d274f7a055e3da0d6earrow-up-right](https://www.geckoterminal.com/optimism/pools/0x477fa18b063b7728409570d274f7a055e3da0d6e) **ERC20 Address of EXTRA?**[https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8arrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8) **Where is EXTRA listed?** * [Velodromearrow-up-right](https://app.velodrome.finance/) * No CEX has been officially listed yet **What is veEXTRA and what's the utility of veEXTRA?** **👉** [ve-Mechanism & Utility](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility) chevron-right**What does ‘100 or 1000(premium) USDC available’ mean in each farming pool?**[hashtag](https://docs.extrafi.io/extra_finance/faq#what-does-100-or-1000-premium-usdc-available-mean-in-each-farming-pool) Taking the USDC-EXTRA pool as an example, it displays ‘196K or 840K(premium) EXTRA available’: 1. ‘196K EXTRA available’ means that for users without holding 10k veEXTRA, there are 196K EXTRA available to borrow for opening a leverage position. 2. ‘840K(premium) EXTRA available" means that for users holding 10k veEXTRA, there are 840K EXTRA available to borrow for opening a leverage position. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F8PoeNztxure7vFzF5r2k%252Fpremium.jpg%3Falt%3Dmedia%26token%3D9a2e56d0-53dd-40dc-a099-91da6b13ca40&width=300&dpr=3&quality=100&sign=991d7ed8&sv=2) 1. If the UI displays 'No sufficient Token available', it means that the borrowing credit for this pool has been exhausted. No one can borrow from it unless the pool's borrowing credit is increased. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FUopVzjz72C5p2gyUBYcg%252Fvelo%2520no%2520token.jpg%3Falt%3Dmedia%26token%3D6d7b06a7-8ad9-4030-ab0a-10d21f6aa4c5&width=300&dpr=3&quality=100&sign=66af010a&sv=2) chevron-right**What does ‘Credit’ mean for each asset?**[hashtag](https://docs.extrafi.io/extra_finance/faq#what-does-credit-mean-for-each-asset) Taking the EXTRA-WETH farming pool as an example, the WETH credit limit for this pool is set at 200. This is theoretically the maximum amount of WETH that can be borrowed from WETH lending pool for this farming pool. However, if there is not enough WETH in the lending pool, borrowing won't be possible. **‘WETH borrowing limit on EXTRA-WETH’** As the screenshot shows, the pool has 200 WETH borrowing credit, and 158 out of 200 WETH credit have been used. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FTE0tq9oMg5nxyTSRwO3W%252FMG714.jpg%3Falt%3Dmedia%26token%3D6ae85417-4acd-4350-aa77-42ed3e7bc2a9&width=300&dpr=3&quality=100&sign=b07b5e2&sv=2) When you hover over the bottom bar, additional Borrowing Info is visible. **‘Total Borrowed’:** The total amount of WETH borrowed from the ExtraFi lending pool [https://app.extrafi.io/lendarrow-up-right](https://app.extrafi.io/lend) . The % value in brackets indicates the current utilization of the WETH lending pool. **‘Utilization Cap’:** * ‘80%(Stable pools set at 50%)’ is for users without holding 10k veEXTRA, and they can only borrow this asset if the utilization of the lending pool is under 80%(50% for stable pools). * ‘95% with Premium’ means users with 10k veEXTRA can borrow up to a 95% utilization. (Note that the borrowing credit for each asset may be exhausted before its utilization reaches 95%.) chevron-right**How is farm APY calculated on ExtraFi?**[hashtag](https://docs.extrafi.io/extra_finance/faq#how-is-farm-apy-calculated-on-extrafi) APY\=Equity1/Equity0Equity1\=Position1−Debt1Position1\=p1+(p0+p1)/2∗aprToApy(FarmingAPR@1x,days)Debt1\=d1+(d0+d1)/2∗aprToApy(BorrowInterestRate,days)p0\=Equity0∗leveragep1\=Equity0∗leverage∗LPchanged0\=Equity0∗(leverage−1)d1\=Equity0∗(leverage−1)∗LPchangeLPchange\=token0change∗token1changetoken0change\=token0price1/token0price0token1change\=token1price1/token1price0\\large{APY = Equity\_1 / Equity\_0} \\\\ \\small Equity\_1 = Position\_1 - Debt\_1 \\\\ Position\_1 = p\_1 + (p\_0 + p\_1)/2 \* aprToApy(FarmingAPR@1x, days) \\\\ Debt\_1 = d\_1 + (d\_0 + d\_1) / 2 \* aprToApy(BorrowInterestRate, days) \\\\ p\_0 = Equity\_0 \* leverage \\\\ p\_1 = Equity\_0 \* leverage \* LPchange \\\\ d\_0 = Equity\_0 \* (leverage - 1) \\\\ d\_1 = Equity\_0 \* (leverage - 1) \* LPchange \\\\ LPchange = \\sqrt{token0change \* token1change} \\\\ token0change = token0price\_1 / token0price\_0 \\\\ token1change = token1price\_1 / token1price\_0 \\\\APY\=Equity1​/Equity0​Equity1​\=Position1​−Debt1​Position1​\=p1​+(p0​+p1​)/2∗aprToApy(FarmingAPR@1x,days)Debt1​\=d1​+(d0​+d1​)/2∗aprToApy(BorrowInterestRate,days)p0​\=Equity0​∗leveragep1​\=Equity0​∗leverage∗LPchanged0​\=Equity0​∗(leverage−1)d1​\=Equity0​∗(leverage−1)∗LPchangeLPchange\=token0change∗token1change​token0change\=token0price1​/token0price0​token1change\=token1price1​/token1price0​ _\*. calculation of APR to APY:_ [_https://www.aprtoapy.com_arrow-up-right](https://www.aprtoapy.com/) [PreviousBridge EXTRAchevron-left](https://docs.extrafi.io/extra_finance/bridge-extra) [NextIntroduction to Leveraged Yield Farmingchevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming) Last updated 1 year ago --- # Academy | Extra Finance 🏫 Learn how to better use Extra Finance with a series of educational articles. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FeSwV0djnBJx1Pp3EU15B%252Ffunction%2520%2520update%2520%284%29.png%3Falt%3Dmedia%26token%3De96fdf62-bd94-4f18-b6b4-d4feb9d9e73e&width=768&dpr=3&quality=100&sign=f8e0fb54&sv=2) [PreviousContracts & Transparencychevron-left](https://docs.extrafi.io/extra_finance/contracts-and-transparency) [NextThoroughly understand a farming positionchevron-right](https://docs.extrafi.io/extra_finance/academy/thoroughly-understand-a-farming-position) Last updated 1 year ago --- # Welcome to Extra Finance | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FCa9YpzuWnair03FCruET%252FDocumentation.png%3Falt%3Dmedia%26token%3Ddc001948-b744-4f0b-99e7-de0c8e7b329d&width=768&dpr=3&quality=100&sign=81293d3b&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance#what-is-extra-finance-extrafi_io) What is Extra Finance (🐦 [@ExtraFi\_ioarrow-up-right](https://twitter.com/ExtraFi_io) ) Extra Finance is a leveraged yield farming (LYF) protocol built within the Superchain ecosystem. Extra Finance enables users to farm diverse farming pools with customized farming strategies. Extra Finance also functions as a lending protocol, users can deposit funds to earn lending interest. circle-info Users of [Extrafi XLendarrow-up-right](https://xlend.extrafi.io/) , please visit the [docsarrow-up-right](https://docs.extrafi.io/extrafi-xlend) here. #### [hashtag](https://docs.extrafi.io/extra_finance#core-features) **Core Features:** 1) Flexible & powerful leveraged liquidity providing * Users could tailor their farming strategies through options such as re-investing, [market-neutral](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy) , or farming with a long/short viewpoint. * Users can choose any paired asset to deposit, or borrow a customized ratio of the paired asset to implement a leveraged strategy. A real-time position simulation will be shown accordingly. 2) Lend to earn passive income Users can deposit assets into lending pools to earn interest on their deposited assets. It provides users with a way to earn passive income. 3) Stablecoin & LST Optimized leveraged yield farming By implementing a new [interest rate model](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) , the protocol will serve as an innovative platform to optimize earnings by minimizing borrowing costs and reducing interest rate fluctuations. circle-info Extra Finance is [audited](https://docs.extrafi.io/extra_finance/audits-and-security) by BlockSec, Sherlock and PeckShield. ### [hashtag](https://docs.extrafi.io/extra_finance#get-started) Get Started [](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/open-a-farming-position) ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FzAddDLIGM72pMOQbWX5A%252F3x.png%3Falt%3Dmedia%26token%3Dabfaf029-f7f6-4c98-999e-764ca683186e&width=490&dpr=3&quality=100&sign=11fe09c5&sv=2) Farming Tutorial [](https://docs.extrafi.io/extra_finance/lending/how-to-use) ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FBXcwArtqEfGQvkRxoyN5%252F4x.png%3Falt%3Dmedia%26token%3De5da5552-5580-48af-918e-27a757afa28e&width=490&dpr=3&quality=100&sign=be279cbc&sv=2) Lending Tutorial [](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking/how-to-stake-to-veextra) ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FaUAJd30bQnOtu6W7qeO6%252Fimage%2520%281%29.png%3Falt%3Dmedia%26token%3D32775ad8-0b5c-4b72-85af-a5ddf073fdfb&width=490&dpr=3&quality=100&sign=a8a79fe5&sv=2) Staking Tutorial [](https://medium.com/@ExtraFinance) ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FX6rEoeiTnWOo7eTat8cx%252F6x.webp%3Falt%3Dmedia%26token%3Dd4b63c5e-e363-47a7-8b1d-fb71e622625e&width=490&dpr=3&quality=100&sign=c94d0e9&sv=2) Blog - Events Ongoing! ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FiSdwz0pFYUfzfc2NwksK%252Fcover.png%3Falt%3Dmedia%26token%3Df33c2f13-10b5-450f-9f94-4102131f8d91&width=490&dpr=3&quality=100&sign=41233ebc&sv=2) Knowledge Base [](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) ![Cover](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fyc635s4k2TXjRPeSKNnQ%252Fimage.png%3Falt%3Dmedia%26token%3Dc4225f92-6f72-4d29-93d0-00184cc74463&width=490&dpr=3&quality=100&sign=e678e00&sv=2) Interest Rate Models ### [hashtag](https://docs.extrafi.io/extra_finance#how-extra-finance-works) How Extra Finance Works Detailed workflow is explained [here](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works) . ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FmIWgv58JnOdntBMJ7lHq%252FHow%2520Extra%2520Finance%2520Works.png%3Falt%3Dmedia%26token%3D0333efdd-ad2f-4814-b6f9-00aa2620ece4&width=768&dpr=3&quality=100&sign=3b0ae04d&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance#support) Support Discord: [https://discord.extrafi.ioarrow-up-right](https://discord.extrafi.io/) Email: [\[email protected\]](https://docs.extrafi.io/cdn-cgi/l/email-protection) Twitter: [https://twitter.com/extrafi\_ioarrow-up-right](https://twitter.com/extrafi_io) [NextOverviewchevron-right](https://docs.extrafi.io/extra_finance/overview) Last updated 9 months ago * [What is Extra Finance (🐦 @ExtraFi\_io)](https://docs.extrafi.io/extra_finance#what-is-extra-finance-extrafi_io) * [Get Started](https://docs.extrafi.io/extra_finance#get-started) * [How Extra Finance Works](https://docs.extrafi.io/extra_finance#how-extra-finance-works) * [Support](https://docs.extrafi.io/extra_finance#support) --- # Getting Started | Extra Finance Please note that some native ETH tokens are required to pay for gas on [Optimism Networkarrow-up-right](https://www.optimism.io/) . Make sure to always keep some ETH in your wallet. * Official Bridge - Bridge ETH from Ethereum Mainnet to Optimism: [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fapp.optimism.io%2FFavicon.png&width=20&dpr=3&quality=100&sign=f0b0c16b&sv=2)Optimism is building a Superchain.app.optimism.iochevron-right](https://app.optimism.io/bridge/) **Wallet Setup** Extra Finance is a native DeFi protocol on [Optimismarrow-up-right](https://www.optimism.io/) , a lot of Web3 wallets can be configured for use within the Optimism ecosystem. We currently support the most widely used wallets, including: * [MetaMaskarrow-up-right](https://metamask.io/) (and its fully compatible wallets including [Trust Wallet,arrow-up-right](https://trustwallet.com/) [ImTokenarrow-up-right](https://token.im/) , etc.) * [Coinbase Walletarrow-up-right](https://www.coinbase.com/wallet) * [WalletConnectarrow-up-right](https://walletconnect.com/) Extra Finance also support Multi-Sig Wallets like [Safe APParrow-up-right](https://app.safe.global/welcome) . Please find guides below for the wallet options mentioned above: [MetaMask](https://docs.extrafi.io/extra_finance/getting-started/metamask) [PreviousOverviewchevron-left](https://docs.extrafi.io/extra_finance/overview) [NextMetaMaskchevron-right](https://docs.extrafi.io/extra_finance/getting-started/metamask) Last updated 1 year ago --- # Extra Finance Deep Dive | Extra Finance Published in [Vesper Financearrow-up-right](https://medium.com/vesperfinance/extra-finance-deep-dive-9413d2b8f505) . ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FqsEuNibxf7YLWMIBMRfD%252Fextrafi.webp%3Falt%3Dmedia%26token%3D768e735e-1413-42c7-a4d5-63223ac12f84&width=768&dpr=3&quality=100&sign=1d707024&sv=2) _Source:_ [_Vesper Finance_arrow-up-right](https://medium.com/vesperfinance/extra-finance-deep-dive-9413d2b8f505) _Extra Finance is a leverage yield farming protocol built on Optimism._ [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#ac90) Overview --------------------------------------------------------------------------------------------------- [What Is Extra Finance?](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#7f8f) [How Does It Work?](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#1cfd) [Leverage Yield Farming](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#9d46) [Extra Finance](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#5a05) [Tokenomics](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#5edc) [Summary](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#9530) [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-7f8f) What Is Extra Finance? -------------------------------------------------------------------------------------------------------------------- [Extra Financearrow-up-right](https://app.extrafi.io/farm) , driven by its community, aims to give users a way to dive into leveraged yield farming through different pools on Optimism. They are able to pull this off using applications such as [Velodromearrow-up-right](https://velodrome.finance/) , a DEX, and liquidity protocol. Users get to pick their style — whether that’s reinvesting, staying neutral, or engaging in long/short farming. And with the option to boost their positions at least up to 3x leverage (or more depending on the pool), they can tweak their strategies to fit their comfort level. On top of that, Extra Finance also acts as a lending protocol. Users can drop funds into their lending pools and earn some interest on the side, creating more opportunities for passive income. [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-1cfd) How Does It Work? --------------------------------------------------------------------------------------------------------------- To get how Extra Finance works, let’s first break down what leverage yield farming (LYF) really means and why it’s an essential component of their protocol. [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-9d46) Leverage Yield Farming -------------------------------------------------------------------------------------------------------------------- LYF is like a boost button for users wanting to up their returns in a liquidity pool. It works through funds getting used as collateral to borrow different types of stable and non-stable coins. This can then be used to buy more tokens, which are then thrown into the pool, increasing the overall value. This bumps up the returns that go back to the user. It’s a popular DeFi strategy to get the most out of your capital without requiring additional collateral. This way, you can really stretch your assets from that boosted position. But, like all things that involve capital, there’s a catch. With LYF, there’s the danger of your assets getting liquidated to cover any debts (since you’re borrowing to get that higher APY). Plus, there could also be impermanent loss. Picture holding two assets on a DEX, like a crypto and a stablecoin. If the crypto’s price drops compared to the stablecoin, you could face a loss from that price gap. [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-5a05) Extra Finance ----------------------------------------------------------------------------------------------------------- As mentioned above, on Extra Finance, users have the opportunity to increase their potential returns through leveraged farming on pairs such as ETH-USDC. To jumpstart this process, you will first need to deposit collateral, which might include assets such as USDC, ETH, or even a mix of both (Extra Finance supports single or dual assets as collateral). Following this, you can select the desired leverage level. This choice is tailored to each user’s individual risk appetite. Given its design, Extra Finance offers a range of leverage ratios, adjusted based on the risk associated with the underlying liquidity pools. After setting the leverage, Extra Finance swaps the assets — those you own and those you’ve borrowed — into the right ratio for the AMM to accept. This swapping is an automated process, ensuring that assets are routed in the most efficient way. Furthermore, you can simplify this process by utilizing one-click farming templates (long/short/neutral). Regardless of how you customize your farming position, you can always use the yield farming simulator to view the estimated amount you will earn before opening a position. Once your position is locked in, the farming rewards will start to pour in. Rather than the traditional manual claim process, Extra Finance proactively reinvests your rewards. This approach means the rewards get consistently channeled back as LP tokens, which keeps bumping up the yield rate and optimizes returns. Lastly, APR/APY is determined by comparing the farming APR of your selected pair with the borrowing interest. This leveraging approach can amp up the effective APR, which in turn shapes the corresponding APY, taking into account regular compounding intervals. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FWSlDPBPQtFbwZEyySb1j%252FHow%2520LF%2520works%2520on%2520ExtraFi.png%3Falt%3Dmedia%26token%3D6d859d15-7f15-4c03-bc21-7d383a5b1934&width=768&dpr=3&quality=100&sign=f97cbbdf&sv=2) _How LYF Works on Extra Finance_ [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-5edc) Tokenomics -------------------------------------------------------------------------------------------------------- Within Extra Finance lies their token, EXTRA, which can be locked in exchange for veEXTRA (their governance token). Earning EXTRA is straightforward and only requires users to contribute liquidity and, in turn, receive rewards through emissions. But there’s a way to boost these rewards. By choosing to lock in their EXTRA tokens, users can obtain veEXTRA, a concept known as vote escrow. If this sounds familiar, it’s because the idea was popularized by Curve Finance. This vote-escrowed period can stretch up to a full year, or 52 weeks. The dynamics of it are linear: locking 100 EXTRA for the maximum period yields 100 veEXTRA, whereas doing so for a quarter of that time, say 13 weeks, results in 25 veEXTRA. The essence is that longer lock-ins translate directly to higher voting power. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FW7SLPtxliYYgIWAItg1M%252FveEXTRA.png%3Falt%3Dmedia%26token%3D1d21fe8b-9779-40e3-a463-e03c91ae8155&width=768&dpr=3&quality=100&sign=17dda9f3&sv=2) _veEXTRA Tokenomic Model_ However, owning veEXTRA isn’t just about voting power, it’s also a ticket to more perks. Holders can gain access to increased leverage options up to 5x in select yield farming pools, front-of-the-line access to high-demand lending pools, and a sneak peek into upcoming features (including access to strategy vaults). But, at its core, veEXTRA encompasses governance, enabling holders to help shape Extra Finance’s future by voting on community proposals. Rewards-wise, APR comes from two places: protocol fees and the EXTRA token incentives. The protocol fee gathers various tokens into the treasury, which are then used to buy back EXTRA tokens from the market and handed out to those holding veEXTRA. _There’s also a chunk of EXTRA tokens meant for the community that gets directed to veEXTRA holders in the future._ [hashtag](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-9530) Summary ----------------------------------------------------------------------------------------------------- Extra Finance offers a specialized experience for DeFi users on Optimism, focusing primarily on leveraged yield farming. Through applications like Velodrome, it provides varied strategies from reinvesting to long/short farming. And please be well noticed that leveraged products involve significant risks due to their inherent nature, please use it at your own discretion. Regarding their tokens, EXTRA and veEXTRA help further enhance the experience. By locking EXTRA, users not only increase their rewards but also gain a say in the protocol’s direction. The reward structure, rooted in protocol fees and token incentives, ensures that holding veEXTRA is both lucrative and influential. [PreviousPseudo Delta Neutral (PDN) Farming Strategychevron-left](https://docs.extrafi.io/extra_finance/academy/pseudo-delta-neutral-pdn-farming-strategy) [NextBridge EXTRAchevron-right](https://docs.extrafi.io/extra_finance/bridge-extra) Last updated 1 year ago * [Overview](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#ac90) * [What Is Extra Finance?](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-7f8f) * [How Does It Work?](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-1cfd) * [Leverage Yield Farming](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-9d46) * [Extra Finance](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-5a05) * [Tokenomics](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-5edc) * [Summary](https://docs.extrafi.io/extra_finance/academy/extra-finance-deep-dive#id-9530) --- # How Extra Finance Works | Extra Finance Intro to Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#id-4931) **Leverage Farming Workflow** Let’s consider the example of Alice, who wants to open a 3x leveraged farming position on $ETH/$USDC to take advantage of the high yield rate. Here’s how she can proceed: 1. Alice needs to provide collateral, such as 100 $USDC, to borrow more from the lending pool and leverage her position. Extra Finance allows users to provide single or dual assets as collateral, so Alice can choose to provide either $USDC or $ETH, or both. 2. Alice selects the leverage factor she wants to apply. Extra Finance offers leverage ratios like 3x and higher, depending on the risk level of the underlying pools. The assets provided by Alice, along with the borrowed assets, are swapped into an appropriate ratio for the automated market maker (AMM) to accept and mint LP tokens. The swap(or ZAP) process is handled automatically by the protocol with the best route, and Alice’s position starts generating farming rewards. 3. Where do the rewards go? On Extra Finance, **reward emissions are automatically converted and reinvested into LP tokens**, maximizing the yield rate. Instead of having a separate claim button, the protocol periodically collects the rewards, leading to a continuous increase in the amount of LP tokens held by the user. 4. And finally, how is APR/APY calculated? If the farming APR of $ETH/$USDC on Velodrome is 20% and the borrowing interest of $ETH is 8%, then the APR of 3x leverage farming position = (20% \* 3) - (8% \* 2) = 44%, and the corresponding APY is around 54.05%! (under a monthly compound frequency) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FBudqkiHWUL45p3Dbi31J%252FHow%2520Extra%2520Finance%2520Works.png%3Falt%3Dmedia%26token%3D28c86ecc-adc9-45c8-a6b7-74f04a868424&width=768&dpr=3&quality=100&sign=2a3479d6&sv=2) **Benefits** Leverage farming and lending on Extra Finance offers several advantages: * **Liquidity providers enjoy a multiplied APR.** And users could implement different strategies (like long/short or delta-neutral farming) by borrowing different assets to leverage. * **High APR for Lending.** As there are at least one related farming pools that frequently borrow assets from the corresponding lending pools, it results in higher lending interest and utilization compared to typical lending protocols - these assets are in constant demand. * **Amplify low-risk yield for stable & LST assets.** Leveraged farming amplifies the low-risk stable pool farming performance. For stable pools like the $USD+/$DOLA or wstETH/WETH, as long as the paired assets remain pegged, the risk of liquidation is relatively low. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#id-0f90) Risks to Be Aware Of While Extra Finance helps yield farmers amplify their yield rate, users should be aware of the following risks: 1. Impermanent Loss: Farmers must understand the concept of impermanent loss, which occurs when the price of one token in the liquidity-providing position fluctuates compared to another token. The greater the difference, the higher the vulnerability to impermanent loss, resulting in less valuable assets upon withdrawal. 2. Liquidation: If the debt ratio (debt value/position value) of a farm exceeds the liquidation threshold, the position will be liquidated. This means that borrowed funds will be returned to the lender, and any remaining portion will be returned to the user. It is crucial to monitor the debt ratio and ensure it stays within safe levels to avoid liquidation. In the case of stable pools, as both paired assets are stablecoins/LST assets, the chances of liquidation are lower. However, in the event of a de-peg between the two assets, liquidation could theoretically occur. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#summary) Summary By understanding how leveraged yield farming works on Extra Finance and considering the associated risks, users can make informed decisions to maximize their earnings. Leveraging a stable pool like $ETH/$USDC can provide attractive yield rates while depositing assets in the Lending Pool allows for steady passive income through lending interest. It is important to carefully assess the risks, such as impermanent loss and liquidation, and actively manage one’s positions to mitigate potential drawbacks and ensure a successful farming experience. [PreviousIntroduction to Leveraged Yield Farmingchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming) [NextHow to usechevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use) Last updated 1 year ago * [Leverage Farming Workflow](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#id-4931) * [Risks to Be Aware Of](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#id-0f90) * [Summary](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works#summary) --- # How to use | Extra Finance Opening a leveraged farming position on Extra Finance is a straightforward and user-friendly process. When opening a position, users have the flexibility to deposit one or two underlying tokens of the liquidity pool. If the ratio of the deposited tokens is not equivalent, the position opening logic in the smart contract will automatically swap the excess token for another. Check out the tutorials on how to open/close a position on Extra Finance: [Open a Farming Position](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/open-a-farming-position) [Close a Farming Position](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/close-a-farming-position) [PreviousHow Extra Finance Workschevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works) [NextOpen a Farming Positionchevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/open-a-farming-position) Last updated 1 year ago --- # Introduction to Leveraged Yield Farming | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOpRUeYe0NK27bUW9JJG9%252Fextrafi%2520%285%29.png%3Falt%3Dmedia%26token%3D38885555-4455-463c-b783-29d91001636a&width=768&dpr=3&quality=100&sign=48563a30&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#what-is-leveraged-yield-farming) **What is Leveraged Yield Farming?** **Leveraged Yield Farming (LYF)** is a key feature of Extra Finance, which allows users to amplify their returns on investments by borrowing additional funds to invest in a liquidity pool. This is achieved by using the funds as collateral to borrow stable/non-stable coins, which are then used to purchase additional tokens. These tokens are then added to the liquidity pool, increasing the overall value of the pool and providing additional returns to the user. Practically, LYF is one of the most efficient ways to maximize your capital efficiency. It requires no additional asset as collateral, which means you can enjoy the full earning amplification from the leverage. And also, a well-designed LYF strategy can greatly reduce the effect of impermanent loss (IL). ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#example-from-luca) **Example from Luca** To make those points clear, let’s take an example: Luca has $1000 ETH and $1000 USDC. He deposit and stake those tokens into the ETH-USDC pool to enjoy a 20% APR liquidity farming return. However, he is not satisfied with a 20% return regarding long-term volatility. So he starts to reinvest his earning interest into the pool. The reinvesting can help boost the 20% APR to reach a maximal …… **22.1%** APY (The formula for an upper limit of compound APY is eAPR−1e^{APR}-1eAPR−1, ignoring the gas fee and taking the reinvest interval to be very short). This looks bad, if you also take the gas fee into account (and the rising energy fee to charge your laptop), you might even end up with a lower than 20% APR. So, how can we help poor Luca? Right, with LYF. Now Luca finds a protocol called Extra Finance and starts to play with it. He opens a **3x** leverage position (with $2000 ETH and $2000 USDC borrowed) and invests in the same pool. Let’s take the effective borrowing interest rate as 5%, the total APR now is 3\*(20%)-2\*(5%) = 50%. And the compound APY will reach **64.8%**! A huge difference, right? (Boring math here. To be rigorous, the ideal compound APY can be calculated by the following formula: APY\=el×APR−b−g−1APY=e^{l\\times APR-b-g}-1APY\=el×APR−b−g−1 where we label lll as leverage ratio, bbb as borrowing interests against initial value, ggg as the ratio of gas fee against initial value, and eee is the Euler’s number.) Now Luca is happy with the APY, but another issue begins to bother him — the infamous impermanent loss (IL). With 3x leverage, not only the return but also the potential IL will be larger. IL is a long-standing problem with AMM, many tried to solve but yet no perfect solution. However, with LYF and a smart strategy, you can actually turn this disadvantage into an advantage. Luca predicts the price of ETH will keep rising in the next three months (this Luca is smart), so instead of borrowing the equal value of two assets ($2000 ETH and $2000 USDC), he decides to remain the same leverage rate (3x) but only borrow USDC ($4000 USDC). Why is that? Because borrowing more USDC than ETH is actually creating a long position of ETH! (Boring math again. In Luca’s case (initially with an equal amount of both assets), the ideal long profit rate with LYF can be calculated by the following formula: Long\=lpp0−(l−1) Long=l\\sqrt{\\frac{p}{p\_0}}-(l-1)Long\=lp0​p​​−(l−1) where we label ppp as the current price of ETH and p0p\_0p0​ as the initial price when opening position.) What advantages does Luca’s strategy provide? 1. it greatly compensates the IL loss on both side (no matter whether prices rise or drops) and 2. it outperforms the others at a large price range. Apart from Luca’s strategy, there are much more possibilities to customize the return curve with LYF. With different leverage rates and borrowing combinations, a LYF position can be created to adjust any market condition. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#what-can-extra-finance-help) **What can Extra Finance help?** Extra Finance makes LYF easy to access for everyone. It allows users to farm up to 3x leverage, providing users with the ability to maximize their returns in a safe and secure manner. The platform also offers a variety of liquidity pools to choose from, and various strategy combinations to reach your earning goal. **Note:** _Leveraged yield farming can be risky, as it involves borrowing funds to invest in a volatile market. Users should conduct thorough research before making any investment decisions._ [PreviousFAQchevron-left](https://docs.extrafi.io/extra_finance/faq) [NextHow Extra Finance Workschevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works) Last updated 1 year ago * [What is Leveraged Yield Farming?](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#what-is-leveraged-yield-farming) * [Example from Luca](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#example-from-luca) * [What can Extra Finance help?](https://docs.extrafi.io/extra_finance/leverage-farming/introduction-to-leveraged-yield-farming#what-can-extra-finance-help) --- # Close a Farming Position | Extra Finance **To fully/partially withdraw from a farming position, simply follow the steps below**: (Please note that when you open a position, it can't be closed right away. You'll need to hold onto it for at least 5 minutes before you can close it.) Video Tutorial: Text Tutorial: 1. Click on the “**Close**” button on the position you’d like to close ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FdSnvBOAGiRINZxARSxYd%252F1683636841783.png%3Falt%3Dmedia%26token%3D5573dcf1-2366-4411-a115-9e709600f14a&width=768&dpr=3&quality=100&sign=bbbc2115&sv=2) 1. **Partial Close:** you have the option to either fully close the position or partially close it. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FvH96lZYoCUG3cyLiEfZw%252F1683626653596.png%3Falt%3Dmedia%26token%3D390bc102-7393-40ba-82b6-ee0805304f4e&width=768&dpr=3&quality=100&sign=408b1a7f&sv=2) 1. **Minimize Trading:** this will have your position closed with the minimum required tokens to repay the debt. You will receive the remaining assets and could save on slippage and trading fees. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F7RNefsrg2IqQM3bzOiiw%252F1684484604750.png%3Falt%3Dmedia%26token%3Dcf6edced-f3ff-4f69-97ee-c31f928d085d&width=768&dpr=3&quality=100&sign=bb0f841c&sv=2) 1. **Covert to Assets:** If you choose this option, your position will be closed out and converted into the asset of your choice. The value of your position will be converted and returned to you after the debt is paid. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F8244byI9lIJwkf05Tlop%252F1684484546005.png%3Falt%3Dmedia%26token%3D3a97859a-7e98-4f3d-b57a-b94cc486f695&width=768&dpr=3&quality=100&sign=6870f79d&sv=2) [PreviousOpen a Farming Positionchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/open-a-farming-position) [NextStrategychevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/strategy) Last updated 2 years ago --- # Intro to Leveraged Yield Farming - Long Strategy | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FrZCAMcY1LW2FQMdwJcaY%252FTwitter%2520post%2520-%2520114.png%3Falt%3Dmedia%26token%3D15271873-8f65-4470-9d05-9a273d53a6d6&width=768&dpr=3&quality=100&sign=cd37ad38&sv=2) A long strategy involves buying an asset with the expectation that its value will increase over time. It can be combined with LYF, offering a potential solution to the long-standing problem of Impermanent Loss (IL). In traditional AMM, liquidity providers are exposed to IL when the price ratio of tokens in the selected trading pair fluctuates. The loss is amplified when prices drop and earning is reduced when prices rise. However, in LYF, an initial long exposure can be established by borrowing specific assets. For instance, let's take the case of Luca, who initially holds $1000 USDC and has a bullish outlook on $OP. Luca can create a 3x long LYF position on the OP/USDC trading pair. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FNkdDLKZjsDPtHtIhG7JL%252Fimage.png%3Falt%3Dmedia%26token%3D3712eef7-815e-490d-b977-08742d5d16ad&width=768&dpr=3&quality=100&sign=47fa733d&sv=2) As a result, $2000 USDC will be borrowed from the lending pool and $1500 of which will be automatically converted into OP. Subsequently, these $1500 OP and $500 USDC will be paired with Luca's initial $1000 USDC, forming the LP token. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FIbVjrtUosPh3d36VA5QN%252Fimage.png%3Falt%3Dmedia%26token%3Df6372c32-a9de-409a-9657-df84d9aace30&width=768&dpr=3&quality=100&sign=6083239b&sv=2) Luca will receive two parts of the profits: 1. the 3x amplified APR (the actual APY will be higher than 3x) 2. if the price of OP rises, Luca will earn the excess amount to the value he borrowed. When OP price rises 50%, Luca will earn $674 USDC + the APY in total. In short, to maximize earnings in a bullish market, long LYF should be your 1st option. However, just like any other long strategy, it carries a higher risk when the price drops. Do your own research and invest wisely. Related post: [https://twitter.com/ExtraFi\_io/status/1679082817035341826arrow-up-right](https://twitter.com/ExtraFi_io/status/1679082817035341826) [PreviousIntro to Leveraged Yield Farming - Overallchevron-left](https://docs.extrafi.io/extra_finance/academy/intro-to-leveraged-yield-farming-overall) [NextPseudo Delta Neutral (PDN) Farming Strategychevron-right](https://docs.extrafi.io/extra_finance/academy/pseudo-delta-neutral-pdn-farming-strategy) Last updated 2 years ago --- # Open a Farming Position | Extra Finance **To open a farming position, simply follow the steps below:** Video Tutorial: Text Tutorial: 1. Visit [Extra Finance’s farm pagearrow-up-right](https://app.extrafi.io/farm) 2. Connect to your Web3 wallet (such as [MetaMask](https://docs.extrafi.io/extra_finance/getting-started/metamask) . Please ensure that you have a sufficient amount of ETH to cover on-chain gas fees. These fees will be charged by the Optimism chain. ExtraFi still maintains 0.00 gas for in-app transactions) 3. Select an available farming pool that you’d like to farm and click on “**Farm**” ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F0wX93vAsOg0SOkCcqWvd%252F1683618293655.png%3Falt%3Dmedia%26token%3D0868f9b1-051e-43dd-9e97-534ee19bf1a3&width=768&dpr=3&quality=100&sign=ac961b23&sv=2) 1. Supply either one of the assets or both assets you’d like to invest(Note that the minimum asset value required for farming is $10 or equivalent) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FVm4Qb5fMIw7JEC2x1fjo%252F1683523588133.png%3Falt%3Dmedia%26token%3D78977070-03cc-4b4c-a868-056eeeba2bb1&width=768&dpr=3&quality=100&sign=e6933ca2&sv=2) 1. Set the leverage and specify the assets to borrow(One-click farming templates can also be selected) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FNB620s8E9czOeS5Bh8MT%252F1683523684937.png%3Falt%3Dmedia%26token%3D5670387b-a88c-4285-94e9-ee03662f546f&width=768&dpr=3&quality=100&sign=b0dbf9df&sv=2) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FdjrrPi0IVt1JsqKYos8p%252Fimage.png%3Falt%3Dmedia%26token%3D88766381-ab7c-461c-af4c-17244227d28e&width=768&dpr=3&quality=100&sign=5043e0d1&sv=2) 1. View the breakdown of the farming strategy and the simulation of the estimated PnL 2. Click on "**Confirm**" and confirm the transaction on your wallet ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FGqVOpUgcMdHwivNFLOn3%252Fimage.png%3Falt%3Dmedia%26token%3De6f8f7af-16dd-4f20-8a13-cdf74e4a8794&width=768&dpr=3&quality=100&sign=8e2c6928&sv=2) 1. Once the transaction is processed, you can find the info about your farming position in the "**My Positions**" section on the Farm page. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fu36m8vhll9qfOOYSiHcF%252F1683636841783.png%3Falt%3Dmedia%26token%3D39bf1784-000f-4df0-8595-222b47c67359&width=768&dpr=3&quality=100&sign=8c714a85&sv=2) [PreviousHow to usechevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use) [NextClose a Farming Positionchevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/close-a-farming-position) Last updated 2 years ago --- # Impermanent Loss | Extra Finance **What is Impermanent Loss?** Impermanent loss can arise when there is a price discrepancy between the two assets a trader holds on a DEX, usually a cryptocurrency and a stablecoin (such as USDC). When the price of the cryptocurrency falls relative to the stablecoin, the trader can experience a loss due to the difference in prices. This is known as Impermanent Loss. **How it works:** [https://coinmarketcap.com/alexandria/glossary/impermanent-lossarrow-up-right](https://coinmarketcap.com/alexandria/glossary/impermanent-loss) **Impermanent Loss Calculator:** [https://defiyield.app/advanced-impermanent-loss-calculatorarrow-up-right](https://defiyield.app/advanced-impermanent-loss-calculator) [PreviousPrice Feedchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed) [NextLiquidationchevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation) Last updated 3 years ago --- # Long/Short Farming Strategy | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy#what-is-long-short-farming-strategy) **What is Long/Short Farming Strategy?** **Long Farming Strategy** When you believe that the price of the Non-stable Asset(NSA) will increase in the future, you can perform Long Farming Strategy to borrow USDC. Your position value will increase when the NSA price rise (or decrease when the price drops). ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FP9ac8rWmx81Keh6J9R4N%252Fimage.png%3Falt%3Dmedia%26token%3Dfec97b53-9ada-4aa0-b71c-d1dd2da6fae1&width=768&dpr=3&quality=100&sign=2f4ed4da&sv=2) **Short Farming Strategy** When you believe that the price of the NSA will decrease in the future, you can perform Short Farming Strategy to borrow the NSA. If the NSA drops within a specific price range, you will make a profit. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FdD3BQdM5zJeQGffSPSQY%252Fimage.png%3Falt%3Dmedia%26token%3D2c105923-e968-4ce5-b7e3-b1a573ea774c&width=768&dpr=3&quality=100&sign=df8794de&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy#how-does-it-work) **How does it work?** **Long Farming Strategy** For instance, if you hold ETH and seek to generate yield, you may borrow an equivalent amount of USDC to create ETH-USDC LP, which can earn farming rewards on a DEX (such as Velodrome). Moreover, if you have a bullish outlook on ETH, you could leverage your position by borrowing additional USDC to open a 3X-long position. You can take the long profit when the price rises, while the high returns of leveraged farming can also compensate for potential price volatility. **Short Farming Strategy** If you have a bearish outlook on ETH, you could leverage your position by borrowing additional ETH to open a 3X-short position. You can take the short profit when the price drops within a specific range, while the high returns of leveraged farming can also compensate for potential price volatility. [PreviousRe-investing Strategychevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy) [NextMarket Neutral Strategychevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy) Last updated 2 years ago * [What is Long/Short Farming Strategy?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy#what-is-long-short-farming-strategy) * [How does it work?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy#how-does-it-work) --- # Strategy | Extra Finance Extra Finance offers customized farming strategies to farmers, including [Re-investing Strategy](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy) , [Long/Short Farming Strategy](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy) , and [Market Neutral Strategy](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy) . [PreviousClose a Farming Positionchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/how-to-use/close-a-farming-position) [NextRe-investing Strategychevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy) Last updated 3 years ago --- # Price Feed | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#price-displayed-on-extrafi-dapp) Price Displayed on ExtraFi dAPP The price displayed, and users' position/debt/equity value on ExtraFi dAPP are directly based on the on-chain price from DEX (Calculated by the AMM model). ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#liquidation-price-feed) Liquidation Price Feed Liquidation Price Feed Discription Targets Real-time Price Price calculated directly from AMM pool Default TWAP-30min Time Weighted Average Price (TWAP) calculated over a 30-minute period (Learn more about [TWAParrow-up-right](https://chain.link/education-hub/twap-vs-vwap) ) Assets that have adequate liquidity, exhibit low volatility, and possess strong fundamentals. (Updated on May 10, 2024) Utilizing TWAP ensures that positions are more resilient and better protected, particularly in highly volatile markets. This safeguard is designed to shield leverage farmers from sudden price fluctuations or malicious manipulations, reducing the risk of flash liquidation events. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#price-protection-with-chainlink-price-feed) Price Protection with Chainlink Price Feed Chainlink price feeds (for assets supported on Optimism) are also aggregated on ExtraFi DApp - it is used to avoid abnormal price fluctuation: only when the price difference among 'TWAP', 'current on-chain price', and 'Chainlink Feed' is under a reasonable threshold will the liquidation mechanism work - If there is abnormal price fluctuation, the transaction will be reverted to avoid price attacks. [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fcdn.prod.website-files.com%2F61e4774ecd79d748406a58e4%2F626052b2d683d9fc8efe72c8_Group%2520308.png&width=20&dpr=3&quality=100&sign=b79c7081&sv=2)Extra Finance on Chainlink Ecosystem | Every Chainlink integration and partnershipwww.chainlinkecosystem.comchevron-right](https://www.chainlinkecosystem.com/ecosystem/extra-finance) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FZjOqRCIkH14jeYNyncOx%252Fcl.svg%3Falt%3Dmedia%26token%3Dfe372283-b834-4789-81fd-2b76f6e57f6f&width=300&dpr=3&quality=100&sign=7949cdf4&sv=2) [PreviousPool Infochevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/pool-info) [NextImpermanent Losschevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/impermanent-loss) Last updated 1 year ago * [Price Displayed on ExtraFi dAPP](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#price-displayed-on-extrafi-dapp) * [Liquidation Price Feed](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#liquidation-price-feed) * [Price Protection with Chainlink Price Feed](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed#price-protection-with-chainlink-price-feed) --- # Re-investing Strategy | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy#what-is-re-investing-strategy) **What is Re-investing Strategy?** Re-investing is an important method for generating high profits. Extra Finance assists users by automatically taking out their profits and reinvesting them into relevant positions. This allows profits to be quickly generated, maximizing earnings. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy#how-does-it-work) **How does it work?** To execute a re-investing strategy, you will need to first open a farming position. Once the position is opened, Extra Finance’s auto-compounding bot will help you automatically take out your profits and reinvest them in relevant positions. The formula of re-investing for reference is: APY\=(100%+RN)NAPY = (100\\%+\\frac{R}{N})^NAPY\=(100%+NR​)N In which R is the APR, N, the compound frequency, is how many times we reinvest per year. This can also be reduced when N is much larger than R: APY\=((100%+RN)NR)R→eRAPY = ((100\\%+\\frac{R}{N})^\\frac{N}{R}) ^{R}\\to e^{R}APY\=((100%+NR​)RN​)R→eR At Extra Finance, the auto-compounding strategy runs every 24 hours to help you achieve higher returns. This feature is designed to optimize your investment and increase your earnings. [PreviousStrategychevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/strategy) [NextLong/Short Farming Strategychevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy) Last updated 2 years ago * [What is Re-investing Strategy?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy#what-is-re-investing-strategy) * [How does it work?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/re-investing-strategy#how-does-it-work) --- # Market Neutral Strategy | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy#what-is-market-neutral-strategy) **What is Market Neutral Strategy?** A Market-Neutral Strategy (Pseudo-Delta-Neutral Strategy) is a leveraged yield farming technique. With this strategy, you can earn high APY on your pairs while reducing your risk by hedging out market exposure. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FO6wjwIfzB7svT0KD1ODJ%252Fimage.png%3Falt%3Dmedia%26token%3Df6c125d1-2974-4a9f-bf93-8c188d85aa58&width=768&dpr=3&quality=100&sign=da0b875b&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy#how-does-it-work) **How does it work?** Market Neutral Strategy is realized by simultaneously opening one long position and one short position to achieve zero net market exposure on the volatile asset in a token pair. Let's take the 3X ETH-USDC LP as an example. To get started, deposit a total of 400 USDC into the positions. The strategy works as follows: 1. Borrow 200 USDC (25%) Utilize 100 USDC from your deposit and borrow 200 USDC. The position value will be $300. Since the LP is a 50%-50% position setting, you will have a $300 - $150 = $150 cost in ETH LONG exposure. 2. Borrow $600 worth of ETH (75%) Utilize 300 USDC from your deposit and borrow the equivalent of $600 in ETH. The total position value will be $900. Since the LP is a 50%-50% position setting, you will have a $600 - $450 = $150 cost in ETH SHORT exposure. Then both the long exposure and short exposure are hedged. [PreviousLong/Short Farming Strategychevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/long-short-farming-strategy) [NextPool Infochevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/pool-info) Last updated 2 years ago * [What is Market Neutral Strategy?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy#what-is-market-neutral-strategy) * [How does it work?](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy#how-does-it-work) --- # Liquidation | Extra Finance [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#basics) Basics ------------------------------------------------------------------------------------------------ Opening a leveraged position involves borrowing crypto assets to increase your potential return. Doing so allows you to take advantage of market fluctuations and potentially achieve greater profits than if you had simply invested your own funds. However, it's important to be aware of the risk of liquidation. When a position's debt-to-value ratio (**Debt Ratio**) exceeds a certain threshold (**Liquidation Threshold**), Liquidation occurs. This triggers ExtraFi’s liquidation bot to close the position to ensure debt repayment, which means your borrowed funds will be returned to the lender, and any potential remaining portion(after deductions of liquidation bounty) will be returned. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#formula) Formula ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FJA2Y5OkLudJkJqpTTuMg%252Fimage.png%3Falt%3Dmedia%26token%3Db69d8cc5-818f-42c3-9a00-d471036e2ebc&width=768&dpr=3&quality=100&sign=90e3f0be&sv=2) **Debt Value:** The value of the borrowed tokens **Position Value:** The total value of your farming position, which is equal to Debt Value + Equity Value **Equity Value:** Position Value - Debt Value ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#parameters) **Parameters** Extra Finance liquidates farming positions at an **83.33%** LTV ratio, which leaves about a **16.67%** buffer to liquidate. For stable pools, the LTV threshold is **90.00%** (These parameters may be subject to updates in response to changes in market conditions and in accordance with governance procedures.) ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-example-1.0) **Liquidation Example 1.0** circle-info Please read ['Safe Liquidation 2.0,'](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) which is an enhanced mechanism working now designed to minimize position loss. (the below process now serves as a backup solution for ['Safe Liquidation 2.0'](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) .) Bob chooses to farm in the ETH-USDC liquidity pool when the price of ETH is $2,000 and that of USDC is $1: 1. Bob opens an ETH-USDC leveraged farming position using 3x leverage 2. He supplies 10 ETH (worth 20,000 USDC), which is his initial Equity Value 3. He borrows 40,000 USDC (2x what he supplied, when combined with the 20,000 he added himself, that makes 3x total) 4. The protocol then automatically converts all deposited and borrowed tokens into a 50:50 proportion for creating the LP tokens for farming: 15 ETH + 30,000 USDC, which is his initial Position Value. _(Due to the price impact from swapping and trading fees, it would be slightly lower in reality)_ 5. Bob’s Debt Ratio (Debt / Position Value) is ~66% (40,000 USDC / 60,000 USDC) 6. If the ETH price drops > 36%, then Bob’s Debt Ratio will exceed 83.3% (the Liquidation Threshold for the ETH-USDC pool). It will trigger the liquidation bot to close his position, repay the debt, and return any potential remaining assets (after deductions of liquidation bounty). _Please note that the example above did not consider the impact of yield farming rewards and trading fees._ ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) **Safe Liquidation 2.0** In our ongoing efforts to minimize price impact and protect user assets during liquidation events, we introduce Safe Liquidation 2.0. This mechanism is designed to enhance user security and is outlined as follows: * **Partial Liquidation**: When the Liquidation Threshold is reached, only a portion (typically 30%, more details [here](https://docs.extrafi.io/extra_finance/resources/param-and-fee#leveraged-yield-farming) ) of the user's position will be subject to liquidation. * **Debt Repayment**: During the liquidation process, after accounting for liquidation bounties, all the potential remaining portion of the position to be liquidated will be utilized to repay the debt. This ensures that users maintain a safer debt ratio for the remaining part of their position. * **User Asset Safety**: If liquidation continues due to ongoing price movements, users may eventually retain LP assets on the platform, free from leverage. These assets represent the remaining portion of the position post-liquidation, and they can be withdrawn at any time. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#advantages-of-safe-liquidation-2.0) Advantages of Safe Liquidation 2.0 1. **Reduced Risk of Total Position Liquidation:** Safe Liquidation 2.0 mitigates the risk of completely liquidating a position. By utilizing partial liquidation, it repays part of the debt, effectively lowering the debt ratio of the position. This process enhances the likelihood of averting additional liquidations, thereby increasing the safety of the assets held. 2. **Prevention of Circular Liquidation:** Comprehensive liquidation of large-value positions can adversely affect market prices within the liquidity pool, potentially triggering a domino effect of further liquidations. Safe Liquidation 2.0 addresses this issue by limiting the liquidation extent, thereby safeguarding the user's position and reducing the risk of such recursive liquidation scenarios. 3. **Decreased Liquidation Fees:** The fee structure of Safe Liquidation 2.0 is more favorable compared to traditional methods. It charges an 8% fee on the value of the liquidated portion of the position. Since it targets 30% of the total position value for liquidation, the effective fee is **2.4%** of the total position value. This is significantly lower than the typical 5% liquidation fee on the entire position value, thus saving costs for users during the liquidation event. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0-example) **Safe Liquidation 2.0 Example** Let's consider Bob, who has a position to be liquidated. To illustrate the optimization of his position assets and liquidation fees with Safe Liquidation 2.0, we'll compare two scenarios: one under the Liquidation Mechanism 1.0 and the other under Safe Liquidation 2.0. **Scenario 1: Liquidation Mechanism 1.0** * Bob’s position value: $100,000. * Due to market volatility, his position becomes subject to liquidation. * Under the current mechanism, there's a possibility of complete liquidation. * Liquidation Fee: 5% of the total position value. * Bob pays a liquidation fee of $5,000 ($100,000 \* 5%). * His entire position is liquidated. **Scenario 2: Safe Liquidation 2.0** * Bob’s position value remains at $100,000. * His position again becomes subject to liquidation due to market changes. * Under Safe Liquidation 2.0, only a portion of his position is liquidated (let's say 30% for this example). * Liquidated Position Value: $30,000 ($100,000 \* 30%). * Liquidation Fee: 8% on the liquidated portion. * Bob pays a liquidation fee of $2,400 ($30,000 \* 8%). * Only $30,000 of his position is liquidated. **The remaining from this partial liquidation (excluding the liquidation fee) is used to repay a portion of Bob’s debt, thereby effectively reducing his overall debt.** With lower outstanding debt, the debt ratio of the remaining 70% of Bob's position (valued at $70,000) declines! This makes his position less vulnerable to further market downturns and potential liquidations. **Comparison and Benefits:** * **Reduced Liquidation Fee:** In Scenario 2, Bob pays $2,400, which is significantly less than the $5,000 fee in Scenario 1. * **Asset Preservation:** Bob retains 70% of his position under Safe Liquidation 2.0, unlike complete liquidation in the previous mechanism. * **Risk Mitigation:** Safe Liquidation 2.0 reduces the risk of triggering further liquidations in the market, which could be caused by the price impact of large-scale liquidations. circle-info **⚠️ Important: Please note that in the event of a significant price movement, there is a possibility that no remaining assets are left. This can occur when the equity approaches the value of the debt or falls below the value of the debt, leading to a complete loss of assets.** ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-price-oracle) Liquidation Price Oracle Liquidation triggers are based on the on-chain Time Weighted Average Price (TWAP) calculated over a 30-minute period. By utilizing TWAP, the system ensures that positions are more resilient and better protected, particularly in highly volatile markets. This safeguard is designed to shield leverage farmers from sudden price fluctuations or malicious manipulations, reducing the risk of flash liquidation events. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-bot) **Liquidation Bot** The team will initially run the liquidation bot to make sure that the market is orderly during the launch phase. This will help ensure that positions are being liquidated in a timely manner, which will in turn help to prevent any potential issues or complications. Additionally, the sample code for the liquidation bot will be open-source in the future. [PreviousImpermanent Losschevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/impermanent-loss) [NextIntroduction to Lendingchevron-right](https://docs.extrafi.io/extra_finance/lending/introduction-to-lending) Last updated 2 years ago * [Basics](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#basics) * [Formula](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#formula) * [Parameters](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#parameters) * [Liquidation Example 1.0](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-example-1.0) * [Safe Liquidation 2.0](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) * [Advantages of Safe Liquidation 2.0](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#advantages-of-safe-liquidation-2.0) * [Safe Liquidation 2.0 Example](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0-example) * [Liquidation Price Oracle](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-price-oracle) * [Liquidation Bot](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#liquidation-bot) --- # Introduction to Lending | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOICFS9q9To7RchhUIgCP%252Fextrafi%2520%286%29.png%3Falt%3Dmedia%26token%3D8350b6cb-a8b6-480d-9741-5c0a1e141616&width=768&dpr=3&quality=100&sign=a5f9d5e9&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/lending/introduction-to-lending#what-is-lending) **What is Lending?** Lending involves supplying assets to the lending pool, which are then borrowed by leveraged yield farmers to perform yield farming. On Extra Finance, lenders can lend various assets (e.g. ETH, USDC) to earn from the lending APY. The interest rates for deposited assets are determined by the utilization rate of lending pools, following their corresponding interest rate curve. You can find detailed parameters [here](https://docs.extrafi.io/extra_finance/lending/interest-rate-model) . Extra Finance does not charge any fees for deposits or withdrawals, and there is no default lockup period, so you can deposit and withdraw funds at any time. (**Please note that if the utilization rate is very high, it may take some time to be able to withdraw the assets until farmers return them.**) [PreviousLiquidationchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation) [NextHow to usechevron-right](https://docs.extrafi.io/extra_finance/lending/how-to-use) Last updated 1 year ago --- # Pseudo-Fixed-Interest-Rate Model | Extra Finance [hashtag](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#a1af) Background -------------------------------------------------------------------------------------------------------------- In a typical LYF structure, users borrow assets from a built-in lending pool to engage in leverage farming, accepting exposure to the funding cost with a floating interest rate. For volatile pools like OP-USDC, where the fundamental farming APR is relatively high, borrowing interest rare can be tolerated as the resulting leveraged farming APR remains appealing. However, for stablecoin pools and LST pegged pools, where the farming APR is lower, borrowing interest becomes a crucial factor for farmers when deciding to open positions. The volatility of interest rates presents challenges for liquidity providers, resulting in low leveraged APRs or even negative APRs. This limitation hinders the potential of LYF and may reduce borrowing demand. [hashtag](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#id-9ba5) Pseudo-Fixed-Interest-Rate (PFIR) Model ---------------------------------------------------------------------------------------------------------------------------------------------- To address the aforementioned problem and unlock the full potential of LYF, Extra Finance introduces a new supply-demand model called the Pseudo-Fixed-Interest-Rate (PFIR) model. Let’s explore how it works for stable pools and LST pools. * The PFIR model functions similarly to a fixed borrowing rate mechanism until it reaches a utilization threshold, such as 80%. Users can leverage their stable/LST pools with a fixed borrowing rate below the threshold. As the fixed borrowing rate is intentionally lower than the farming APR, it becomes profitable to borrow for leverage farming, resulting in high utilization. * With high utilization, lenders can benefit from an attractive lending APR calculated based on utilization and borrowing APR. This ensures lenders can enjoy a steady APR rate that surpasses typical lending protocols. * Once the utilization hits the threshold, the borrowing interest rate dramatically increases, encouraging borrowers to repay or attracting lenders to deposit funds. This design also creates a buffer for lenders to withdraw their deposits whenever they want. * To enhance the user experience for leveragers and minimize the risk of negative farming APY due to high borrowing costs, ExtraFi App has implemented a limit on borrowing (or leverage), when the utilization of the lending asset reaches 81%. This measure ensures that leveragers have a reduced chance of encountering unfavorable APY rates. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FYTT0aRwZm7R4O0NjGuI0%252Fimage.png%3Falt%3Dmedia%26token%3D3b1fa755-7044-4b3b-ae3b-513e2ee78798&width=768&dpr=3&quality=100&sign=f2c3ac1f&sv=2) An example of the PFIR model is as follows: ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FiCRI33QhbWXvoNdwNQov%252Fimage.png%3Falt%3Dmedia%26token%3D9a3b56a1-b846-419d-8670-826f50d8dcb6&width=768&dpr=3&quality=100&sign=4c1c6b30&sv=2) _Note that the value '5%' - fixed borrowing rate in the above chart is subject to market conditions and borrowing demand, and this value will be regularly reviewed and updated through a governance procedure._ [hashtag](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#id-5c96) Benefits of the PFIR Model --------------------------------------------------------------------------------------------------------------------------------- **For Farmers:** 1/ Isolated lending pools for stable/LST pools ensure a comparable low borrowing cost by design. 2/ Predictable borrowing costs when implementing leverage farming for stable/LST pools, avoiding negative APRs and uncertainty. **For lenders:** 1/ More sustainable lending APR. The high demand resulting from high utilization allows lenders to enjoy a steady, attractive APR rate compared to traditional lending protocols. 2/ A buffer is designed for lenders to exit their lending positions at any time. 3/ As borrowers provide liquidity in stable or pegged LST pools, the risk of bad debt resulting from market volatility is much lower compared to ordinary volatile pools. [PreviousInterest Rate Modelchevron-left](https://docs.extrafi.io/extra_finance/lending/interest-rate-model) [NextIntroduction to Tokenomics V2chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/introduction-to-tokenomics-v2) Last updated 2 years ago * [Background](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#a1af) * [Pseudo-Fixed-Interest-Rate (PFIR) Model](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#id-9ba5) * [Benefits of the PFIR Model](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model#id-5c96) --- # Interest Rate Model | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FAJwVLAMG6Hk5yAkdhpH1%252Ffunction%2520%2520update%2520%285%29.png%3Falt%3Dmedia%26token%3D874a3014-f334-4cfe-8dd8-8f1fb2db2dbd&width=768&dpr=3&quality=100&sign=d936612b&sv=2) Interest Model Typicial Assets **Interest Rate Model 1:** Borrowing rate applicable for assets with high market cap. ETH USDC **Interest Rate Model 2:** Borrowing rate applicable for most assets. VELO OP SNX **Interest Rate Model 3:** Borrowing rate applicable for Stable Pool & LST Pools. USDC (for sAMM pools) DOLA FRAX USDR wstETH and other stable or LST assets ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FPhWQjRvw2S5NjAqH8Xj6%252Fimage.png%3Falt%3Dmedia%26token%3Dbf04fd19-0059-4ef8-a38a-ab1df88c7623&width=768&dpr=3&quality=100&sign=cfed262c&sv=2) Borrowing Interest Rate - Appliable for assets with high market cap. x-axis: utilization, y-axis: borrowing interest rate ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F6SKgo69DXGHXEwGSZdNG%252Fimage.png%3Falt%3Dmedia%26token%3D1751d2cf-51a9-4fbf-90c8-1304e0b86904&width=768&dpr=3&quality=100&sign=7033e14a&sv=2) Borrowing Rate - Appliable for most assets x-axis: utilization, y-axis: borrowing interest rate Specifically, for stable and LST(Liquidity Staking Assets) pools, an interest rate model is introduced that aligns with the characteristics of 1) pegging and 2) a lower farming APY compared to volatile pools. This interest model functions similarly to a fixed borrowing rate mechanism before it hits a utilization threshold. circle-info It's important to note that the 5% fixed borrowing rate in the chart below is not a static figure but rather subject to market conditions and borrowing demand. The parameter will be regularly reviewed and updated under a governance procedure. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F6Fuhp3RMv0pGqWxRxMrp%252Fimage.png%3Falt%3Dmedia%26token%3D280534db-4d83-4fd3-9e4e-2d92d8032164&width=768&dpr=3&quality=100&sign=e682ff29&sv=2) Borrowing APY for Stable & LST Pools Read more about the interest rate model here: [Pseudo-Fixed-Interest-Rate Modelchevron-right](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) [PreviousHow to usechevron-left](https://docs.extrafi.io/extra_finance/lending/how-to-use) [NextPseudo-Fixed-Interest-Rate Modelchevron-right](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) Last updated 1 year ago --- # ve-Mechanism & Utility V2 | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#ve-mechanism) ve-Mechanism ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fzw2Vxb9tA6ui7KBEGUfc%252Fveextra%25401x.png%3Falt%3Dmedia%26token%3D74a88f16-5a8a-4f17-898e-0b671f8fe5bc&width=768&dpr=3&quality=100&sign=d5a6ce78&sv=2) In Extra Finance, governance and utility are managed through two types of tokens: EXTRA and veEXTRA. * **EXTRA** is an ERC-20 utility token used to reward liquidity providers through token emissions. * **veEXTRA** is an ERC-20 governance token. It is obtained by locking (vote-escrowing) EXTRA tokens for a specified period. When you lock EXTRA to receive veEXTRA, the amount of veEXTRA you receive depends on how long you choose to lock your EXTRA. The lock period (also known as vote-escrowed period, hence the ve prefix) can be up to 1 year (52 weeks), following the linear relationship shown below: The longer the lock period, the more veEXTRA you get, which corresponds to a higher voting power and reward factor. circle-info As time passes, the locked period shortens, leading to a gradual decay in the amount of veEXTRA. Here's why: * When you first lock EXTRA, the amount of veEXTRA you get is directly proportional to the duration of the lock. For example, locking 100 EXTRA for 52 weeks (1 year) results in 100 veEXTRA. * As the lock period decreases over time, the corresponding amount of veEXTRA diminishes. This reduction is linear. Continuing the example above, locking 100 EXTRA for 13 weeks (1/4 year) results in only 25 veEXTRA. ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#governance) Governance #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#vote-and-governance-in-the-community) **Vote & Governance in the Community.** `$veEXTRA`is the voting power in Extra Finance's on-chain governance process. Users could use it to initialize a proposal, or cast for/against community proposals. `$veEXTRA` holders can participate in governance through Snapshot. By holding >1 `$veEXTRA`, holders can participate in voting. By holding >30,000 `$veEXTRA`, holders can initiate proposals. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#extra-finance-snapshot-space) Extra Finance Snapshot Space [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fsnapshot.org%2Ffavicon.svg&width=20&dpr=3&quality=100&sign=b7493533&sv=2)Snapshotsnapshot.orgchevron-right](https://snapshot.org/#/extradao.eth) [Review the historical proposals.arrow-up-right](https://extrafi.notion.site/3ce97097ee264661b2eb3b308882da3c?v=9eec99ec3b6544e1ae4b966b82f3d470) ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#utility) Utility By holding `$veEXTRA`, users can unlock the following benefits and features: #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#id-1.-apr-rewards-sourced-from-both-protocol-fees-and-usdextra-token-incentives) **1\. APR rewards, sourced from both protocol fees and** `**$EXTRA**` **token incentives.** The protocol fee comprises various tokens collected into the treasury and is shared once per epoch. It is used to buy back `$EXTRA` tokens from the market and then distribute them to holders of `$veEXTRA` tokens. A portion of the `$EXTRA` tokens allocated to the community will also be assigned to `$veEXTRA` token holders, subject to a specific emission plan. At the end of each epoch, rewards will be collected for distribution. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#id-2.-unlock-higher-leverage-for-yield-farming-pools) **2\. Unlock higher leverage for yield farming pools.** #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#id-3.-gain-access-to-lending-pools-with-a-high-utilization-rate) **3\. Gain access to lending pools with a high utilization rate.** Lending pools may experience high demand and potential shortages when implementing leverage farming. However, holders of $veEXTRA will have the privilege to borrow from these pools. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#id-4.-priority-to-more-coming-features-and-benefits-including) **4\. Priority to more coming features and benefits,** including: * Advanced facilities including one-click position-rebalance tool. * Automatic strategy vaults. Utility & Governance Minimum veEXTRA Required Higher Leverage for Yield Farming Pools 10,000 veEXTRA Premium Borrow for High Utilization Lending Pools 10,000 veEXTRA One-click Rebalance Feature 4,000 veEXTRA Propose a Governance Proposal 30,000 veEXTRA Voting Power in Governance 1 veEXTRA [PreviousIntroduction to Tokenomics V2chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/introduction-to-tokenomics-v2) [NextAllocation & Emission V2chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2) Last updated 1 year ago * [ve-Mechanism](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#ve-mechanism) * [Governance](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#governance) * [Utility](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2#utility) Copy 100 EXTRA locked for 52 weeks will become 100 veEXTRA 100 EXTRA locked for 13 weeks will become 25 veEXTRA --- # Tokenomics V1 | Extra Finance Please note that this content is about Tokenomics V1 and is provided for reference purposes only. For more detailed information, please refer to ExtraFi Tokenomics V2. [PreviousStaking V2chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2) [Nextve-Mechanism & Utilitychevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility) Last updated 2 years ago --- # Introduction to Tokenomics V2 | Extra Finance In response to the protocol's growth and community feedback, the ExtraFi community voted for and officially approved the ExtraFi Tokenomics V2 in January 2024. [https://snapshot.org/#/extradao.eth/proposal/0xdc995d9cb93abe822a14c58b5d72ae660dd103e0e31da431b1dd06de0651242carrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0xdc995d9cb93abe822a14c58b5d72ae660dd103e0e31da431b1dd06de0651242c) ExtraFi Tokenomics V2 aims to enhance `$veEXTRA` staking rewards, reduce inflationary pressure, and improve the protocol along with the `$EXTRA` token flywheel. Additionally, some adjustments have been made, including the `$EXTRA` emission plan. [PreviousPseudo-Fixed-Interest-Rate Modelchevron-left](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) [Nextve-Mechanism & Utility V2chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2) Last updated 2 years ago --- # Staking V2 | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FWA019IgiABMqhGASCcB9%252Fextrafi%2520%287%29.png%3Falt%3Dmedia%26token%3D6ccc2852-ddd9-4d67-b59e-12c627dd436e&width=768&dpr=3&quality=100&sign=5438c521&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#why-staking) Why Staking? * Earn weekly EXTRA rewards (✨ including random rewards from partners) * Participate in protocol governance (proposal and voting) * Unlock farming utilities: higher leverage factor & more (from 4,000 veEXTRA) Utility & Governance Minimum veEXTRA Required Higher Leverage for Yield Farming Pools 10,000 veEXTRA Premium Borrow for High Utilization Lending Pools 10,000 veEXTRA One-click Rebalance Feature 4,000 veEXTRA Propose a Governance Proposal 30,000 veEXTRA Voting Power in Governance 1 veEXTRA benefits in plan ⬇️ * Unlock advanced farming tools * Utilities in v2 products ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#staking-explanation) Staking Explanation #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#epoch) Epoch * Epoch is the minimal lock-up unit to lock `$EXTRA` tokens to veEXTRA. On Extra Finance, one epoch is 7 days. * The start time of each epoch is UTC 00:00 every Thursday and ends at UTC 00:00 next Thursday. * A unlock date can only be the end time of each epoch. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#staking-reward-allocation) Staking Reward Allocation * **Reward source**: * Staking rewards are sourced from both `$EXTRA` token emissions AND part of protocol fees accumulated in the last (i.e. n-1) epoch. * For the `$EXTRA` token emissions part, 20% of the fee buyback will be matched. This will be reviewed on a quarterly basis in the future. Governance will determine whether adjustments are necessary. * Additionally, 40% of the borrowing fee will be converted to `$EXTRA` and distributed as staking rewards each epoch. Please note that the community fund will NOT additionally match 20% of the borrowing fees buyback portion. * All rewards will be swapped and collected as `$EXTRA` tokens for distribution for each epoch. * Reward allocations are based on your veEXTRA balance snapshotted **at the beginning of an epoch** and will be allocated proportionally. * The rewards accumulated during an epoch can be claimed after the end of that epoch. (Notice: If you deposit in the middle of an epoch, there won't be rewards for that epoch. You will be eligible to gain staking rewards after the next epoch ends. That is to say, a full epoch is required to claim rewards.) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FKjrZlt2vdWwQs1zwh4h9%252Fimage.png%3Falt%3Dmedia%26token%3D70b6bb4d-a6ee-460a-a3f3-a222956ef1f9&width=768&dpr=3&quality=100&sign=fea01a98&sv=2) eligible to claim staking rewards for epoch 2 ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F96Xk0VTVNzofH6PLoY6J%252Fimage.png%3Falt%3Dmedia%26token%3D11bc7e90-806c-4b6e-95e1-598957a6307a&width=768&dpr=3&quality=100&sign=24a4d838&sv=2) NOT eligible to claim staking rewards for epoch 2 [PreviousAllocation & Emission V2chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2) [NextTokenomics V1chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1) Last updated 1 year ago * [Why Staking?](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#why-staking) * [Staking Explanation](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2#staking-explanation) --- # How to use | Extra Finance #### [hashtag](https://docs.extrafi.io/extra_finance/lending/how-to-use#to-open-a-lending-position-on-extra-finance-simply-follow-the-steps-below) **To open a lending position on Extra Finance, simply follow the steps below:** 1. Visit the [Extra Finance Lend pagearrow-up-right](https://app.extrafi.io/lend) 2. Connect to your Web3 wallet (such as [MetaMask](https://docs.extrafi.io/extra_finance/getting-started/metamask) . Please ensure that you have a sufficient amount of ETH to cover on-chain gas fees. These fees will be charged by the Optimism chain. ExtraFi still maintains 0.00 gas for in-app transactions) 3. Select the lending pool that you’d like to deposit and click on “**Deposit**” ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FEKUrjf3Yc5FRdpP4ObfE%252F1683524471297.png%3Falt%3Dmedia%26token%3D4ab6f582-eb99-41b6-88e1-d24a4bcfefc5&width=768&dpr=3&quality=100&sign=b2a3f17e&sv=2) 1. Enter the amount to deposit ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FK4f0l8KH4WNr1nWXZQSg%252F1683524582717.png%3Falt%3Dmedia%26token%3D52bab13d-0aaa-4b14-963c-b26ff40cebcd&width=768&dpr=3&quality=100&sign=ace05284&sv=2) 1. Click on "**Deposit**" and confirm the transaction on your wallet ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FLHw6V1cA4gPe5jPF9raq%252F1684662131084.png%3Falt%3Dmedia%26token%3D25e68c40-34f8-40bb-9103-b1cc1f100ca8&width=768&dpr=3&quality=100&sign=24d0f709&sv=2) 1. Once the transaction is processed, you can find the info about your lending position in the "**Your Positions**" section on the Lend page. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FuUXrzXN9ahpKpoJUb7Dm%252F1683637482631.png%3Falt%3Dmedia%26token%3Da3882dd2-2eb3-4c1f-8f46-a70aff31e29d&width=768&dpr=3&quality=100&sign=c263c637&sv=2) **To fully/partially withdraw from a lending position on Extra Finance, simply follow the steps below:** 1. Select the lending pool that you’d like to withdraw and click on “**Withdraw**” ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fz67cONafTgMQACFcqF49%252F1683637482631.png%3Falt%3Dmedia%26token%3D0d5a2512-e9e0-4367-b581-846d2bf52beb&width=768&dpr=3&quality=100&sign=ffabcc00&sv=2) 1. Enter the amount to withdraw ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fo5nF5BWC9v4gdpHVt4NI%252F1683524910274.png%3Falt%3Dmedia%26token%3D9ec66d45-e44d-4b08-bacc-5f71d8226f4f&width=768&dpr=3&quality=100&sign=f7711574&sv=2) 1. Click on “**Withdraw**" and confirm the transaction on your wallet [PreviousIntroduction to Lendingchevron-left](https://docs.extrafi.io/extra_finance/lending/introduction-to-lending) [NextInterest Rate Modelchevron-right](https://docs.extrafi.io/extra_finance/lending/interest-rate-model) Last updated 2 years ago --- # Param & Fee | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/resources/param-and-fee#global) **Global** Parameter Rate Description **Minimum Entry Size** **$10** (or equivalent) The minimum amount of assets that a user can deposit to open a leveraged position. **Entrance Fee** **0%** Applicable to Leveraged Yield Farming & Lending **Exit Fee** **0%** Applicable to Leveraged Yield Farming & Lending ### [hashtag](https://docs.extrafi.io/extra_finance/resources/param-and-fee#leveraged-yield-farming) **Leveraged Yield Farming** Parameter Rate Description **Re-investment Fee** **6.5% ~ 11.5% (default: 9%)** the breakdown of re-investment fee is as follows: * 2% ~ 3% (default: 2.5%) allocated for distribution to veEXTRA holders weekly. * 0.5% earmarked for covering the operational costs of bots responsible for auto-reinvestment. * 3% designated for the team treasury. * 1% allocated to the Rainy Day Fund, to cover unforeseen protocol risks. * 0% ~ 4% (default: 2%) for the buyback and burn. (Check more details in the [proposalarrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0xf4c0fd92afdec909b76213e599526a7005b82b99f7948a12c3d7ad1c53d660f3) .) **Borrowing Fee** **0% ~ 0.3%** The Borrowing Fee, a portion of the amount borrowed, will be charged to buyback EXTRA when the position is closed. * Charges will range from 0% to 0.3%, with the possibility of increasing to 1% in extreme situations. * A standard rate of 0.1% will apply under normal conditions, with any increase beyond 0.3% requiring community approval. * Borrowing fees will be individually set for different farming pools. (Check more details in the [proposalarrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0x7859835330599afb3833444ee893a3e1235d284c4e05c1b652cf189b3ed5ee7a) .) **Liquidation Fee** **8% \*** _**percent**_ A portion of the whole position is charged as a liquidation fee during the liquidation process. When the LTV (loan to value) ratio of a position goes above the liquidation threshold, the user's position will be liquidated gradually to ensure debt repayment. Any remaining assets will be returned to the user's wallet (after deductions of liquidation bounty). _**percent**_ is the percentage of the position, typically 30%. Exceptional scenario: * For large positions with a value larger than $100,000, 0%~30% of the whole position will be liquidated each time, the portion depends on liquidity depth. * For small positions with a value < $1, the whole position will be liquidated to avoid unnecessary transaction costs. (35% of the liquidation fees collected will be distributed weekly to veEXTRA holders.) Read more about [Safe Liquidation 2.0](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) here, a mechanism aiming to enhance the security of leveraged positions, reduce liquidation fees for users, and mitigate secondary market risks. **Price-Range Trigger Fee** **0.3%** A portion of the total position is charged as a trigger fee during the Price-Range Trigger process. When the price goes out of the price range user set in a position, the position will be closed by the price-range trigger bots. After collecting the protocol fee from it, the remaining portion is given as a bonus to the bot that triggered the Price-Range. (_Notice: if price-range closing is not triggered, no fee would be charged.)_ For pool-specific parameters (eg. liquidation threshold), please find them here: [Pool Infochevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/pool-info) ### [hashtag](https://docs.extrafi.io/extra_finance/resources/param-and-fee#lending) **Lending** Parameter Rate Description **Lending Reserve Fee** **15%** Percent of the borrowing interest profit of lenders that is collected as a performance fee; 5.25% (out of 15%) goes to `veExtra` holders, 7.5% goes to ExtraFi Team development fund, and 2.25% will be burned weekly. (**Please note that the lending APY shown on Dapp is after fees.**) circle-info At present, the liquidation and reinvestment bot operates within a whitelisted framework and is managed by the team and trusted partners to prevent malicious activities. As the protocol matures, there are plans for a gradual transition towards a permissionless model. [PreviousHow to Stake (to veEXTRA)chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking/how-to-stake-to-veextra) [NextRoadmapchevron-right](https://docs.extrafi.io/extra_finance/resources/roadmap) Last updated 1 year ago * [Global](https://docs.extrafi.io/extra_finance/resources/param-and-fee#global) * [Leveraged Yield Farming](https://docs.extrafi.io/extra_finance/resources/param-and-fee#leveraged-yield-farming) * [Lending](https://docs.extrafi.io/extra_finance/resources/param-and-fee#lending) --- # Terminologies | Extra Finance #### [hashtag](https://docs.extrafi.io/extra_finance/resources/terminologies#apr-apy) APR(APY) APR stands for Annual Percentage Rate, which is a common way to express the interest rate on a loan or investment over the course of a year. It is calculated by taking the periodic interest rate and multiplying it by the number of periods in a year. For example, if a loan has a monthly interest rate of 1%, its APR would be 12% (1% x 12 months). APY stands for Annual Percentage Yield, which is a similar concept to APR, but it takes compounding into account. APY represents the actual rate of return earned on an investment over a year, including the effect of compounding interest. It is calculated using the formula: APY = (1 + r/n)^n - 1 where r is the annual interest rate and n is the number of compounding periods in a year. For example, if a savings account has an interest rate of 1% per month and compounds monthly, its APY would be 12.68% \[(1 + 0.12/12)^12 - 1\]. The APY is higher than the APR in this case because the interest earned is compounded monthly. Overall, both APR and APY are important measures of the return on an investment or the cost of borrowing, but APY takes compounding into account and may provide a more accurate representation of the actual return on an investment. #### [hashtag](https://docs.extrafi.io/extra_finance/resources/terminologies#impermanent-loss) Impermanent Loss Impermanent loss is a potential loss that liquidity providers may experience in an automated market maker (AMM) system, which is a type of decentralized exchange (DEX). It occurs when the relative prices of the tokens in a liquidity pool change compared to the market price of those tokens. In an AMM system, liquidity providers deposit equal values of two different tokens into a liquidity pool, which is used to facilitate trades between those tokens. The amount of each token held in the pool determines its price relative to the other token. When traders swap one token for another, the price of the tokens in the pool changes based on the ratio of the tokens held in the pool. If the price of one token in the pool increases relative to the other, traders will buy more of the cheaper token, causing its price to rise, while selling the more expensive token, causing its price to fall. This shift in the price ratio of the tokens in the pool results in a temporary loss for liquidity providers, who will receive fewer tokens when they withdraw their liquidity than they would have if they simply held their original tokens. The term "impermanent" is used because the loss is only temporary and can be mitigated by waiting for the prices to return to their original ratio. However, if the price of one token continues to diverge from the other token, the impermanent loss can become permanent. Impermanent loss is a risk that liquidity providers take when providing liquidity to AMM systems, but they are compensated for this risk by earning fees on trades made in the pool. #### [hashtag](https://docs.extrafi.io/extra_finance/resources/terminologies#yield-farming) Yield Farming Yield farming, also known as liquidity mining, is a process of generating rewards with cryptocurrency holdings by providing liquidity to decentralized finance (DeFi) protocols. In yield farming, users deposit their cryptocurrencies into a liquidity pool, which is used to facilitate transactions on a Dex. By providing liquidity to the pool, users earn fees and rewards based on the volume of transactions and the amount of liquidity they have contributed. Yield farming typically involves using a platform's governance token, which represents ownership and voting rights in the protocol. Users can stake their tokens in the pool and earn additional governance tokens as a reward. The value of these governance tokens can appreciate over time, creating an additional source of profit for yield farmers. it is important to note that yield farming is not risk-free and can be subject to market volatility, smart contract bugs, and liquidity issues. It is important for users to carefully research the DeFi platforms they are using and to understand the risks and potential rewards associated with yield farming. #### [hashtag](https://docs.extrafi.io/extra_finance/resources/terminologies#tvl) TVL TVL stands for Total Value Locked, which is a metric used to measure the total value of assets locked in a particular DeFi protocol or platform. TVL is an important metric used to assess the overall popularity and success of a DeFi platform, as well as to track the growth and adoption of the DeFi industry as a whole. On Extra Finance, its TVL is a sum total of: * value of total LP tokens locked. * deposits that are not borrowed. **AMM** AMMs use liquidity pools, which are pools of tokens locked in smart contracts. These pools are funded by liquidity providers who deposit their assets into the pool in exchange for a share of the trading fees generated by the protocol. The prices of the tokens in the pool are determined by a pricing algorithm, which typically maintains a constant product (e.g., x \* y = k) or a bonding curve. Some well-known examples of AMMs include Uniswap and Velodrome. [PreviousTerm of Usechevron-left](https://docs.extrafi.io/extra_finance/resources/term-of-use) Last updated 2 years ago --- # ve-Mechanism & Utility | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#ve-mechanism) ve-Mechanism ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fzw2Vxb9tA6ui7KBEGUfc%252Fveextra%25401x.png%3Falt%3Dmedia%26token%3D74a88f16-5a8a-4f17-898e-0b671f8fe5bc&width=768&dpr=3&quality=100&sign=d5a6ce78&sv=2) Extra Finance uses two tokens to manage its utility and governance: * `$EXTRA` — ERC-20 utility token of the protocol * `$veEXTRA` — ERC-20 governance token of the protocol `$EXTRA` is used for rewarding liquidity providers through emissions. `$veEXTRA` is used for governance. Any `$EXTRA` holder can vote-escrow their tokens and receive a `$veEXTRA` in exchange. The lock period (also known as vote-escrowed period, hence the _ve_ prefix) can be up to 1 year (52 weeks), following the linear relationship shown below: * 100 `$EXTRA` locked for 52 weeks will become 100 `$veEXTRA` * 100 `$EXTRA` locked for 13 weeks will become 25 `$veEXTRA` The longer the vesting time, the higher the voting power (voting weight) and rewards the `$veEXTRA` holder receives. ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#governance) Governance #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#vote-and-governance-in-the-community) **Vote & Governance in the Community.** `$veEXTRA`is the voting power in Extra Finance's on-chain governance process. Users could use it to initialize a proposal, or cast for/against community proposals. ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#utility) Utility By holding `$veEXTRA`, users can unlock the following benefits and features: #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#id-1.-apr-rewards-sourced-from-both-protocol-fees-and-usdextra-token-incentives) **1\. APR rewards, sourced from both protocol fees and** `**$EXTRA**` **token incentives.** The protocol fee comprises various tokens collected into the treasury and is shared once per epoch. It is used to buy back `$EXTRA` tokens from the market and then distribute them to holders of `$veEXTRA` tokens. A portion of the `$EXTRA` tokens allocated to the community will also be assigned to `$veEXTRA` token holders, subject to a specific emission plan. At the end of each epoch, rewards will be collected for distribution. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#id-2.-unlock-higher-leverage-for-yield-farming-pools) **2\. Unlock higher leverage for yield farming pools.** #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#id-3.-gain-access-to-lending-pools-with-a-high-utilization-rate) **3\. Gain access to lending pools with a high utilization rate.** Lending pools may experience high demand and potential shortages when implementing leverage farming. However, holders of $veEXTRA will have the privilege to borrow from these pools. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#id-4.-priority-to-more-coming-features-and-benefits-including) **4\. Priority to more coming features and benefits,** including: * Advanced facilities including one-click position-rebalance tool. * Automatic strategy vaults. [PreviousTokenomics V1chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1) [NextAllocation & Emissionchevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission) Last updated 2 years ago * [ve-Mechanism](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#ve-mechanism) * [Governance](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#governance) * [Utility](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility#utility) --- # Term of Use | Extra Finance \[Last updated: Jul 23, 2025\] Please read these Terms of Use ("Terms") carefully before using Extra Finance ("ExtraFi") platform (hereinafter referred to as "the platform"). By accessing or using the platform, you agree to be bound by these Terms, including any additional guidelines and future modifications. If you do not agree with these Terms, you should not use the platform. Your use of ExtraFi indicates your acceptance and agreement to comply with these Terms. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-1.-access-to-the-platform) 1\. Access to the Platform **1.1 Eligibility:** You must be of legal age in your jurisdiction to access or use the platform. By using the platform, you confirm that you meet the eligibility criteria. If you are not of legal age, you are not permitted to access or use the platform. **1.2 Compliance:** You agree to comply with all applicable laws and regulations while using the platform. By accessing or using the platform, you represent that you are not located in, incorporated, or established in, or a citizen or resident of the Prohibited Jurisdictions. (“**Prohibited Jurisdiction**” means any of the following jurisdictions and territories: the Republic of Cuba, the Democratic People's Republic of North Korea, South Sudan, Islamic Republic of Iran, Syrian Arab Republic, the People’s Republic of China, United States of America (including its territories: American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands), the Crimea Region of Ukraine and Sevastopol, Donetsk People’s Republic and Luhansk People’s Republic regions of Ukraine, and any jurisdiction in which the use of the Platform is prohibited by applicable laws or regulations.) ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-2.-platform-usage) 2\. Platform Usage **2.1 Risks:** You understand and acknowledge that using the platform involves certain risks, including financial risks. Features such as leveraged yield farming, lending, and other functionalities provided by Extra Finance may result in potential [risks](https://docs.extrafi.io/extra_finance/risks) . You agree to use the platform at your own risk, and Extra Finance shall not be held liable for any losses incurred during your use of the platform. **2.2 Personal Responsibility:** You are solely responsible for any decisions and actions you take while using the platform. Extra Finance does not provide financial advice; any information provided on the platform is for informational purposes only. **2.3 Tax Compliance:** You are solely responsible for determining what, if any, taxes apply to your cryptocurrency transactions. Extra Finance is not responsible for calculating, reporting, or withholding any taxes related to your use of the platform. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-3.-intellectual-property) 3\. Intellectual Property **3.1 Ownership:** The platform and all its content, including but not limited to text, graphics, logos, images, and software, are the property of Extra Finance or its licensors and are protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the platform solely for personal and non-commercial purposes. **3.2 Restrictions:** You shall not reproduce, modify, distribute, sell, or lease any part of the platform without prior written consent from Extra Finance. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-4.-changes-to-the-platform-and-terms) 4\. Changes to the Platform and Terms **4.1 Updates:** Extra Finance reserves the right to modify, suspend, or discontinue any part of the platform, including features, functionalities, and services, without prior notice. **4.2 Updates to Terms:** Extra Finance may update these Terms from time to time. The updated Terms will be effective upon posting on the platform, and your continued use of the platform after the changes signify your acceptance of the revised Terms. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-5.-disclaimer-of-warranties) 5\. Disclaimer of Warranties **5.1 "As Is" Basis:** The platform is provided on an "as is" and "as available" basis without any warranties or representations, express or implied. Extra Finance disclaims all warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-6.-limitation-of-liability) 6\. Limitation of Liability **6.1 Exclusion of Damages:** In no event shall Extra Finance or its affiliates be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to lost profits or data, arising from or related to your use or inability to use the platform. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-7.-governing-law) 7\. Governing Law **7.1 Jurisdiction:** These Terms shall be governed by and construed in accordance with the laws of \[Jurisdiction\], without regard to its conflicts of law principles. ### [hashtag](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-8.-contact-us) 8\. Contact Us If you have any questions or concerns about these Terms or the platform, please contact us at \[[\[email protected\]](https://docs.extrafi.io/cdn-cgi/l/email-protection)\ \]. **By using Extra Finance, you acknowledge that you have read, understood, and agreed to these Terms of Use.** [PreviousLinkschevron-left](https://docs.extrafi.io/extra_finance/resources/links) [NextTerminologieschevron-right](https://docs.extrafi.io/extra_finance/resources/terminologies) Last updated 8 months ago * [1\. Access to the Platform](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-1.-access-to-the-platform) * [2\. Platform Usage](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-2.-platform-usage) * [3\. Intellectual Property](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-3.-intellectual-property) * [4\. Changes to the Platform and Terms](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-4.-changes-to-the-platform-and-terms) * [5\. Disclaimer of Warranties](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-5.-disclaimer-of-warranties) * [6\. Limitation of Liability](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-6.-limitation-of-liability) * [7\. Governing Law](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-7.-governing-law) * [8\. Contact Us](https://docs.extrafi.io/extra_finance/resources/term-of-use#id-8.-contact-us) --- # Links | Extra Finance **Dune Analytics - Extra Finance** [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fdune.com%2Fassets%2Fapple-touch-icon.png&width=20&dpr=3&quality=100&sign=9768c621&sv=2)Extra | DuneDunechevron-right](https://dune.com/extrafi/extra) **Defillama - Extra Finance** [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fdefillama.com%2Ffavicon.ico&width=20&dpr=3&quality=100&sign=1bb67ace&sv=2)Extra Finance TVL, Fees, Revenue & Income StatementDefiLlamachevron-right](https://defillama.com/protocol/extra-finance) **Base Ecosystem Projects - Extra Finance** [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fwww.base.org%2Fdocument%2Fapple-touch-icon.png&width=20&dpr=3&quality=100&sign=92077f7c&sv=2)Base | Ecosystembasechevron-right](https://www.base.org/ecosystem?tag=defi) **DeBank Official Account - Extra Finance** [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fassets.debank.com%2Ffavicon.ico&width=20&dpr=3&quality=100&sign=8d56c62b&sv=2)DeBank | Your go-to portfolio tracker for Ethereum and EVMDeBankchevron-right](https://debank.com/official/Extra_Finance) [PreviousBrand Assetschevron-left](https://docs.extrafi.io/extra_finance/resources/brand-assets) [NextTerm of Usechevron-right](https://docs.extrafi.io/extra_finance/resources/term-of-use) Last updated 1 year ago --- # Allocation & Emission | Extra Finance [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#allocation) Allocation ---------------------------------------------------------------------------------------------------------------------------- The `$EXTRA` token has a hard cap of **1,000,000,000** tokens, with the following allocation: ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fzb0OE1X8ZmizYzXYBt17%252FAllocation%25401x.png%3Falt%3Dmedia%26token%3D993b5c61-c874-4490-80ac-5cc992c2600d&width=768&dpr=3&quality=100&sign=c2472943&sv=2) circle-info The owner authority of EXTRA token contract has been destroyed. Verify [herearrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8#readContract#F6) . No more EXTRA can be minted. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#id-60-600-000-000-for-the-community) \* 60% (600,000,000) for the community Monthly unlock for a period of 3 years. Monthly emissions start at 20M $EXTRA (2% of the total supply) and decay at 1% per month. Emissions are planned to be allocated to: * Procotol Incentives, eg. lending pools, farming pools on Extra Finance * `$EXTRA` token liquidity pools on mainstream DEXes like Velodrome * `$veEXTRA` holders (`$EXTRA`token staking users) according to a well-defined plan that aligns with the stage of protocol development. For instance, during the early stages of the protocol, emissions primarily focus on lending pools on Extra Finance. This ensures that liquidity providers can borrow their desired amount of assets to implement leveraged farming. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#id-26-260-000-000-for-ecosystem-growth-and-partnerships) \* 26% (260,000,000) for ecosystem growth and partnerships Quarterly unlock for a period of 3 years. Each quarter unlocks 2% of the total supply. This section primarily focuses on protocol-to-protocol collaborations, protocol grants, and business development initiatives. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#id-10-100-000-000-for-team) \* 10% (100,000,000) for team 6-month cliff period + 30-month vesting period under a quarterly unlock plan. (After 6 month locking period, each quarter unlocks 1% of the total supply.) #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#id-3-30-000-000-for-airdrop) \* 3% (30,000,000) for airdrop A comprehensive airdrop plan will be unveiled through our official blog, outlining the specific details and schedule. The airdrop itself will be executed in a series of sequential batches, with allocations designated for the community, ecosystem participants, and early users of the protocol. The initial airdrop will be carried out by the team, while subsequent airdrops will adhere to established governance procedures. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#id-1-10-000-000-for-initial-liquidity) \* 1% (10,000,000) for initial liquidity To create liquidity pools for `$EXTRA` token on mainstream DEXes. The initial liquidity pool would be `EXTRA-USDC` on Velodrome. ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#airdrop-scope) Airdrop Scope * Testnet early users with valid feedback (including randomly selected Galxe OATs holders) * Top Optimism ecosystem delegators * Extra Finance Community OG & Zealy Adventures * TVL Contribution Event winners (Round 1&2) * Velodrome Users: both a liquidity provider **AND** a veVELO holder * Leverage yield farming enthusiasts _(The airdrop will be conducted in sequential batches.)_ ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#vesting-schedule) Vesting Schedule `$EXTRA` token vesting plan is as follows, all tokens with a cap of 1,000,000,000 will be unlocked by the end of 36 months since its token launch. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F5sFs7e8VsdkX0tKKYQYj%252Fimage.png%3Falt%3Dmedia%26token%3Da6a05c31-2d7c-4e8c-ad4b-cae84929445e&width=768&dpr=3&quality=100&sign=54c67aa6&sv=2) A monthly schedule of EXTRA token ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#circulating-token-supply) CIRCULATING TOKEN SUPPLY $EXTRA CIRCULATING TOKEN SUPPLY [Previousve-Mechanism & Utilitychevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/ve-mechanism-and-utility) [NextStakingchevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking) Last updated 2 years ago * [Allocation](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#allocation) * [Airdrop Scope](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#airdrop-scope) * [Vesting Schedule](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#vesting-schedule) * [CIRCULATING TOKEN SUPPLY](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission#circulating-token-supply) --- # Staking | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#why-staking) Why Staking? * Earn weekly APR rewards * Unlock a higher leverage rate * Unlock one-click rebalance feature (Coming soon ⬇️) * Participate in governance (proposal and voting) * Privilege to lending pools with high utilization * Unlock advanced farming tools * (More to come) ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#staking-explanation) Staking Explanation #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#epoch) Epoch * Epoch is the minimal lock-up unit to lock `$EXTRA` tokens to veEXTRA. On Extra Finance, one epoch is 7 days. * The start time of each epoch is UTC 00:00 every Thursday and ends at UTC 00:00 next Thursday. * A unlock date can only be the end time of each epoch. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#staking-reward-allocation) Staking Reward Allocation * **Reward source**: staking rewards are sourced from both `$EXTRA` token emissions AND part of protocol fees accumulated in the last (i.e. n-1) epoch, all rewards will be swapped and collected as `$EXTRA` tokens for distribution for each epoch. * Reward allocations are based on your veEXTRA balance snapshotted **at the beginning of an epoch** and will be allocated proportionally. * The rewards accumulated during an epoch can be claimed after the end of that epoch. (Notice: If you deposit in the middle of an epoch, there won't be rewards for that epoch. You will be eligible to gain staking rewards after the next epoch ends. That is to say, a full epoch is required to claim rewards.) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FKjrZlt2vdWwQs1zwh4h9%252Fimage.png%3Falt%3Dmedia%26token%3D70b6bb4d-a6ee-460a-a3f3-a222956ef1f9&width=768&dpr=3&quality=100&sign=fea01a98&sv=2) eligible to claim staking rewards for epoch 2 ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F96Xk0VTVNzofH6PLoY6J%252Fimage.png%3Falt%3Dmedia%26token%3D11bc7e90-806c-4b6e-95e1-598957a6307a&width=768&dpr=3&quality=100&sign=24a4d838&sv=2) NOT eligible to claim staking rewards for epoch 2 ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#step-by-step-guide) Step-by-Step Guide [How to Stake (to veEXTRA)chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking/how-to-stake-to-veextra) [PreviousAllocation & Emissionchevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/allocation-and-emission) [NextHow to Stake (to veEXTRA)chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking/how-to-stake-to-veextra) Last updated 2 years ago * [Why Staking?](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#why-staking) * [Staking Explanation](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#staking-explanation) * [Step-by-Step Guide](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking#step-by-step-guide) --- # Pool Info | Extra Finance ExtraFi's Farming Pools Info, continuously updated. Some information might not be updated promptly. As such, the data displayed in our app and farming page should be regarded as the primary source. [ExtraFi Pool Infoarrow-up-right](https://extrafi.notion.site/16891053588a4c108b17b0db068a91e4?v=1ff3614fd04b452e8bc3cb3420d8f415) **Optimism** Pool Liquidation Threshold (Debt Ratio) Leverage Listed Vault ID **Volatile** USDC/VELO 83.33% 3x 4x (Premium) ✅ 101 USDC/wstETH 83.33% 3x 4x (Premium) ✅ 103 USDC/ OP 83.33% 3x 4x (Premium) ✅ 108 USDC/TAROT 83.33% 3x ✅ 97 USDC/EXTRA 83.33% 2x ✅ 104 USDC/SONNE 83.33% 2x ✅ 116 OP/USDC.e 83.33% 3x 4x (Premium) ✅ 48 USDC.e/VELO 83.33% 3x 4x (Premium) ✅ 35 WETH/USDC.e 83.33% 3x 4x (Premium) ✅ 36 USDC.e/SNX 83.33% 3x ✅ 37 STG/USDC.e 83.33% 3x ✅ 38 LYRA/USDC.e 83.33% 3x ✅ 39 USDC.e/wUSDR ~90.00%~ 86.00% (Updated Nov 22, 2023) 3x ✅ 82 TAROT/USDC.e 83.33% 3x ✅ 80 USDC.e/PERP 83.33% 1x ✅ 86 GNode/USDC.e 80.00% 1x ✅ 83 USDC.e/agEUR 83.33% 1x ✅ 75 SONNE/USDC.e 83.33% 1x ✅ 40 wstETH/WETH 90.00% 3x 5x (Premium) ✅ 93 THALES/WETH 83.33% 3x ✅ 45 WETH/OP 83.33% 3x ✅ 41 WETH/KWENTA 83.33% 3x ✅ 47 WETH/LUSD 83.33% 3x ✅ 102 2192/WETH 83.33% 2x ✅ 115 EXA/WETH 83.33% 1x ✅ 70 wstETH/OP 83.33% 3x 4x (Premium) ✅ 42 OP/VELO 83.33% 3x ✅ 44 FRAX/OP 83.33% 3x ✅ 66 OP/DHT 83.33% 2x ✅ 85 RED/VELO 80.00% 1x ✅ 68 RED/OP 83.33% 1x ✅ 69 VELO/BLU 83.33% 1x ✅ 81 **Stable** USDC/DOLA 90.00% 3x 5x (Premium) ✅ 105 USDC/sUSD 90.00% 3x 5x (Premium) ✅ 114 USDC/msUSD 90.00% 3x 5x (Premium) ✅ 117 USDC/ERN 90.00% 3x 98 USDC/USDV 88.00% 3x ✅ 106 USDC/USX 90.00% 3x ✅ 107 USDC.e/DOLA 90.00% 3x 5x (Premium) ✅ 50 USDC.e/msUSD 90.00% 3x 5x (Premium) ✅ 90 USDC.e/USX 90.00% 3x 5x (Premium) ✅ 49 USDC.e/sUSD 90.00% 3x 5x (Premium) ✅ 72 USDC.e/alUSD 90.00% 3x 5x (Premium) ✅ 73 USDV/USDC.e 90.00% 3x ✅ 96 USDC.e/MAI 86.00% 3x ✅ 54 FRAX/DOLA 90.00% 3x 5x (Premium) ✅ 52 CHI/DAI 90.00% 3x 5x (Premium) ✅ 57 msETH/WETH 90.00% 3x 5x (Premium) ✅ 62 alETH/WETH 90.00% 3x 5x (Premium) ✅ 61 WETH/frxETH 90.00% 3x ✅ 58 pxETH/WETH 83.33% 3x ✅ 118 USDT/LUSD 90.00% 3x 5x (Premium) ✅ 99 msOP/OP 90.00% 3x ✅ 92 **Base** Pool Liquidation Threshold (Debt Ratio) Leverage Listed Vault ID **Volatile** WETH/USDC 83.33% 3x 4x (Premium) ✅ 25 USDC/AERO 83.33% 3x 4x (Premium) ✅ 28 SONNE/USDC 83.33% 2x ✅ 30 wUSDR/USDbC 86.00% 3x ✅ 1 WETH/USDbC 83.33% 3x ✅ 4 AERO/USDbC 83.33% 3x ✅ 5 SONNE/USDbC 83.33% 3x ✅ 18 WETH/wstETH 90.00% 3x 5x (Premium) ✅ 21 cbETH/WETH 90.00% 3x 5x (Premium) ✅ 6 WETH/AERO 83.33% 3x 4x (Premium) ✅ 39 WETH/TAROT 83.33% 3x ✅ 2 tBTC/WETH 83.33% 3x ✅ 9 WETH/DEUS 83.33% 3x ✅ 12 WETH/WELL 83.33% 3x ✅ 17 GB/WETH 83.33% 3x ✅ 38 WETH/MET 83.33% 3x ✅ 42 WETH/THALES 83.33% 3x ✅ 43 VIRTUAL/WETH 83.33% 3x ✅ 45 WETH/SEXY 83.33% 3x ✅ 46 WETH/TKN 83.33% 3x ✅ 47 EXTRA/WETH 83.33% 2x ✅ 33 WETH/DOG 80.00% 2x ✅ 34 TYBG/WETH 83.33% 2x ✅ 35 WETH/bsdETH 83.33% 3x ✅ 36 WETH/WELS 83.33% 2x ✅ 37 wBaseDOGE/WETH 83.33% 2x ✅ 48 WETH/DEGEN 83.33% 2x ✅ 49 OVN/USD+ 83.33% 3x ✅ 20 AERO/wstETH 83.33% 3x ✅ 22 EXTRA/AERO 83.33% 2x ✅ 40 **Stable** USDC/USDbC 90.00% 3x 5x (Premium) ✅ 19 DOLA/USDC 90.00% 3x 5x (Premium) ✅ 26 USDC/MAI 90.00% 3x 5x (Premium) ✅ 27 USDC/eUSD 90.00% 3x 5x (Premium) ✅ 29 DAI/USDC 90.00% 3x 5x (Premium) ✅ 31 USDC/STAR 83.33% 3x 5x (Premium) ✅ 41 LUSD/USDC 90.00% 3x 5x (Premium) ✅ 44 DOLA/USDbC 90.00% 3x 5x (Premium) ✅ 7 eUSD/USDbC 90.00% 3x ✅ 24 DOLA/MAI 90.00% 3x 5x (Premium) ✅ 13 circle-info **New Pool Request** If you have any suggestions on new pools to be listed, feel free to reach out to us via Discord or email. We'd love to hear from you. [Contact us. arrow-up-right](https://docs.extrafi.io/extra_finance/#support) [PreviousMarket Neutral Strategychevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/strategy/market-neutral-strategy) [NextPrice Feedchevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/price-feed) Last updated 1 year ago --- # How to Stake (to veEXTRA) | Extra Finance (If you don't have EXTRA yet, swap some here ⬇️) [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Fvelodrome.finance%2Fimages%2FVELO%2Ffavicon.ico&width=20&dpr=3&quality=100&sign=31b67ccd&sv=2)Velodrome Finance: The central trading and liquidity marketplace on Optimism network.Velodrome Financechevron-right](https://velodrome.finance/) [![Logo](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2Faerodrome.finance%2Fimages%2FAERO%2Ffavicon.ico&width=20&dpr=3&quality=100&sign=a4d6263&sv=2)Aerodrome Finance: The central trading and liquidity marketplace on Base network.Aerodrome Financechevron-right](https://aerodrome.finance/) **To stake $EXTRA, simply follow the steps below:** Video Tutorial： Text Tutorial: 1. Visit the “Staking” page of Extra Finance 2. Connect to your Web3 wallet (such as [MetaMask](https://docs.extrafi.io/extra_finance/getting-started/metamask) . Please ensure you have sufficient ETH to cover on-chain gas fees.) 3. After connecting your wallet, you'll see detailed info on the total Staking Pool, including: * EXTRA Price - the current price of EXTRA token. * Max APR - the highest potential interest rate that can be earned by locking up EXTRA tokens. * Total Locked - the total amount of EXTRA tokens that have been locked. * Total veEXTRA - the total amount of EXTRA tokens that have been locked the staking pool. * Average Lock Duration - the average length of lock days that EXTRA tokens are required to remain locked. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FhwkxneRo3b06nvnuS0dx%252Fimage.png%3Falt%3Dmedia%26token%3Dc04e5d6d-7d62-4ed8-86ff-cf4538298413&width=768&dpr=3&quality=100&sign=6c3b2d8&sv=2) 1. Click on “Start Lock” at the bottom right corner, input the staking amount of $EXTRA, and choose Lock Days. (Please note that the minimum lock days is 7. By dragging the 'Lock Days' bar, you can instantly observe the corresponding APR displayed.) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FVSU7A5ZXAwn3PCLElW9v%252Fimage.png%3Falt%3Dmedia%26token%3Ddb76f9ac-cc48-4c28-b0d4-41a294db27b0&width=768&dpr=3&quality=100&sign=d3b24c4d&sv=2) 1. Click on “Lock” and confirm the transaction in your wallet. 2. After locking your EXTRA, you can see the following info from the UI: * EXTRA & veEXTRA Balance in your wallet. * Locked - the amount of EXTRA you locked. * My Locking APR - real-time APR for your locked EXTRA. * Pending Rewards - real-time rewards for your locked EXTRA. * Next Rewards Time - the rewards accumulated during each epoch can be claimed after the end of that epoch. (More info can be checked here: [Staking Reward Allocation](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking) ). ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F1tzk7zAGqFst7WYQZe5H%252Fimage.png%3Falt%3Dmedia%26token%3D0e774898-7a5a-46e2-9a43-5abee7ed0cb5&width=768&dpr=3&quality=100&sign=4d1b48e7&sv=2) 1. To increase the lock amount of EXTRA, click on the “Increase Lock Amount” option. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Ff8Xo8L5m8KnEJRGrURId%252Fimage.png%3Falt%3Dmedia%26token%3D202ea580-8e94-4b3e-9ede-663ae601ff9a&width=768&dpr=3&quality=100&sign=3d870ce&sv=2) 1. To extend the lock duration for your EXTRA, click on the "Increase Duration" option. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FlFTtEzJqsNUOByyFsvsT%252Fimage.png%3Falt%3Dmedia%26token%3Db94e16c7-e0cc-4127-ac9b-0a60ec27d43f&width=768&dpr=3&quality=100&sign=3a4e3595&sv=2) **To unstake your EXTRA, go to the “Staking” page and click on “Unlock” when it’s the unlock time.** [PreviousStakingchevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking) [NextParam & Feechevron-right](https://docs.extrafi.io/extra_finance/resources/param-and-fee) Last updated 2 years ago --- # Roadmap | Extra Finance [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-roadmap-for-extrafi-lyf) 2025 Roadmap for Extrafi LYF ------------------------------------------------------------------------------------------------------------------------------------ This roadmap, focused on enhancing leveraged yield farming (LYF), highlights key milestones for the upcoming year. For details on [XLendarrow-up-right](https://xlend.extrafi.io/) ’s roadmap, please refer [herearrow-up-right](https://docs.extrafi.io/extrafi-xlend/roadmap) . ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q1-strengthening-the-foundation) **2025 Q1: Strengthening the Foundation** * Launch EXTRA Staking on Base * Research on DEX integration and expansion (long-term) * Implement a Notification System to provide real-time alerts for position status ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q2-streamlining-user-efficiency) 2025 Q2: Streamlining User Efficiency * Launch **ExtraZap**, a swap module for seamless position opening, closing, and adjustments * Pre-research on leveraged products on CLAMM (note: technically ready, need to confirm PMF) ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q3-exploring-new-frontiers) 2025 Q3: Exploring New Frontiers * Conduct research into Perp DEX integrations * Growth in the Superchain ecosystem ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q4-advanced-yield-optimization) 2025 Q4: Advanced Yield Optimization * Introduce **ExtraVault**, a yield optimization product [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#archive-for-reference) Archive for reference ------------------------------------------------------------------------------------------------------------------- ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#undefined) \----- ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q1) 2023 Q1 * ✅ Testnet Release - Leverage Yield Farming on Velodrome ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q2) 2023 Q2 * ✅ **Mainnet Launch** - Leverage Yield Farming on Velodrome * ✅ Tokenomics ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q3) 2023 Q3 * ✅ One-click Yield Farming Templates * ✅ Optimization for Stablecoin & LST Leveraged Farming Pools * ⏳ CLAMM Liquidity Pools Integration * ✅ Yield Farming Simulation & Calculation Tool ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q4) 2023 Q4 * ⏳ Release of Advanced Strategy Vaults ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q1) 2024 Q1 * ✅ Leaderboard: User-to-User Yield Strategy Following * ⏳ Extra Finance V2 (Testnet) ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q2) 2024 Q2 * Extra Finance V2 (Beta) * More DEX/AMM Integrations ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q3) 2024 Q3 * EX-Points Program for Extra Finance V2 * Growth plan for Superchain ecosystem * Perp DEX (xLP Pools) integrations ### [hashtag](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q4) 2024 Q4 * 👀 Extra Finance L3 powered by Superchain [PreviousParam & Feechevron-left](https://docs.extrafi.io/extra_finance/resources/param-and-fee) [NextBrand Assetschevron-right](https://docs.extrafi.io/extra_finance/resources/brand-assets) Last updated 1 year ago * [2025 Roadmap for Extrafi LYF](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-roadmap-for-extrafi-lyf) * [2025 Q1: Strengthening the Foundation](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q1-strengthening-the-foundation) * [2025 Q2: Streamlining User Efficiency](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q2-streamlining-user-efficiency) * [2025 Q3: Exploring New Frontiers](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q3-exploring-new-frontiers) * [2025 Q4: Advanced Yield Optimization](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2025-q4-advanced-yield-optimization) * [Archive for reference](https://docs.extrafi.io/extra_finance/resources/roadmap#archive-for-reference) * [\-----](https://docs.extrafi.io/extra_finance/resources/roadmap#undefined) * [2023 Q1](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q1) * [2023 Q2](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q2) * [2023 Q3](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q3) * [2023 Q4](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2023-q4) * [2024 Q1](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q1) * [2024 Q2](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q2) * [2024 Q3](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q3) * [2024 Q4](https://docs.extrafi.io/extra_finance/resources/roadmap#id-2024-q4) --- # Brand Assets | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FoZXHfENwXhFm1NluEDW2%252FExtraFinance-BrandAssets.png%3Falt%3Dmedia%26token%3D48698cde-f893-4a8a-bee6-2d633efcff9a&width=768&dpr=3&quality=100&sign=a5820f3d&sv=2) [https://drive.google.com/drive/folders/1PaGS9CzehLXhML0C5j2qNUSlQl3s-yFH?usp=drive\_linkarrow-up-right](https://drive.google.com/drive/folders/1PaGS9CzehLXhML0C5j2qNUSlQl3s-yFH?usp=drive_link) [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#brand-usage-guidelines) Brand Usage Guidelines -------------------------------------------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252F9c8kdg20pA30IpgZWvxD%252FBrand%2520Usage%2520Guidelines.png%3Falt%3Dmedia%26token%3Dcef2aac2-481d-4857-9f3c-0c3b7b4b5f54&width=768&dpr=3&quality=100&sign=6ff037f5&sv=2)![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fnw13dIJLzxmQeDcguqi3%252FBrand%2520Usage%2520Guidelines-darkmode.png%3Falt%3Dmedia%26token%3D082e690c-d490-46b1-b372-2e9559576fa1&width=768&dpr=3&quality=100&sign=7e23aebd&sv=2) Both **Extrafi** and **Extra Finance** are acceptable terms to use. Choose based on your needs. When you have ample space and need only one logo, Extra Finance offers better visual impact. In most other cases, we recommend using **Extrafi**. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252Fb8ZkfylXcXqr1JFYxEUM%252FExtrafi%2520demo.png%3Falt%3Dmedia%26token%3D23a11c8c-75e1-4f3b-b2a7-3fe4ce705da9&width=768&dpr=3&quality=100&sign=86d28d02&sv=2) ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FP0c6L4WbYphDfgR8Xni9%252FExtra%2520finance%2520demo.png%3Falt%3Dmedia%26token%3D9f773d2f-80f9-47ca-be5a-9e1a26f7ccbe&width=768&dpr=3&quality=100&sign=468436c3&sv=2) Both **Extrafi** and **Extra Finance** are available in four color variations. Here are the usage guidelines: * For dark backgrounds, use the white or pure white logo. * For light backgrounds, use the black or pure black logo. * When the background is close to _Extrafi Blue_, use the pure white logo to ensure clarity and legibility of all logo elements. [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#abbreviation-ex-usage-for-extrafi) Abbreviation (Ex) Usage for Extrafi -------------------------------------------------------------------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FIx0j1jkPT06L76RM4ie3%252FEX%2520demo.png%3Falt%3Dmedia%26token%3D53015728-47ab-4c2b-aafc-d23bb47ea9b1&width=768&dpr=3&quality=100&sign=b76db24b&sv=2) For the abbreviation Ex, follow these guidelines: * Use white or pure white logo on dark backgrounds * Use black or pure black logo on light backgrounds * Use pure white logo on _ExtraFi Blue_ backgrounds for optimal visibility [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#modifications-for-extrafi-and-extra-finance) Modifications for Extrafi and Extra Finance -------------------------------------------------------------------------------------------------------------------------------------------------------------------- The standard logos for **Extrafi** and **Extra Finance** use three main colors, as shown below. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOrmmn948bu4Oxx3VXh3W%252FColor%2520Palette.png%3Falt%3Dmedia%26token%3D192a6f76-f2e1-4b50-a683-f1fff9c52814&width=768&dpr=3&quality=100&sign=d800e8b9&sv=2) We provide logo assets in SVG format, allowing for color adjustments when needed. Important: Only modify colors on the pure white version of the logo, and always ensure the logo remains clearly visible. See examples below for proper and improper usage. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FxDq5BLDkRQscq24UnBVm%252Fproper%2520and%2520improper%2520usage.png%3Falt%3Dmedia%26token%3Df4d08145-42d8-4f24-a05c-a5024c9924dc&width=768&dpr=3&quality=100&sign=c8904d1a&sv=2) [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#token-logo) Token Logo -------------------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FUvdaSxbNCIgIyUhisFOY%252Fextrafi-blue%2520ring.png%3Falt%3Dmedia%26token%3D131f903d-b1b1-4b9c-b601-289952a230b1&width=768&dpr=3&quality=100&sign=6267aeeb&sv=2) The official Extrafi token logo helps protect users from fraud. Avoid unnecessary modifications. When adapting the logo for promotional materials, maintain its core recognizability. Acceptable modifications include 3D modeling, rotation effects, transparency adjustments, and decorative borders. [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#download) Download ---------------------------------------------------------------------------------------------- ### [hashtag](https://docs.extrafi.io/extra_finance/resources/brand-assets#png) PNG file-image 14KB [Extra Finance-Black.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2F6i1oTZadw5EvHuGAP5eQ%2FExtra%20Finance-Black.png?alt=media&token=6b3177f7-0f9f-48c7-ac6d-729b63a1310c) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2F6i1oTZadw5EvHuGAP5eQ%2FExtra%20Finance-Black.png?alt=media&token=6b3177f7-0f9f-48c7-ac6d-729b63a1310c) file-image 14KB [Extra Finance-White.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FxGBMOChBsLw6fldetF8Q%2FExtra%20Finance-White.png?alt=media&token=b82cd3a6-aebf-4a9a-b8c9-37e1782c1389) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FxGBMOChBsLw6fldetF8Q%2FExtra%20Finance-White.png?alt=media&token=b82cd3a6-aebf-4a9a-b8c9-37e1782c1389) file-image 14KB [Extra Finance-Pure White.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FKd5VSnmJH0tdkyDXdRNJ%2FExtra%20Finance-Pure%20White.png?alt=media&token=1171778d-4f85-49a6-b9e7-0690c9b24ae6) image 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Background.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2F97YN98XxwcUXG2M5fe8V%2FExtrafi-Blue%20Background.png?alt=media&token=38ad160e-e7e7-433c-9a80-b5893b0d2027) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2F97YN98XxwcUXG2M5fe8V%2FExtrafi-Blue%20Background.png?alt=media&token=38ad160e-e7e7-433c-9a80-b5893b0d2027) file-image 6KB [EX logo-Black.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2F1fBDr1rWBKPKOAlyakKT%2FEX%20logo-Black.png?alt=media&token=7b1890a2-a85a-4706-9c60-496f6f2d1a46) image 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Ring.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2Fi4k1p2tK1Cp6muACwijS%2FExtrafi-White%20Ring.png?alt=media&token=835f8105-7f2e-489d-b8f7-a378a515ce73) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2Fi4k1p2tK1Cp6muACwijS%2FExtrafi-White%20Ring.png?alt=media&token=835f8105-7f2e-489d-b8f7-a378a515ce73) file-image 10KB [Extrafi-Blue Ring.png](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FLkc8pqUEFkUr3AJmGWNy%2FExtrafi-Blue%20Ring.png?alt=media&token=d925ee42-8b0f-4fe2-9e0e-897fd2af529e) image 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logo-White.svg](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FUfqWOEfaORN7wMCLRUqz%2FEX%20logo-White.svg?alt=media&token=ca9d522a-5fc4-41b2-b20c-de5dc8c36207) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FUfqWOEfaORN7wMCLRUqz%2FEX%20logo-White.svg?alt=media&token=ca9d522a-5fc4-41b2-b20c-de5dc8c36207) file-image 1KB [EX logo-Pure White.svg](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FbnGfM2RtQccH7idqV99r%2FEX%20logo-Pure%20White.svg?alt=media&token=5db0f10f-7270-408d-8b0d-766a82a5f4e3) image 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Ring.svg](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FQeJu9iqHEkeKZmgLRtnX%2FExtrafi-Black%20Ring.svg?alt=media&token=124b2b5e-bfc9-4b04-a040-75c5b0e52edb) image downloadDownload[arrow-up-right-from-squareOpen](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FQeJu9iqHEkeKZmgLRtnX%2FExtrafi-Black%20Ring.svg?alt=media&token=124b2b5e-bfc9-4b04-a040-75c5b0e52edb) file-image 1KB [Extrafi-Blue Ring.svg](https://3038127767-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHdS59PJdwI8kEK3vLZuH%2Fuploads%2FckKTd7pHfbbyp4jnPE8D%2FExtrafi-Blue%20Ring.svg?alt=media&token=c1ea26cf-31e1-468f-9b77-b51a21dc5f74) image 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ago * [Brand Usage Guidelines](https://docs.extrafi.io/extra_finance/resources/brand-assets#brand-usage-guidelines) * [Abbreviation (Ex) Usage for Extrafi](https://docs.extrafi.io/extra_finance/resources/brand-assets#abbreviation-ex-usage-for-extrafi) * [Modifications for Extrafi and Extra Finance](https://docs.extrafi.io/extra_finance/resources/brand-assets#modifications-for-extrafi-and-extra-finance) * [Token Logo](https://docs.extrafi.io/extra_finance/resources/brand-assets#token-logo) * [Download](https://docs.extrafi.io/extra_finance/resources/brand-assets#download) * [PNG](https://docs.extrafi.io/extra_finance/resources/brand-assets#png) * [SVG](https://docs.extrafi.io/extra_finance/resources/brand-assets#svg) --- # Allocation & Emission V2 | Extra Finance [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#allocation-v2) Allocation V2 ----------------------------------------------------------------------------------------------------------------------- The `$EXTRA` token has a hard cap of **1,000,000,000** tokens, with the following allocation. circle-info The owner authority of EXTRA token contract has been destroyed. Verify [herearrow-up-right](https://optimistic.etherscan.io/token/0x2dad3a13ef0c6366220f989157009e501e7938f8#readContract#F6) . No more `$EXTRA` can be minted. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#id-60-600-000-000-for-the-community) \* 60% (600,000,000) for the community Monthly unlock: * V1 (Jun 2023 to Jan 2024): Monthly emissions start at 20M `$EXTRA` and decay at 1% per month. * V2 (Feb 2024 - ): Monthly emissions are 10M `$EXTRA`, and decay at 1% per month. Emissions are planned to be allocated to: * Procotol Incentives, eg. lending pools, farming pools on Extra Finance * `$EXTRA` token liquidity pools on mainstream DEXes like Velodrome * `$veEXTRA` holders (`$EXTRA`token staking users) According to a well-defined plan that aligns with the stage of protocol development. For instance, during the early stages of the protocol, emissions primarily focus on lending pools on Extra Finance. This ensures that liquidity providers can borrow their desired amount of assets to implement leveraged farming. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#id-26-260-000-000-for-ecosystem-growth-partnerships-and-early-supporters) \* 26% (260,000,000) for ecosystem growth, partnerships and early supporters Quarterly unlock: * V1 (Jun 2023 to Jan 2024): Each quarter unlocks 20M `$EXTRA`. * V2 (Feb 2024 - ): Each quarter unlocks 10M `$EXTRA`. This section primarily focuses on protocol-to-protocol collaborations, protocol grants, and business development initiatives. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#id-10-100-000-000-for-team) \* 10% (100,000,000) for team 12-month cliff period + 30-month vesting period under a quarterly unlock plan. (After 12 month locking period, each quarter unlocks 1% of the total supply.) #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#id-3-30-000-000-for-airdrop) \* 3% (30,000,000) for airdrop The initial airdrop was completed in July 2023, while subsequent airdrops will adhere to established governance procedures. All unclaimed airdrop tokens were burnt according to the plan on Oct 9th 2023, totaling 20,552,443 `$EXTRA`. #### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#id-1-10-000-000-for-initial-liquidity) \* 1% (10,000,000) for initial liquidity To create liquidity pools for `$EXTRA` token on mainstream DEXes. The initial liquidity pools for OP and Base have listed on Velodrome and Aerodrome respectively, including `EXTRA/USDC` and `EXTRA/VELO` on [Velodromearrow-up-right](https://velodrome.finance/liquidity?query=EXTRA) , `EXTRA/USDbC`, `EXTRA/WETH` and `EXTRA/USDC` on [Aerodromearrow-up-right](https://aerodrome.finance/liquidity?query=EXTRA) . ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#burn) Burn * **Quarterly Burn of Unused Tokens** A community-driven approach will be implemented to burn a specific percentage of the remaining tokens each quarter. The exact percentage will be determined by the community on Snapshot every quarter. For 2023 Q4, of the monthly emissions `$EXTRA` allocated to the community, we will burn 30% and allocate the remaining 70% to the treasury, which is the proportion decided by the community vote. ([https://discord.com/channels/1009330898967212063/1186612128417857576/1186612128417857576arrow-up-right](https://discord.com/channels/1009330898967212063/1186612128417857576/1186612128417857576) ) * **Epoch Regular Burn** Starting from July 2024, a certain percentage of $EXTRA tokens bought back during each epoch will be burned, based on community proposals. For details, please refer to the community proposal. ([https://snapshot.org/#/extradao.eth/proposal/0xf4c0fd92afdec909b76213e599526a7005b82b99f7948a12c3d7ad1c53d660f3arrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0xf4c0fd92afdec909b76213e599526a7005b82b99f7948a12c3d7ad1c53d660f3) ) * **Token Burn Record** [**https://extrafi.notion.site/EXTRA-Token-Burn-Records-70aba7747ac3432a82be10ad46687bc0**arrow-up-right](https://extrafi.notion.site/EXTRA-Token-Burn-Records-70aba7747ac3432a82be10ad46687bc0) ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#vesting-schedule-v2) Vesting Schedule V2 `$EXTRA` token vesting plan V2 is as follows. ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FlMZDBe6IHh7lSMCDcpe9%252Fimage.png%3Falt%3Dmedia%26token%3Dfdf3934f-1f68-4fc1-adcd-1f42d5dc2c8b&width=768&dpr=3&quality=100&sign=728bbce6&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#circulating-token-supply-v2) CIRCULATING TOKEN SUPPLY V2 CIRCULATING TOKEN SUPPLY (MONTHLY) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 Community 20,000,000 39,800,000 59,402,000 78,807,980 98,019,900 117,039,701 135,869,304 145,189,958 154,417,405 163,552,577 172,596,398 181,549,780 190,413,629 199,188,839 207,876,297 216,476,881 224,991,459 233,420,891 241,766,028 250,027,714 258,206,784 266,304,063 274,320,368 282,256,511 290,113,293 297,891,506 305,591,938 313,215,365 320,762,558 328,234,279 335,631,282 342,954,316 350,204,119 357,381,425 364,486,957 371,521,434 378,485,566 385,380,057 392,205,603 398,962,894 405,652,611 412,275,432 418,832,024 425,323,050 431,749,166 438,111,021 444,409,257 450,644,511 456,817,413 462,928,585 468,978,646 474,968,206 480,897,870 486,768,238 492,579,902 498,333,450 504,029,462 509,668,514 515,251,175 520,778,010 526,249,576 531,666,427 537,029,109 542,338,165 547,594,129 552,797,535 557,948,906 563,048,763 568,097,622 573,095,992 578,044,379 582,943,282 587,793,196 592,594,610 597,348,011 600,000,000 Ecosystem Fund 20,000,000 20,000,000 20,000,000 40,000,000 40,000,000 40,000,000 60,000,000 60,000,000 60,000,000 70,000,000 70,000,000 70,000,000 80,000,000 80,000,000 80,000,000 90,000,000 90,000,000 90,000,000 100,000,000 100,000,000 100,000,000 110,000,000 110,000,000 110,000,000 120,000,000 120,000,000 120,000,000 130,000,000 130,000,000 130,000,000 140,000,000 140,000,000 140,000,000 150,000,000 150,000,000 150,000,000 160,000,000 160,000,000 160,000,000 170,000,000 170,000,000 170,000,000 180,000,000 180,000,000 180,000,000 190,000,000 190,000,000 190,000,000 200,000,000 200,000,000 200,000,000 210,000,000 210,000,000 210,000,000 220,000,000 220,000,000 220,000,000 230,000,000 230,000,000 230,000,000 240,000,000 240,000,000 240,000,000 250,000,000 250,000,000 250,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 Initial Liquidity 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 Team \- \- \- \- \- \- \- \- \- \- \- \- 10,000,000 10,000,000 10,000,000 20,000,000 20,000,000 20,000,000 30,000,000 30,000,000 30,000,000 40,000,000 40,000,000 40,000,000 50,000,000 50,000,000 50,000,000 60,000,000 60,000,000 60,000,000 70,000,000 70,000,000 70,000,000 80,000,000 80,000,000 80,000,000 90,000,000 90,000,000 90,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 Airdrop 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 Circulating Supply 80,000,000 99,800,000 119,402,000 158,807,980 178,019,900 197,039,701 235,869,304 245,189,958 254,417,405 273,552,577 282,596,398 291,549,780 320,413,629 329,188,839 337,876,297 366,476,881 374,991,459 383,420,891 411,766,028 420,027,714 428,206,784 456,304,063 464,320,368 472,256,511 500,113,293 507,891,506 515,591,938 543,215,365 550,762,558 558,234,279 585,631,282 592,954,316 600,204,119 627,381,425 634,486,957 641,521,434 668,485,566 675,380,057 682,205,603 708,962,894 715,652,611 722,275,432 738,832,024 745,323,050 751,749,166 768,111,021 774,409,257 780,644,511 796,817,413 802,928,585 808,978,646 824,968,206 830,897,870 836,768,238 852,579,902 858,333,450 864,029,462 879,668,514 885,251,175 890,778,010 906,249,576 911,666,427 917,029,109 932,338,165 937,594,129 942,797,535 957,948,906 963,048,763 968,097,622 973,095,992 978,044,379 982,943,282 987,793,196 992,594,610 997,348,011 1,000,000,000 [Previousve-Mechanism & Utility V2chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2) [NextStaking V2chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/staking-v2) Last updated 1 year ago * [Allocation V2](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#allocation-v2) * [Burn](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#burn) * [Vesting Schedule V2](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#vesting-schedule-v2) * [CIRCULATING TOKEN SUPPLY V2](https://docs.extrafi.io/extra_finance/tokenomics/allocation-and-emission-v2#circulating-token-supply-v2) --- # Introduction to Leveraged Yield Farming | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOpRUeYe0NK27bUW9JJG9%252Fextrafi%2520%285%29.png%3Falt%3Dmedia%26token%3D38885555-4455-463c-b783-29d91001636a&width=768&dpr=3&quality=100&sign=48563a30&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming#what-is-leveraged-yield-farming) **What is Leveraged Yield Farming?** **Leveraged Yield Farming (LYF)** is a key feature of Extra Finance, which allows users to amplify their returns on investments by borrowing additional funds to invest in a liquidity pool. This is achieved by using the funds as collateral to borrow stable/non-stable coins, which are then used to purchase additional tokens. These tokens are then added to the liquidity pool, increasing the overall value of the pool and providing additional returns to the user. Practically, LYF is one of the most efficient ways to maximize your capital efficiency. It requires no additional asset as collateral, which means you can enjoy the full earning amplification from the leverage. And also, a well-designed LYF strategy can greatly reduce the effect of impermanent loss (IL). ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming#example-from-luca) **Example from Luca** To make those points clear, let’s take an example: Luca has $1000 ETH and $1000 USDC. He deposit and stake those tokens into the ETH-USDC pool to enjoy a 20% APR liquidity farming return. However, he is not satisfied with a 20% return regarding long-term volatility. So he starts to reinvest his earning interest into the pool. The reinvesting can help boost the 20% APR to reach a maximal …… **22.1%** APY (The formula for an upper limit of compound APY is eAPR−1e^{APR}-1eAPR−1, ignoring the gas fee and taking the reinvest interval to be very short). This looks bad, if you also take the gas fee into account (and the rising energy fee to charge your laptop), you might even end up with a lower than 20% APR. So, how can we help poor Luca? Right, with LYF. Now Luca finds a protocol called Extra Finance and starts to play with it. He opens a **3x** leverage position (with $2000 ETH and $2000 USDC borrowed) and invests in the same pool. Let’s take the effective borrowing interest rate as 5%, the total APR now is 3\*(20%)-2\*(5%) = 50%. And the compound APY will reach **64.8%**! A huge difference, right? (Boring math here. To be rigorous, the ideal compound APY can be calculated by the following formula: APY\=el×APR−b−g−1APY=e^{l\\times APR-b-g}-1APY\=el×APR−b−g−1 where we label lll as leverage ratio, bbb as borrowing interests against initial value, ggg as the ratio of gas fee against initial value, and eee is the Euler’s number.) Now Luca is happy with the APY, but another issue begins to bother him — the infamous impermanent loss (IL). With 3x leverage, not only the return but also the potential IL will be larger. IL is a long-standing problem with AMM, many tried to solve but yet no perfect solution. However, with LYF and a smart strategy, you can actually turn this disadvantage into an advantage. Luca predicts the price of ETH will keep rising in the next three months (this Luca is smart), so instead of borrowing the equal value of two assets ($2000 ETH and $2000 USDC), he decides to remain the same leverage rate (3x) but only borrow USDC ($4000 USDC). Why is that? Because borrowing more USDC than ETH is actually creating a long position of ETH! (Boring math again. In Luca’s case (initially with an equal amount of both assets), the ideal long profit rate with LYF can be calculated by the following formula: Long\=lpp0−(l−1) Long=l\\sqrt{\\frac{p}{p\_0}}-(l-1)Long\=lp0​p​​−(l−1) where we label ppp as the current price of ETH and p0p\_0p0​ as the initial price when opening position.) What advantages does Luca’s strategy provide? 1. it greatly compensates the IL loss on both side (no matter whether prices rise or drops) and 2. it outperforms the others at a large price range. Apart from Luca’s strategy, there are much more possibilities to customize the return curve with LYF. With different leverage rates and borrowing combinations, a LYF position can be created to adjust any market condition. ### [hashtag](https://docs.extrafi.io/extra_finance/leverage-farming#what-can-extra-finance-help) **What can Extra Finance help?** Extra Finance makes LYF easy to access for everyone. It allows users to farm up to 3x leverage, providing users with the ability to maximize their returns in a safe and secure manner. The platform also offers a variety of liquidity pools to choose from, and various strategy combinations to reach your earning goal. **Note:** _Leveraged yield farming can be risky, as it involves borrowing funds to invest in a volatile market. Users should conduct thorough research before making any investment decisions._ [PreviousFAQchevron-left](https://docs.extrafi.io/extra_finance/faq) [NextHow Extra Finance Workschevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/how-extra-finance-works) Last updated 1 year ago --- # Welcome to XLend 🎉 | Extrafi XLend ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FLOtVRFqefz39d6KaRikj%252Ftwitter.jpg%3Falt%3Dmedia%26token%3D90e1bffc-4e97-48b9-9b0a-84b9882248b0&width=768&dpr=3&quality=100&sign=cf5df97c&sv=2) [hashtag](https://docs.extrafi.io/extrafi-xlend#what-is-xlend) What is XLend --------------------------------------------------------------------------------- Extrafi XLend is a **smart lending protocol** offering multi-accounts and advanced lending/borrowing strategies. In a long-term vision, XLend aims to be the liquidity layer empowering composable DeFi strategies. [hashtag](https://docs.extrafi.io/extrafi-xlend#core-features) Core Features --------------------------------------------------------------------------------- #### [hashtag](https://docs.extrafi.io/extrafi-xlend#lending-market-based-on-a-battle-tested-codebase) **Lending market based on a battle-tested codebase** * Newly designed user interface * A lending market built on a battle-tested codebase. * Multi-account system * Sub-accounts: Enabling flexible portfolio management * Simplified on-chain experience powered by [smart accountsarrow-up-right](https://www.coinbase.com/wallet/smart-wallet) * Automation & Liquidation-free strategies [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) * Gas-free transactions [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) #### [hashtag](https://docs.extrafi.io/extrafi-xlend#new-staking-module-offering-sustainable-yields) **New staking module offering sustainable yields** [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) * Single-asset staking with USDC or ETH * Supercharged APY from sustainable yield sources (protocol risk absorption, incentives, and revenue sharing) #### [hashtag](https://docs.extrafi.io/extrafi-xlend#comprehensive-risk-management) **Comprehensive risk management** * Built on a highly battle-tested codebase with subsequent enhancements and fixes. * Ongoing security improvements: * Additional [audits](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security) * Work with industry-leading risk management experts * Work with proactive security monitoring platforms * A robust shortfall-protection mechanism [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) : liquidation + safety module + rainy-day-fund * Backed by a team with over 3 years of DeFi risk management expertise [hashtag](https://docs.extrafi.io/extrafi-xlend#tutorials) Tutorials ------------------------------------------------------------------------- [](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use) ![Cover](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FeCd8V9mEVlqxz1lvlTlq%252FFrame%25204.png%3Falt%3Dmedia%26token%3D45664dcd-9f62-422f-a7db-8d7316f178c7&width=490&dpr=3&quality=100&sign=db75d81f&sv=2) Borrowing/Lending [](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use) ![Cover](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FCkLYBSbRoihm8VLa8JVE%252FFrame%25204.png%3Falt%3Dmedia%26token%3D30010f49-0edc-4956-b196-11662502bce3&width=490&dpr=3&quality=100&sign=a6b4a3b1&sv=2) Smart Accounts [hashtag](https://docs.extrafi.io/extrafi-xlend#products) Products ----------------------------------------------------------------------- * [Liquidity Market](https://docs.extrafi.io/extrafi-xlend/borrow-lend) (Live) * Safety Staking Module [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) * Automation & Strategies Module [\[\*\]](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) [hashtag](https://docs.extrafi.io/extrafi-xlend#support) Support --------------------------------------------------------------------- Discord: [https://discord.extrafi.ioarrow-up-right](https://discord.extrafi.io/) X(Twitter): [https://x.com/ExtraFi\_ioarrow-up-right](https://x.com/ExtraFi_io) Email: contact@extrafi.io #### [hashtag](https://docs.extrafi.io/extrafi-xlend#features-marked-with-are-currently-in-progress-and-scheduled-for-release-in-q1-2025.-check-the-detai) _(Features marked with \* are currently in progress and scheduled for release in Q1 2025. Check the detailed roadmap_ [_here_](https://docs.extrafi.io/extrafi-xlend/roadmap) _.)_ [NextBorrow / Lendchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend) Last updated 11 months ago --- # Roadmap | Extrafi XLend #### [hashtag](https://docs.extrafi.io/extrafi-xlend/roadmap#id-2025-q1) 2025 Q1 * Launch of **Extrafi** **XLend** liquidity market. (XLend will be the liquidity layer for future ExtraFi—an open and composable protocol focused on optimizing on-chain capital efficiency.) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/roadmap#id-2025-q2) 2025 Q2 * Introduction of the **Safety Staking Module** (USDC & ETH). * Launch of **Liquidation-Free Borrowing**. * Start of the **Gas-Free Campaign** to incentivize user adoption. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/roadmap#id-2025-q3) 2025 Q3 * Deployment of **Strategy Vaults**. * **Superchain onboarding** for expanded interoperability. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/roadmap#id-2025-q4) 2025 Q4 * Rollout of **Advanced Borrowing/Lending Automation** includes features like health-factor and leverage-rate management. * Launch of an **Intent-Based Interface** for one-click yield optimization. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/roadmap#id-2025-q4-1) 2025 Q4 * Onboarding of Real-World Assets (**RWA**) to the platform. * Deployment of a **Composable Liquidity Framework** to integrate with the broader DeFi ecosystem, enabling enhanced leveraged on-chain strategies. [PreviousTerms of Usechevron-left](https://docs.extrafi.io/extrafi-xlend/terms-of-use) [NextGlossarychevron-right](https://docs.extrafi.io/extrafi-xlend/glossary) Last updated 1 year ago --- # Introduction to Tokenomics V2 | Extra Finance In response to the protocol's growth and community feedback, the ExtraFi community voted for and officially approved the ExtraFi Tokenomics V2 in January 2024. [https://snapshot.org/#/extradao.eth/proposal/0xdc995d9cb93abe822a14c58b5d72ae660dd103e0e31da431b1dd06de0651242carrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0xdc995d9cb93abe822a14c58b5d72ae660dd103e0e31da431b1dd06de0651242c) ExtraFi Tokenomics V2 aims to enhance `$veEXTRA` staking rewards, reduce inflationary pressure, and improve the protocol along with the `$EXTRA` token flywheel. Additionally, some adjustments have been made, including the `$EXTRA` emission plan. [PreviousPseudo-Fixed-Interest-Rate Modelchevron-left](https://docs.extrafi.io/extra_finance/lending/pseudo-fixed-interest-rate-model) [Nextve-Mechanism & Utility V2chevron-right](https://docs.extrafi.io/extra_finance/tokenomics/ve-mechanism-and-utility-v2) Last updated 2 years ago --- # Param & Fee | Extra Finance ### [hashtag](https://docs.extrafi.io/extra_finance/resources#global) **Global** Parameter Rate Description **Minimum Entry Size** **$10** (or equivalent) The minimum amount of assets that a user can deposit to open a leveraged position. **Entrance Fee** **0%** Applicable to Leveraged Yield Farming & Lending **Exit Fee** **0%** Applicable to Leveraged Yield Farming & Lending ### [hashtag](https://docs.extrafi.io/extra_finance/resources#leveraged-yield-farming) **Leveraged Yield Farming** Parameter Rate Description **Re-investment Fee** **6.5% ~ 11.5% (default: 9%)** the breakdown of re-investment fee is as follows: * 2% ~ 3% (default: 2.5%) allocated for distribution to veEXTRA holders weekly. * 0.5% earmarked for covering the operational costs of bots responsible for auto-reinvestment. * 3% designated for the team treasury. * 1% allocated to the Rainy Day Fund, to cover unforeseen protocol risks. * 0% ~ 4% (default: 2%) for the buyback and burn. (Check more details in the [proposalarrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0xf4c0fd92afdec909b76213e599526a7005b82b99f7948a12c3d7ad1c53d660f3) .) **Borrowing Fee** **0% ~ 0.3%** The Borrowing Fee, a portion of the amount borrowed, will be charged to buyback EXTRA when the position is closed. * Charges will range from 0% to 0.3%, with the possibility of increasing to 1% in extreme situations. * A standard rate of 0.1% will apply under normal conditions, with any increase beyond 0.3% requiring community approval. * Borrowing fees will be individually set for different farming pools. (Check more details in the [proposalarrow-up-right](https://snapshot.org/#/extradao.eth/proposal/0x7859835330599afb3833444ee893a3e1235d284c4e05c1b652cf189b3ed5ee7a) .) **Liquidation Fee** **8% \*** _**percent**_ A portion of the whole position is charged as a liquidation fee during the liquidation process. When the LTV (loan to value) ratio of a position goes above the liquidation threshold, the user's position will be liquidated gradually to ensure debt repayment. Any remaining assets will be returned to the user's wallet (after deductions of liquidation bounty). _**percent**_ is the percentage of the position, typically 30%. Exceptional scenario: * For large positions with a value larger than $100,000, 0%~30% of the whole position will be liquidated each time, the portion depends on liquidity depth. * For small positions with a value < $1, the whole position will be liquidated to avoid unnecessary transaction costs. (35% of the liquidation fees collected will be distributed weekly to veEXTRA holders.) Read more about [Safe Liquidation 2.0](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) here, a mechanism aiming to enhance the security of leveraged positions, reduce liquidation fees for users, and mitigate secondary market risks. **Price-Range Trigger Fee** **0.3%** A portion of the total position is charged as a trigger fee during the Price-Range Trigger process. When the price goes out of the price range user set in a position, the position will be closed by the price-range trigger bots. After collecting the protocol fee from it, the remaining portion is given as a bonus to the bot that triggered the Price-Range. (_Notice: if price-range closing is not triggered, no fee would be charged.)_ For pool-specific parameters (eg. liquidation threshold), please find them here: [Pool Infochevron-right](https://docs.extrafi.io/extra_finance/leverage-farming/pool-info) ### [hashtag](https://docs.extrafi.io/extra_finance/resources#lending) **Lending** Parameter Rate Description **Lending Reserve Fee** **15%** Percent of the borrowing interest profit of lenders that is collected as a performance fee; 5.25% (out of 15%) goes to `veExtra` holders, 7.5% goes to ExtraFi Team development fund, and 2.25% will be burned weekly. (**Please note that the lending APY shown on Dapp is after fees.**) circle-info At present, the liquidation and reinvestment bot operates within a whitelisted framework and is managed by the team and trusted partners to prevent malicious activities. As the protocol matures, there are plans for a gradual transition towards a permissionless model. [PreviousHow to Stake (to veEXTRA)chevron-left](https://docs.extrafi.io/extra_finance/tokenomics/tokenomics-v1/staking/how-to-stake-to-veextra) [NextRoadmapchevron-right](https://docs.extrafi.io/extra_finance/resources/roadmap) Last updated 1 year ago --- # Introduction to Lending | Extra Finance ![](https://docs.extrafi.io/extra_finance/~gitbook/image?url=https%3A%2F%2F3038127767-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FHdS59PJdwI8kEK3vLZuH%252Fuploads%252FOICFS9q9To7RchhUIgCP%252Fextrafi%2520%286%29.png%3Falt%3Dmedia%26token%3D8350b6cb-a8b6-480d-9741-5c0a1e141616&width=768&dpr=3&quality=100&sign=a5f9d5e9&sv=2) ### [hashtag](https://docs.extrafi.io/extra_finance/lending#what-is-lending) **What is Lending?** Lending involves supplying assets to the lending pool, which are then borrowed by leveraged yield farmers to perform yield farming. On Extra Finance, lenders can lend various assets (e.g. ETH, USDC) to earn from the lending APY. The interest rates for deposited assets are determined by the utilization rate of lending pools, following their corresponding interest rate curve. You can find detailed parameters [here](https://docs.extrafi.io/extra_finance/lending/interest-rate-model) . Extra Finance does not charge any fees for deposits or withdrawals, and there is no default lockup period, so you can deposit and withdraw funds at any time. (**Please note that if the utilization rate is very high, it may take some time to be able to withdraw the assets until farmers return them.**) [PreviousLiquidationchevron-left](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation) [NextHow to usechevron-right](https://docs.extrafi.io/extra_finance/lending/how-to-use) Last updated 1 year ago --- # Strategy | Extrafi XLend [Overviewchevron-right](https://docs.extrafi.io/extrafi-xlend/strategy/overview) [How strategy workschevron-right](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works) [PreviousParameterschevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/parameters) [NextOverviewchevron-right](https://docs.extrafi.io/extrafi-xlend/strategy/overview) Last updated 4 months ago --- # Multi-Account System | Extrafi XLend Multi-account is another core feature of Xlend, giving users enhanced flexibility to manage portfolios and risk exposure. Multi-account is implemented through mainstream smart account solutions, that help unlock a new level of experience in DeFi - Users can execute sophisticated, automated strategies, and leverage the composability of smart accounts to interact seamlessly with a wide array of third-party DeFi protocols, ultimately enhancing capital efficiency. [PreviousHow strategy workschevron-left](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works) [NextHow it Workschevron-right](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-it-works) Last updated 1 year ago --- # Borrow / Lend | Extrafi XLend [Conceptschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/concepts) [Overviewchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/overview) [How to Usechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use) [FAQchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq) [Liquidationschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) [Price Feedchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed) [Interest Rate Strategychevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/interest-rate-strategy) [E-Modechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode) [Isolation Modechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode) [Riskschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/risks) [Parameterschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/parameters) [PreviousWelcome to XLend 🎉chevron-left](https://docs.extrafi.io/extrafi-xlend) [NextConceptschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/concepts) Last updated 11 months ago --- # Vaults on Morpho | Extrafi XLend #### [hashtag](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho#what-are-morpho-vaults) 🧠 **What are Morpho Vaults?** Morpho Vaults are curated lending strategies built on the [Morphoarrow-up-right](https://morpho.org/) . They allow users to supply assets into actively managed vaults, which automatically allocate capital across Morpho Markets to optimize yield and manage risk. Each vault is maintained by a third-party curator and follows specific risk and strategy parameters. These vaults are designed to simplify the lending experience, offering auto-rebalancing, real-time monitoring, and non-custodial access. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho#current-vaults-on-xlend) 📊 **Current Vaults on XLend** Asset Network Curator Strategy Type Link Vaults Address USDC Base Gauntlet Gauntlet Core Vault [Link to vaultarrow-up-right](https://app.morpho.org/base/vault/0x23479229e52Ab6aaD312D0B03DF9F33B46753B5e/extrafi-xlend-usdc) [0x23479229e52Ab6aaD312D0B03DF9F33B46753B5earrow-up-right](https://basescan.org/address/0x23479229e52Ab6aaD312D0B03DF9F33B46753B5e) WETH Base Gauntlet Gauntlet Core Vault [Link to vaultarrow-up-right](https://app.morpho.org/base/vault/0x5A32099837D89E3a794a44fb131CBbAD41f87a8C/extrafi-xlend-weth) [0x5A32099837D89E3a794a44fb131CBbAD41f87a8Carrow-up-right](https://basescan.org/address/0x5A32099837D89E3a794a44fb131CBbAD41f87a8C) The Vaults on XLend are curated by [**Gauntlet**arrow-up-right](https://www.gauntlet.xyz/) , using the strategy framework of **Gauntlet Core Vaults**. These strategies aim to deliver higher risk-adjusted yields by allocating assets across a mix of large-cap and lower-cap collateral markets, while ensuring that exposure to any single asset remains within prudent risk limits. * Learn more about **Gauntlet** as a curator: [https://www.gauntlet.xyz/arrow-up-right](https://www.gauntlet.xyz/) * Strategy details: [Gauntlet Core Vaultsarrow-up-right](https://vaultbook.gauntlet.xyz/morpho-vaults/core-vaults-competitive-yield-strategies) * Explore live metrics and performance dashboards: **Extrafi XLend USDC** [https://app.gauntlet.xyz/vaults/base:0x23479229e52ab6aad312d0b03df9f33b46753b5earrow-up-right](https://app.gauntlet.xyz/vaults/base:0x23479229e52ab6aad312d0b03df9f33b46753b5e) **Extrafi XLend WETH:** [https://app.gauntlet.xyz/vaults/base:0x5a32099837d89e3a794a44fb131cbbad41f87a8carrow-up-right](https://app.gauntlet.xyz/vaults/base:0x5a32099837d89e3a794a44fb131cbbad41f87a8c) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho#incentives) 🎁 Incentives Users who deposit into XLend’s Morpho Vaults can earn additional rewards on top of the organic yield generated from lending interest. Rewards may include: * **$EXTRA**, the native token of Extrafi * **$MORPHO**, distributed through Morpho’s incentive programs Yield rates (APY) shown on the Vaults tab reflect both base yield and any current incentives. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho#faq) ❓ FAQ **Q: What’s the difference between a Morpho Vault and traditional lending?** A: Vaults automate market selection and risk management. Instead of manually choosing individual markets, you deposit once and the vault handles allocation and rebalancing. **Q: Can I withdraw my funds at any time?** A: Yes, all vaults on XLend are non-custodial and have no lock-up periods. You can deposit or withdraw at any time, subject to market liquidity. **Q: Are these vaults safe?** A: Vaults are managed by reputable curators like Gauntlet, who design the strategies based on rigorous risk modeling. However, as with all DeFi products, users should assess smart contract and market risks. **Q: Where can I track the vault’s performance?** A: Gauntlet provides a live dashboard for each vault: [https://app.gauntlet.xyz/arrow-up-right](https://app.gauntlet.xyz/) [PreviousFAQchevron-left](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq) [NextXLend Incentives Programchevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program) Last updated 9 months ago --- # Security | Extrafi XLend [Audits & Securitychevron-right](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security) [Risk Managementchevron-right](https://docs.extrafi.io/extrafi-xlend/security/risk-management) [Backstop Solutionchevron-right](https://docs.extrafi.io/extrafi-xlend/security/backstop-solution) [PreviousVault & LP Incentiveschevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/vault-and-lp-incentives) [NextAudits & Securitychevron-right](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security) --- # Governance | Extrafi XLend Governance for Extrafi and XLend is managed by veEXTRA holders through an on-chain process using [Snapshotarrow-up-right](https://snapshot.org/#/extradao.eth) . This decentralized governance model ensures that key decisions are made collectively by the community, fostering transparency and inclusivity. Proposals must be approved via Snapshot voting before implementation. We encourage discussions in the Discord “convos” channel before submitting proposals. [PreviousBackstop Solutionchevron-left](https://docs.extrafi.io/extrafi-xlend/security/backstop-solution) [NextGovernance Processchevron-right](https://docs.extrafi.io/extrafi-xlend/governance/governance-process) Last updated 1 year ago --- # XLend Incentives Program | Extrafi XLend This document provides a complete overview of the XLend Incentives Program. Below is a quick summary of the current and previous rounds. For reward logic, eligibility, and claiming details, please refer to the sections that follow. Round Start Date End Date Claim Deadline Amount - OP Amount - EXTRA Eligible Behaviors Round 1 2025/04/07 2025/04/21 2025/10/21 2,000 1) Supply USDC on OP Mainnet 2) Supply USDC on Base Round 2 2025/04/21 2025/04/28 2025/10/28 4,000 1) Supply USDC on OP Mainnet 2) Supply USDC on Base Round 3 2025/04/28 2025/05/05 2025/11/05 3,000 1) Supply USDC on OP Mainnet 2) Supply USDC on Base Round 4 2025/05/05 2025/05/12 2025/11/12 3,500 1) Supply USDC and ETH on OP Mainnet 2) Supply USDC on Base Round 5 2025/05/12 2025/05/19 2025/11/19 3,500 1) Supply USDC and ETH on OP Mainnet 2) Supply USDC on Base Round 6 2025/05/19 2025/05/26 2025/11/26 5,500 1) Supply USDC, ETH and WBTC on OP Mainnet 2) Supply USDC and cbBTC on Base Round 7 2025/05/26 2025/06/02 2025/12/02 6,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base Round 8 2025/06/02 2025/06/09 2025/12/09 6,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base Round 9 2025/06/09 2025/06/16 2025/12/16 7,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC, ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base 4) Borrow USDC on Base Round 10 2025/06/16 2025/06/23 2025/12/23 7,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC, ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base 4) Borrow USDC on Base Round 11 2025/06/23 2025/06/30 2025/12/30 7,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC, ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base 4) Borrow USDC on Base Round 12 2025/06/30 2025/07/07 2026/01/07 7,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC, ETH on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base 4) Borrow USDC on Base Round 13 2025/07/07 2025/07/14 2026/01/14 6,500 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC on OP Mainnet 3) Supply USDC, ETH and cbBTC on Base 4) Borrow USDC on Base Round 14 2025/07/14 2025/07/21 2026/01/21 7,000 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC on OP Mainnet 3) Net Deposit ETH on OP Mainnet 4) Supply USDC, ETH and cbBTC on Base 5) Borrow USDC on Base Round 15 2025/07/21 2025/07/31 2026/01/31 9,800 1) Supply USDC and WBTC on OP Mainnet 2) Borrow USDC on OP Mainnet 3) Net Deposit ETH on OP Mainnet 4) Supply USDC, ETH and cbBTC on Base 5) Borrow USDC on Base Round 16 2025/07/31 2025/08/28 2026/02/28 23,200 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, and WBTC on Base 3) Supply sUSDS, weETH on Base Round 17 2025/08/28 2025/09/25 2026/03/25 25,600 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 18 2025/09/25 2025/10/23 2026/04/23 27,200 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 19 2025/10/23 2025/11/20 2026/05/20 23,600 200,000 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 20 2025/11/20 2025/12/18 2026/06/18 29,200 240,000 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 21 2025/12/18 2026/01/15 2026/07/15 34,000 200,000 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 22 2026/01/15 2026/02/12 2026/08/12 29,200 200,000 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, sUSDS, and weETH on Base Round 23 2026/2/12 2026/3/12 2026/9/12 18,800 200,000 1) Net Deposit USDC, ETH, and WBTC on OP Mainnet 2) Net Deposit USDC, ETH, WBTC, and sUSDS on Base [PreviousVaults on Morphochevron-left](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho) [NextOverviewchevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/overview) Last updated 20 days ago --- # Brand Assets | Extrafi XLend [https://drive.google.com/drive/folders/1PaGS9CzehLXhML0C5j2qNUSlQl3s-yFH?ths=truearrow-up-right](https://drive.google.com/drive/folders/1PaGS9CzehLXhML0C5j2qNUSlQl3s-yFH?ths=true) [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#brand-usage-guidelines) Brand Usage Guidelines ---------------------------------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F2GUdRuG5G3ML1bdaxxJz%252FGroup%2520481786%2520%281%29.png%3Falt%3Dmedia%26token%3Da3201d71-e30d-4996-afa4-25936d8bbe98&width=768&dpr=3&quality=100&sign=4204d520&sv=2)![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FFoQLAPJ02ChlmT99mnTB%252FGroup%2520481788%2520%281%29.png%3Falt%3Dmedia%26token%3D7a338e32-568f-4e38-8ba1-e2888cee2ea6&width=768&dpr=3&quality=100&sign=ae5ee031&sv=2) We offer two logo versions: **Extrafi XLend** and **XLEND**, both available for use. 💡Note: We recommend using **Extrafi XLend** to emphasize its role as a sub-brand of **Extrafi**. It can also be used independently. When **Extrafi XLend** is the primary focus in your materials, there’s no need to display **XLEND** separately. However, when **XLEND** takes center stage, please ensure **Extrafi** is included in a suitable position. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FLS10ByCYLRFFDoOkiMFu%252FExtrafi%2520demo%2520%281%29.png%3Falt%3Dmedia%26token%3D6686a7e1-f258-4e46-ab25-40e5d4675e7e&width=768&dpr=3&quality=100&sign=9105a02d&sv=2) The **Extrafi XLend** logo is available in four color variations. Here are the usage guidelines: * Choose a color version that provides sufficient contrast with your background color to ensure optimal visibility, as shown in the example above. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252Fv2b3iEhJu0y5INDZ9c2Y%252FExtrafi%2520demo%2520%283%29.png%3Falt%3Dmedia%26token%3D26474c49-22f8-4041-8166-df94edd3dab1&width=768&dpr=3&quality=100&sign=e5bfc9ed&sv=2) The **XLEND** logo is available in three color variations. Here are the usage guidelines: * Choose a color version that provides sufficient contrast with your background color to ensure optimal visibility, as shown in the example above. [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#symbol-ex-usage-for-extrafi-xlend) Symbol (EX) Usage for Extrafi XLend ---------------------------------------------------------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FfvMJ6gCvIOoL4Gd2EFRo%252FEX%2520demo%2520%282%29.png%3Falt%3Dmedia%26token%3Dd517248b-422f-4c37-a612-b9b790e705aa&width=768&dpr=3&quality=100&sign=63d16edb&sv=2) For the **EX** abbreviation specific to **Extrafi XLend**, follow these guidelines: * As shown in the image above, we provide only three color versions. Please choose the appropriate version based on your background color, ensuring there is **enough contrast** between the logo and the background for **clear visibility**. * When using this special abbreviation symbol, **please pair it with Extrafi XLend** (i.e., display Extrafi XLend in appropriate places) to ensure users clearly understand the association between this special symbol and Extrafi XLend. [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#modifications-for-extrafi-xlend) Modifications for Extrafi Xlend ---------------------------------------------------------------------------------------------------------------------------------- The standard logos for **Extrafi XLend** feature three main colors, as shown below. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F2mC6xgHNhSay9nowtKnh%252FFrame%2520482157.png%3Falt%3Dmedia%26token%3D30ee0a8b-179c-469f-ad1a-e293f78e4854&width=768&dpr=3&quality=100&sign=79ad43e8&sv=2) We provide logo assets in SVG format for flexible color adjustments. Important: Only modify colors using the pure white version of the logo, and always maintain clear visibility. [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#token-logo) Token Logo ---------------------------------------------------------------------------------------- ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F9PSBhrVWXO8nigLVXFE2%252FExtrafi-Blue%2520Ring.svg%3Falt%3Dmedia%26token%3Dc70c9fcd-75d8-45c6-99ee-4bdbb498260e&width=768&dpr=3&quality=100&sign=11ea696f&sv=2) The official Extrafi token logo helps protect users from fraud. Avoid unnecessary modifications. When adapting the logo for promotional materials, maintain its core recognizability. Acceptable modifications include 3D modeling, rotation effects, transparency adjustments, and decorative borders. [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#download) Download ------------------------------------------------------------------------------------ ### [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#png) PNG file-image 12KB [Extrafi Xlend-Black.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FxtiOZyybZXbQvattEFeW%2FExtrafi%20Xlend-Black.png?alt=media&token=e1740d0e-c2d2-4f88-b4ed-e74f3c0746ce) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FxtiOZyybZXbQvattEFeW%2FExtrafi%20Xlend-Black.png?alt=media&token=e1740d0e-c2d2-4f88-b4ed-e74f3c0746ce) file-image 12KB [Extrafi Xlend-White.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FEfgVuGRcCLEX3jiYj4jV%2FExtrafi%20Xlend-White.png?alt=media&token=54b7f789-6c35-41e9-ade0-0b98fb8e7861) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FEfgVuGRcCLEX3jiYj4jV%2FExtrafi%20Xlend-White.png?alt=media&token=54b7f789-6c35-41e9-ade0-0b98fb8e7861) file-image 11KB [Extrafi Xlend-PureWhite.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F2Fe8TpoJKwSqKnYfphyY%2FExtrafi%20Xlend-PureWhite.png?alt=media&token=43911b42-2ea7-4d6d-b033-2b4b03fc32be) image 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Black.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4TzDz6NBXcY6xIwkmknI%2FXLend%20Black.png?alt=media&token=0c67e002-cab0-4eef-abb5-b0e29378fc64) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4TzDz6NBXcY6xIwkmknI%2FXLend%20Black.png?alt=media&token=0c67e002-cab0-4eef-abb5-b0e29378fc64) file-image 5KB [XLend White.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4pZjcKblXjYYsMC8yK4Z%2FXLend%20White.png?alt=media&token=c6dd4cc3-39b0-4f1e-9f37-14a327b304f4) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4pZjcKblXjYYsMC8yK4Z%2FXLend%20White.png?alt=media&token=c6dd4cc3-39b0-4f1e-9f37-14a327b304f4) file-image 6KB [XLend Blue Purple.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FW51YWEEukfg440Q1NE7p%2FXLend%20Blue%20Purple.png?alt=media&token=e6525ade-60f5-4abb-8e91-27e53c2909d4) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FW51YWEEukfg440Q1NE7p%2FXLend%20Blue%20Purple.png?alt=media&token=e6525ade-60f5-4abb-8e91-27e53c2909d4) file-image 4KB [EX logo for XLend-PureBlack.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FG6B5IQLBxycREkHEmmVB%2FEX%20logo%20for%20XLend-PureBlack.png?alt=media&token=1bb5b7de-7f99-4837-9d0a-c289bc1c0bc1) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FG6B5IQLBxycREkHEmmVB%2FEX%20logo%20for%20XLend-PureBlack.png?alt=media&token=1bb5b7de-7f99-4837-9d0a-c289bc1c0bc1) file-image 5KB [EX logo for XLend-PureWhite.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FmvT0yZr0lL8VDUksgnZ8%2FEX%20logo%20for%20XLend-PureWhite.png?alt=media&token=f0f5ee9d-e9e5-441a-ba53-51d7f1d85b85) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FmvT0yZr0lL8VDUksgnZ8%2FEX%20logo%20for%20XLend-PureWhite.png?alt=media&token=f0f5ee9d-e9e5-441a-ba53-51d7f1d85b85) file-image 6KB [EX logo for XLend-BluePurple.png](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FO5TtCjNGq2BGmbkpvhyW%2FEX%20logo%20for%20XLend-BluePurple.png?alt=media&token=08f0db73-2140-4691-ab70-992ada625ee3) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FO5TtCjNGq2BGmbkpvhyW%2FEX%20logo%20for%20XLend-BluePurple.png?alt=media&token=08f0db73-2140-4691-ab70-992ada625ee3) ### [hashtag](https://docs.extrafi.io/extrafi-xlend/brand-assets#svg) SVG file-image 4KB [Extrafi 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downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FnpBz5KxF42QOljZjJuLb%2FExtrafi%20Xlend-White.svg?alt=media&token=a3617d72-d16e-4a31-91b0-eba9bc5d7c03) file-image 4KB [Extrafi Xlend-PureBlack.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4Xubck0AjFFCjW9PnD9q%2FExtrafi%20Xlend-PureBlack.svg?alt=media&token=88e410b1-68b5-4aaa-a29a-1e4299873991) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2F4Xubck0AjFFCjW9PnD9q%2FExtrafi%20Xlend-PureBlack.svg?alt=media&token=88e410b1-68b5-4aaa-a29a-1e4299873991) file-image 4KB [Extrafi Xlend-PureWhite.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FnQ6vUZsTBzzyOGZ24cs5%2FExtrafi%20Xlend-PureWhite.svg?alt=media&token=86a01365-5b23-4ab2-b1de-5faef94bca44) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FnQ6vUZsTBzzyOGZ24cs5%2FExtrafi%20Xlend-PureWhite.svg?alt=media&token=86a01365-5b23-4ab2-b1de-5faef94bca44) file-image 1KB [XLend Black.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FMe81xrU5KdyP5veuIcAn%2FXLend%20Black.svg?alt=media&token=8703271d-b533-482e-b2db-54f9de3d5cd3) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FMe81xrU5KdyP5veuIcAn%2FXLend%20Black.svg?alt=media&token=8703271d-b533-482e-b2db-54f9de3d5cd3) file-image 1KB [XLend White.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FuwKbnW8Jr0pHbNrJbhR3%2FXLend%20White.svg?alt=media&token=c9488b42-6794-4a08-8e60-8ce0fb276c17) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FuwKbnW8Jr0pHbNrJbhR3%2FXLend%20White.svg?alt=media&token=c9488b42-6794-4a08-8e60-8ce0fb276c17) file-image 1KB [XLend Blue Purple.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FJPcBpRTHrWxwR4SQ7amN%2FXLend%20Blue%20Purple.svg?alt=media&token=ba1acd47-0f93-4635-bb0e-ff4d05432924) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FJPcBpRTHrWxwR4SQ7amN%2FXLend%20Blue%20Purple.svg?alt=media&token=ba1acd47-0f93-4635-bb0e-ff4d05432924) file-image 432B [EX logo for XLend-PureBlack.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FbRUQOigFn57cMLXVvOlZ%2FEX%20logo%20for%20XLend-PureBlack.svg?alt=media&token=66c1bdb8-c1e2-4916-bfa9-a7355df6fd8d) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FbRUQOigFn57cMLXVvOlZ%2FEX%20logo%20for%20XLend-PureBlack.svg?alt=media&token=66c1bdb8-c1e2-4916-bfa9-a7355df6fd8d) file-image 432B [EX logo for XLend-PureWhite.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FFO0CSuy4Y7t6uB4iSMBu%2FEX%20logo%20for%20XLend-PureWhite.svg?alt=media&token=f21ce768-34c1-4e91-8213-6aa6cb7e7360) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FFO0CSuy4Y7t6uB4iSMBu%2FEX%20logo%20for%20XLend-PureWhite.svg?alt=media&token=f21ce768-34c1-4e91-8213-6aa6cb7e7360) file-image 436B [EX logo for XLend-BluePurple.svg](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2Fnr5f99jGoAc32ZWSsicE%2FEX%20logo%20for%20XLend-BluePurple.svg?alt=media&token=9a8671ca-b67e-48b0-ab28-e3c8daadbb5e) image downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2Fnr5f99jGoAc32ZWSsicE%2FEX%20logo%20for%20XLend-BluePurple.svg?alt=media&token=9a8671ca-b67e-48b0-ab28-e3c8daadbb5e) [PreviousDeveloper Resourcechevron-left](https://docs.extrafi.io/extrafi-xlend/developer-resource) [NextTerms of Usechevron-right](https://docs.extrafi.io/extrafi-xlend/terms-of-use) Last updated 10 months ago --- # Developer Resource | Extrafi XLend XLend is fully open-sourced. Code that is deployed on-chain is as follows: Name Address Pool\_Proxy [https://optimistic.etherscan.io/address/0x345D2827f36621b02B783f7D5004B4a2fec00186#codearrow-up-right](https://optimistic.etherscan.io/address/0x345D2827f36621b02B783f7D5004B4a2fec00186#code) Pool\_Impl [https://optimistic.etherscan.io/address/0x0353b6221b23b8320202320ca450eeb9fb0de9e5#codearrow-up-right](https://optimistic.etherscan.io/address/0x0353b6221b23b8320202320ca450eeb9fb0de9e5#code) A\_Token [https://optimistic.etherscan.io/address/0x2B275176804dd01b6a90d61bDa3c80E3A470662E#codearrow-up-right](https://optimistic.etherscan.io/address/0x2B275176804dd01b6a90d61bDa3c80E3A470662E#code) Debt\_Token [https://optimistic.etherscan.io/address/0xC0C88d2752C58263c2b7F4Ac6ecBedC78eDD5d5E#codearrow-up-right](https://optimistic.etherscan.io/address/0xC0C88d2752C58263c2b7F4Ac6ecBedC78eDD5d5E#code) PoolConfigurator [https://optimistic.etherscan.io/address/0xc1504B3D0e72C717151957ceb0252FF8f93A9A1e#codearrow-up-right](https://optimistic.etherscan.io/address/0xc1504B3D0e72C717151957ceb0252FF8f93A9A1e#code) PoolConfiguratorImpl [https://optimistic.etherscan.io/address/0x9378C2e058D87DE7F9EDbF3574eD5B4128980ADC#codearrow-up-right](https://optimistic.etherscan.io/address/0x9378C2e058D87DE7F9EDbF3574eD5B4128980ADC#code) PoolAddressProvider [https://optimistic.etherscan.io/address/0xA98cC6031Ba6908d73dC5615ca82B607096D721d#codearrow-up-right](https://optimistic.etherscan.io/address/0xA98cC6031Ba6908d73dC5615ca82B607096D721d#code) ACL\_Manager [https://optimistic.etherscan.io/address/0x70Cdb45f5b0660c122708286198446d23872595f#codearrow-up-right](https://optimistic.etherscan.io/address/0x70Cdb45f5b0660c122708286198446d23872595f#code) [PreviousExecution of Proposalschevron-left](https://docs.extrafi.io/extrafi-xlend/governance/execution-of-proposals) [NextBrand Assetschevron-right](https://docs.extrafi.io/extrafi-xlend/brand-assets) Last updated 1 year ago --- # Terms of Use | Extrafi XLend **\[Last updated: Jul 24, 2025\]** Please read these Terms of Use ("Terms") carefully before using the Extrafi XLend ("XLend") platform (hereinafter referred to as "the platform"). By accessing or using the platform, you agree to be bound by these Terms, including any additional guidelines and future modifications. If you do not agree to these Terms, you may not use the Platform. Your use of XLend indicates your acceptance and agreement to comply with these Terms. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-1.-access-to-the-platform) **1\. Access to the Platform** **1.1 Eligibility:** You must be of legal age in your jurisdiction to access or use the platform. By using the platform, you confirm that you meet the eligibility criteria. If you are not of legal age, you are not permitted to access or use the platform. **1.2 Compliance:** You agree to comply with all applicable laws and regulations while using the platform. By accessing or using the platform, you represent that you are not located in, incorporated, or established in, or a citizen or resident of the Prohibited Jurisdictions. (“**Prohibited Jurisdiction**” means any of the following jurisdictions and territories: the Republic of Cuba, the Democratic People's Republic of North Korea, South Sudan, Islamic Republic of Iran, Syrian Arab Republic, the People’s Republic of China, United States of America (including its territories: American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands), the Crimea Region of Ukraine and Sevastopol, Donetsk People’s Republic and Luhansk People’s Republic regions of Ukraine, and any jurisdiction in which the use of the Platform is prohibited by applicable laws or regulations.) ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-2.-platform-usage) **2\. Platform Usage** **2.1 Risks:** You acknowledge and accept that using the Platform involves inherent risks, including financial risks. Features such as borrowing and other functionalities provided by Extrafi XLend may result in potential [_risks_](https://docs.extrafi.io/extrafi-xlend/borrow-lend/risks) . You agree to use the platform at your own risk, and Extrafi XLend shall not be held liable for any losses incurred during your use of the platform. **2.2 Personal Responsibility:** You are solely responsible for any decisions and actions you take while using the platform. Extrafi XLend does not provide financial advice; any information provided on the platform is for informational purposes only. **2.3 Tax Compliance:** You are solely responsible for determining what, if any, taxes apply to your cryptocurrency transactions. Extrafi XLend is not responsible for calculating, reporting, or withholding any taxes related to your use of the platform. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-3.-intellectual-property) **3\. Intellectual Property** **3.1 Ownership:** The platform and all its content, including but not limited to text, graphics, logos, images, and software, are the property of Extrafi XLend or its licensors and are protected by intellectual property laws. You are granted a limited, non-exclusive, non-transferable license to use the platform solely for personal and non-commercial purposes. **3.2 Restrictions:** You shall not reproduce, modify, distribute, sell, or lease any part of the platform without prior written consent from Extra XLend. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-4.-changes-to-the-platform-and-terms) **4\. Changes to the Platform and Terms** **4.1 Modifications to the Platform**: Extrafi XLend reserves the right to modify, suspend, or discontinue any part of the platform, including features, functionalities, and services, without prior notice. **4.2 Updates to Terms:** Extrafi XLend may update these Terms from time to time. The updated Terms will be effective upon posting on the platform, and your continued use of the platform after the changes signify your acceptance of the revised Terms. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-5.-disclaimer-of-warranties) **5\. Disclaimer of Warranties** **5.1 "As Is" and "As Available" Basis**: The platform is provided on an "as is" and "as available" basis without any warranties or representations, express or implied. Extrafi XLend disclaims all warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-6.-limitation-of-liability) **6\. Limitation of Liability** **6.1 Exclusion of Damages:** In no event shall Extrafi XLend or its affiliates be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to lost profits or data, arising from or related to your use or inability to use the platform. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-7.-governing-law) **7\. Governing Law** **7.1 Jurisdiction:** These Terms shall be governed by and construed in accordance with the laws of \[Jurisdiction\], without regard to its conflicts of law principles. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/terms-of-use#id-8.-contact-us) **8\. Contact Us** If you have any questions or concerns about these Terms or the platform, please contact us at \[contact@extrafi.io\]. **By using the Extrafi XLend platform, you acknowledge that you have read, understood, and agreed to these Terms of Use.** [PreviousBrand Assetschevron-left](https://docs.extrafi.io/extrafi-xlend/brand-assets) [NextRoadmapchevron-right](https://docs.extrafi.io/extrafi-xlend/roadmap) Last updated 8 months ago --- # Glossary | Extrafi XLend Name Description eTokens Interest-bearing tokens received by users when they supply assets to Xlend. eTokens represent the user’s share of the liquidity pool and accrue interest in real-time. Supply Cap A limit set on the total amount of a particular asset that can be supplied to the Xlend protocol. Borrow Cap A limit set by Xlend Governance on the maximum amount of an asset that can be borrowed from the protocol. This helps manage exposure and risk associated with each asset. Collateral An asset supplied to Xlend to secure a borrowing position. The collateral must exceed the value of the borrowed amount to ensure the protocol's solvency. Cooldown Period A mandatory waiting period that stakers must observe before they can unstake their tokens from the Safety Module. Isolation Mode A feature in Xlend that limits borrowers to borrowing only certain stablecoins when using assets marked as isolated. It helps mitigate risk by restricting the total debt exposure to a single asset. Debt Ceiling The maximum amount of debt that can be issued against an isolated asset. Used to limit the risk exposure to a single collateral type. E-Mode Efficiency Mode allows borrowers to extract higher borrowing power when using correlated assets (e.g., stablecoins). Health Factor A ratio that determines the health of a user's loan position. It compares the value of the user's collateral to their borrowed assets. A health factor below 1 triggers liquidation. Liquidation The process that occurs when a borrower’s health factor drops below 1, resulting in the sale of collateral to repay part of the debt and bring the position back to a safer level. Liquidation Bonus The bonus provided to liquidators as an incentive to purchase undercollateralized assets in a liquidation event. It is expressed in percentage points. Liquidation Threshold The point at which a loan becomes eligible for liquidation due to insufficient collateral relative to borrowed funds. The threshold is defined per asset and determines the collateral value required to maintain a position. Liquidity Index Tracks the cumulative interest earned by a reserve over time, used to calculate accurate interest payments. Loan To Value (LTV) The maximum percentage of a collateral asset's value that can be borrowed. For example, an LTV of 75% means that for every 1 ETH of collateral, 0.75 ETH can be borrowed. Oracle A service used by Xlend to fetch external data, such as the prices of assets, which is critical for determining the value of collateral and debt. Reserve Factor A percentage of interest accrued by borrowers that is allocated to the Xlend Treasury to help safeguard the protocol. Risk Admin An entity or automated system responsible for adjusting risk parameters in Xlend without going through a governance vote. This allows Xlend to respond quickly to unforeseen risks. Utilization Rate A metric that determines the proportion of borrowed assets to the total available assets in a reserve. A higher utilization rate indicates higher borrowing demand. [PreviousRoadmapchevron-left](https://docs.extrafi.io/extrafi-xlend/roadmap) Last updated 1 year ago --- # Audits & Security | Extrafi XLend ### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security#id-1.-audits) **1\. Audits** * Audit report from Sherlock ([Sourcearrow-up-right](https://sherlock-files.ams3.digitaloceanspaces.com/reports/extra-finance-audit-report-1734534935.pdf) ) file-pdf 971KB [2025.06.19 - Final - Extra Finance Private Best Efforts Audit Contest Report 1750340468.pdf](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FQuw0sj6V9dRbzVmgh0si%2F2025.06.19%20-%20Final%20-%20Extra%20Finance%20Private%20Best%20Efforts%20Audit%20Contest%20Report%201750340468.pdf?alt=media&token=a6dbd1f5-703b-4822-9a80-bfbb8ed14c42) PDF downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FQuw0sj6V9dRbzVmgh0si%2F2025.06.19%20-%20Final%20-%20Extra%20Finance%20Private%20Best%20Efforts%20Audit%20Contest%20Report%201750340468.pdf?alt=media&token=a6dbd1f5-703b-4822-9a80-bfbb8ed14c42) * Audit report from PeckShield ([Sourcearrow-up-right](https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-ExtraFi-v1.0.pdf) ) file-pdf 367KB [PeckShield-Audit-Report-ExtraFi-v1.0.pdf](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FJQ2F8UoNa2bWm7GNUs3Q%2FPeckShield-Audit-Report-ExtraFi-v1.0%20(1).pdf?alt=media&token=bc4560c5-133a-49c9-9c7a-460d92bfc801) PDF downloadDownload[arrow-up-right-from-squareOpen](https://2858456557-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2K7L6qM6znh2wIGpWwOA%2Fuploads%2FJQ2F8UoNa2bWm7GNUs3Q%2FPeckShield-Audit-Report-ExtraFi-v1.0%20(1).pdf?alt=media&token=bc4560c5-133a-49c9-9c7a-460d92bfc801) * XLend liquidity protocol is a fork of Aave V3. Check Aave's audit reports [herearrow-up-right](https://github.com/aave/aave-v3-core/tree/master/audits) . ### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security#id-2.-bug-bounty) **2\. Bug Bounty** XLend bug bounty is live on Immunefi: [![Logo](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2Fimmunefi.com%2Fapple-touch-icon.png&width=20&dpr=3&quality=100&sign=f7286251&sv=2)Extra Finance Bug Bounties | Immunefiimmunefichevron-right](https://immunefi.com/bug-bounty/extrafinance/information/) ### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security#id-3.-proactive-monitoring) **3\. Proactive Monitoring** _(The partnership has not yet been renewed in 2025, still in review)_ We have partnered with [Hexagatearrow-up-right](https://www.hexagate.com/) to protect the protocol from cyber exploits, hacks, governance, and financial risks. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security#id-4.-rainy-day-fund) 4\. Rainy-Day Fund Approximately **$1,000,000 USDC** has been accumulated to the Rainy-Day Fund to safeguard the protocol against unexpected incidents and protect the lending pool from insolvency. For more details and to track the current balance of the Rainy-Day Fund, visit: [https://debank.com/profile/0xC918a60e4D40d15959A85fa8b35f6dB96907BabFarrow-up-right](https://debank.com/profile/0xC918a60e4D40d15959A85fa8b35f6dB96907BabF) ### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security#id-5.-oracle-safety) **5\. Oracle Safety** Please check our Oracle selection & usage here: [Price Feed](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed) [PreviousSecuritychevron-left](https://docs.extrafi.io/extrafi-xlend/security) [NextRisk Managementchevron-right](https://docs.extrafi.io/extrafi-xlend/security/risk-management) Last updated 9 months ago --- # How to Use | Extrafi XLend chevron-right**Open a sub-account**[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#open-a-sub-account) 1. Visit the [Extrafi XLend sitearrow-up-right](https://xlend.extrafi.io/) and **Connect Wallet**. 2. Click **"Try Smart Accounts"** at the top and **Create an Account**. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F0BFJyHJ7LFbOGetxMJV0%252Fimage.png%3Falt%3Dmedia%26token%3D562fb51c-bc44-4c5f-9ac0-86479993f2a6&width=300&dpr=3&quality=100&sign=f49510b8&sv=2) ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FFGEx1YstYSOspU2AZk77%252Fimage.png%3Falt%3Dmedia%26token%3D5fe7c9ca-3cf2-485a-8055-4b23f88e9a8e&width=300&dpr=3&quality=100&sign=88e8070a&sv=2) 1. Confirm the transaction in your wallet. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252Fgo6aChRrZR2Nxut7OmiS%252Fimage.png%3Falt%3Dmedia%26token%3Dd1adc8b2-de60-4d11-867e-ed31d6fdb8c0&width=300&dpr=3&quality=100&sign=2a0b9f64&sv=2) 1. After creating smart accounts, you can switch between accounts by clicking **"Accounts > Wallet"** at the top, or manage them by clicking the button next to your connected wallet address. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252Fy4wqNX2UYNmwVsClDWNy%252Fimage.png%3Falt%3Dmedia%26token%3D424a5067-d3d0-485f-becd-5c424f88fc81&width=300&dpr=3&quality=100&sign=777b386&sv=2) ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FY0JkG1jsvtrx0QGhCmfl%252Fimage.png%3Falt%3Dmedia%26token%3Da4f031fa-07c5-47a8-8358-eeaf732a0e2d&width=300&dpr=3&quality=100&sign=d448afd1&sv=2) 1. You can create additional sub-accounts by clicking **"Create New Sub-account"** (maximum of 5 accounts per wallet allowed). chevron-right**Transfer/Merge assets between sub-accounts and wallet (EOA)**[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#transfer-merge-assets-between-sub-accounts-and-wallet-eoa) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#to-transfer-assets-from-your-wallet-to-sub-accounts-on-extrafi-xlend-there-are-two-ways) **To transfer assets from your wallet to sub-accounts on Extrafi XLend, there are two ways:** 1. Copy your sub-account address and send assets directly from your wallet to that address. Or, 1. Use the lending pool to transfer from wallet to sub-accounts: Taking USDC as an example * Switch to the sub-account and select the asset pool you want to supply; * Enter the amounts you want to transfer and confirm the transaction in your wallet; * Click **"Withdraw"** on your newly opened lending position; ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FqEtHathxQar2F5fTFCWI%252Fimage.png%3Falt%3Dmedia%26token%3Dcacc22d4-7608-4a2c-ac94-606af8bec8f5&width=300&dpr=3&quality=100&sign=b193abf5&sv=2) * When withdrawing, the **"Target"** should be your sub-account like "Account 1"; ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F76xMYorEEaevMBSEoXKu%252Fimage.png%3Falt%3Dmedia%26token%3Da5bc8d37-bfd4-42e3-af6b-48538e383c46&width=300&dpr=3&quality=100&sign=59ce4ba&sv=2) * Enter the amount, withdraw, and confirm the transaction in your wallet; * The assets will then appear in your sub-account. You can manage your balance by clicking **"Manage Balance"**. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FHJSDS8AxId5iVqL8pBQB%252Fimage.png%3Falt%3Dmedia%26token%3D8334b27b-04e3-4af2-ab2e-ef535d54614b&width=300&dpr=3&quality=100&sign=9692aafa&sv=2) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#to-transfer-assets-from-sub-accounts-to-your-wallet-eoa-on-extrafi-xlend) **To transfer assets from sub-accounts to your wallet(EOA) on Extrafi XLend:** 1. Click on **"Manage Balance"**. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FaEwSwKaEF6tyaJRrWyOg%252Fimage.png%3Falt%3Dmedia%26token%3D9ba0b244-d187-4f9e-9010-e07fbcffcbb8&width=300&dpr=3&quality=100&sign=5222fba6&sv=2) 1. Select the asset you want to transfer to the wallet and click **"Transfer"** (Multiple assets can be transferred simultaneously). ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FAcxVoAlXmkfOEwjCBETA%252Fimage.png%3Falt%3Dmedia%26token%3Dd88e1a08-ca0b-4fff-840f-2d5ddfb81659&width=300&dpr=3&quality=100&sign=5198ed57&sv=2) 1. Confirm the transaction in your wallet. Once confirmed, the assets will be transferred from your sub-account to your wallet. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FBa598kGVKg0hOfvN2GeU%252Fimage.png%3Falt%3Dmedia%26token%3Db3e69012-39ab-4322-8308-95e6a1bc0d67&width=300&dpr=3&quality=100&sign=4da11937&sv=2) chevron-right**Compose bundle transactions**[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#compose-bundle-transactions) 1. When supplying, borrowing, or performing any actions, you can click **"Add to Batch"**. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FglODxEWMAbT6KMUzaVLJ%252Fimage.png%3Falt%3Dmedia%26token%3Deeac6ecc-517f-4566-87b6-c452873b70e6&width=300&dpr=3&quality=100&sign=d0d2188&sv=2) 1. All pending actions will appear in the bottom-right corner. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FQmqhKnpxM6hZRnNPmyrD%252Fimage.png%3Falt%3Dmedia%26token%3D3d725ccb-dcfe-4023-bc68-6788aeed68d5&width=300&dpr=3&quality=100&sign=2e3f4cef&sv=2) 1. Click on **"Pending Actions"** to review your batch. You can clear all actions if changes are needed. The simulated result appears below. After reviewing, click **"Confirm Batch"** to proceed. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FIl2zbkprz8Uitr9KZE6R%252Fimage.png%3Falt%3Dmedia%26token%3D43e7417e-8e7d-4649-819a-1fa21677fa7b&width=300&dpr=3&quality=100&sign=cc6d2e48&sv=2) 1. Approve and Confirm the transactions in your wallet. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FvHuup6lNDTEpEfaXqevN%252Fimage.png%3Falt%3Dmedia%26token%3D8514bf07-b85c-4be8-88d3-d94dfb1a13ec&width=300&dpr=3&quality=100&sign=14dbed7d&sv=2) 1. You’re all set! ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FTjWCDn2rTPLXDyEFiDWE%252Fimage.png%3Falt%3Dmedia%26token%3D530340ea-3c07-4ab7-bc0e-ca9da41b9314&width=300&dpr=3&quality=100&sign=471e722b&sv=2) chevron-right**Easily track all assets across multiple accounts**[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#easily-track-all-assets-across-multiple-accounts) By simply tracking your wallet(EOA) address on DeBank, you can easily monitor all your positions and assets—including those in sub-accounts. [PreviousHow it Workschevron-left](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-it-works) [NextFAQchevron-right](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq) Last updated 1 year ago --- # How to Use | Extrafi XLend chevron-rightHow to Supply Assets on Extrafi XLend[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#how-to-supply-assets-on-extrafi-xlend) Supply allows you to earn interest on your assets. XLend offers a variety of assets you can supply to the platform, including stablecoins, altcoins, LSTs, and other assets. 1. Visit the [Extrafi XLend sitearrow-up-right](https://xlend.extrafi.io/) and Connect Wallet (Note that you need to check the bottom prompt). ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FDXdO0HUG8mbHGaftFvce%252Fimage.png%3Falt%3Dmedia%26token%3D9de9ac16-4e92-49ba-9628-2989fb3f8fb9&width=300&dpr=3&quality=100&sign=3a9885&sv=2) 1. Browser the list of Main Market assets and select the asset you want to supply. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FxXbdgBeQ3UFDS75mve51%252Fimage.png%3Falt%3Dmedia%26token%3D883a79f0-0969-484d-900a-f28b3d237a34&width=300&dpr=3&quality=100&sign=f2ef9975&sv=2) 1. Click on **"Supply"**. 2. Enter the amount you want to supply. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FftQMlEf5LhGdopM3VkrV%252Fimage.png%3Falt%3Dmedia%26token%3D6dd2e594-7da0-42cd-acaa-b281a455b901&width=300&dpr=3&quality=100&sign=2aecc759&sv=2) 1. Review the overview details, then click the **"Supply"** button to initiate the transaction. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F3J99fdMiEQGe8zObdhcG%252Fimage.png%3Falt%3Dmedia%26token%3D335f6ec5-2ebb-4543-8f5a-824b371b3003&width=300&dpr=3&quality=100&sign=6e83b756&sv=2) 1. Approve and confirm the transaction in your wallet. 2. Once the transaction is confirmed, you can view your supplied assets in the **"Show Positions"** section. Your assets will immediately begin earning interest at the current Supply APY rate. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FrhEEf4410QCOXANnOIPZ%252Fimage.png%3Falt%3Dmedia%26token%3D08eb46e5-d996-4fe7-bc31-82b05142ab83&width=300&dpr=3&quality=100&sign=d3d6ad03&sv=2) ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FciJP4Lzccfr8uWWOjgIr%252Fimage.png%3Falt%3Dmedia%26token%3Da9d108c8-f2fe-4c37-b8fc-39a04ce91339&width=300&dpr=3&quality=100&sign=4fbf4015&sv=2) chevron-rightHow to Borrow Assets on Extrafi XLend[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#how-to-borrow-assets-on-extrafi-xlend) XLend allows you to borrow assets by using your supplied assets as collateral. Borrowing enables you to leverage your holdings while maintaining exposure to the assets you supply. 1. Browse the list of Main Market assets and select the asset you want to borrow. (Before borrowing, ensure that you have enough collateral to secure the loan.) ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252Fa1QXiWPXJkGSKHQ6xbF6%252Fimage.png%3Falt%3Dmedia%26token%3D70c95d8d-4ecb-488b-a8dc-654723479574&width=300&dpr=3&quality=100&sign=2ace5c9f&sv=2) 1. Click on **"Borrow".** 2. Enter the amount you want to borrow. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FtmXanykFCVgFjplwhU7o%252Fimage.png%3Falt%3Dmedia%26token%3D43f40157-09b3-4c42-89c2-c61d1b1b5b3e&width=300&dpr=3&quality=100&sign=d0ad342c&sv=2) 1. Check the Overview, and click the **"Borrow"** button to initiate the borrowing process. 2. Approve and confirm the transaction in your wallet 3. After confirming the transaction, your debt details will appear in the **"Show Positions"** section. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F1GTWi486W39x14AoCpJq%252Fimage.png%3Falt%3Dmedia%26token%3D70b25515-2bd6-43f4-b43a-b4a86076e740&width=300&dpr=3&quality=100&sign=bb726f6e&sv=2) chevron-rightHow to Repay Assets on Extrafi XLend[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#how-to-repay-assets-on-extrafi-xlend) 1. Click the **"Repay"** button on your borrow position. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F6UuZ3SqOgzhoVFJ5GE1r%252Fimage.png%3Falt%3Dmedia%26token%3D0be78828-de22-42ad-9ab7-9538e4ae6d01&width=300&dpr=3&quality=100&sign=d4d1f768&sv=2) 1. Enter the repayment amount and confirm the transaction in your wallet _**Note: You must repay both the borrowed amount and any accrued interest.**_ ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252F1aaA0OGuIpnPA1vfv9SR%252Fimage.png%3Falt%3Dmedia%26token%3Da9e4191a-1fe3-44bb-9637-800f5a1241fd&width=300&dpr=3&quality=100&sign=8ebf2f0d&sv=2) chevron-rightHow to Check Dashboard & Portfolio on Extrafi XLend[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#how-to-check-dashboard-and-portfolio-on-extrafi-xlend) The Extrafi XLend Dashboard & Portfolio offers a clear overview of your lending and borrowing activities. You can track your positions and monitor essential metrics through four main sections: **Net Worth**, **Health Factor**, **LTV (Loan-to-Value)**, and **Borrowing Power**. The Dashboard can be accessed directly from the main page: ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FWitAB5efwPkaWr8N2eqy%252Fimage.png%3Falt%3Dmedia%26token%3D15846a30-43f7-49dc-96c2-05b5591b7fe0&width=300&dpr=3&quality=100&sign=2795fad9&sv=2) The [Portfolioarrow-up-right](https://xlend.extrafi.io/portfolio) is accessible from the navigation bar at the top of the main page: ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FIsszLOU6zRYPidO3aVsC%252Fimage.png%3Falt%3Dmedia%26token%3D648797af-c09b-4d52-8a6e-7f29c04844c1&width=300&dpr=3&quality=100&sign=a72008a6&sv=2) Breakdown of Dashboard & Portfolio: #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#id-1.-net-worth) **1\. Net Worth** Net Worth shows the total value of your assets minus any borrowed funds on Extrafi XLend. This key metric helps you track your actual holdings after accounting for all loans. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#id-2.-health-factor) **2\. Health Factor** Health factor in XLend is an important indicator that shows how secure a borrowing position is. It calculates the ratio between the collateral value (adjusted by the liquidation threshold) and the total borrowed amount. The higher the Health Factor, the less the risk of liquidation. Check [here](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) for more details. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#id-3.-loan-to-value-ltv) **3\. Loan-to-Value (LTV)** The Loan-to-Value (LTV) ratio is the ratio of the value of the loan you have taken compared to the value of the collateral you have provided. It’s an important measure of risk — the higher the LTV, the greater the risk of liquidation. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use#id-4.-borrowing-power) **4\. Borrowing Power** Borrowing Power is the amount of funds you can borrow based on the current value of your collateral. It represents your ability to take out more loans or leverage additional funds without exceeding the platform’s risk parameters. [PreviousOverviewchevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/overview) [NextFAQchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq) Last updated 11 months ago --- # Email Protection | Cloudflare Please enable cookies. Email Protection ================ You are unable to access this email address gitbook.io ------------------------------------------------------ The website from which you got to this page is protected by Cloudflare. Email addresses on that page have been hidden in order to keep them from being accessed by malicious bots. **You must enable Javascript in your browser in order to decode the e-mail address**. If you have a website and are interested in protecting it in a similar way, you can [sign up for Cloudflare](https://www.cloudflare.com/sign-up?utm_source=email_protection) . * [How does Cloudflare protect email addresses on website from spammers?](https://developers.cloudflare.com/waf/tools/scrape-shield/email-address-obfuscation/) * [Can I sign up for Cloudflare?](https://developers.cloudflare.com/fundamentals/setup/account/create-account/) Cloudflare Ray ID: **9e0f122758d9f278** • Your IP: Click to reveal 54.237.218.47 • Performance & security by [Cloudflare](https://www.cloudflare.com/5xx-error-landing) --- # Overview | Extrafi XLend A looping strategy (also known as recursive lending) is a capital-efficient yield optimization technique that allows users to amplify lending returns or boost leverage on yield-bearing assets. It works by repeatedly depositing an asset as collateral, borrowing against it, and re-depositing the borrowed amount — creating a “loop” of lending and borrowing that compounds yield. On ExtraFi XLend, this process is fully automated and executed safely through smart accounts. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/overview#id-1.-deposit-into-a-vault) **1\. Deposit into a Vault** **Select Token** Each strategy vault enables you to deposit the yield bearing token, or the underlying token (eg. for weETH/ETH, you can deposit weETH, or ETH). **Set Leverage** Set your leverage rate. Higher leverage entails more risk, but typically earns higher yields. In each loop vault, you can view the average Multiplier across all positions in the vault. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/overview#id-2.-earning-yield) **2\. Earning Yield** **Net APY** As long as your position Net APY is higher than the asset APY (eg. for weETH, if position Net APY > weETH APY), your position is earning yield. Net APY is a direct indicator of how profitable your position is. **Position Value** Over time, you can track the growth of your position’s value. Each position represents as an underlying lending or borrowing position, which can be monitored directly in your portfolio. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/overview#id-3.-risks) **3\. Risks** **Asset Depeg/Volatility Risk** The price of yield-bearing tokens can fluctuate due to market volatility, trading activity, or underlying protocol insolvencies. Such price movements may lead to liquidation risks or negative returns, especially when higher leverage is involved. It’s important to exercise caution and carefully evaluate the stability and liquidity of a vault before implementing any looping strategy. **Interest Rate Risk** This risk arises when the spread between the yield-bearing asset’s APY (e.g., weETH) and the underlying borrow APY (e.g., ETH) on ExtraFi XLend narrows. As the borrowing rate approaches the asset’s yield rate, net returns decrease. If the borrow rate exceeds the asset’s APY, the position may turn unprofitable — and in extreme cases, could face liquidation pressure. **Liquidation Risk** If the collateral ratio drops below safe thresholds due to rate or price changes, the position may be partially or fully liquidated. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/overview#id-4.-best-practices) 4\. Best Practices * Choose stable, high-liquidity assets and vaults (e.g., ETH, weETH, USDC). * Avoid high volatility or thin-liquidity markets when opening loops. * Monitor your health factor regularly from the Portfolio dashboard. * Consider moderate leverage ratios to maintain safety margins. [PreviousStrategychevron-left](https://docs.extrafi.io/extrafi-xlend/strategy) [NextHow strategy workschevron-right](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works) Last updated 4 months ago --- # Concepts | Extrafi XLend **Lending and eTokens** Users lend assets like ETH, USDC, or DAI on XLend. In return, they receive **eTokens**, which represent their stake in the pool and accrue interest over time. eTokens can be transferred or traded. **Borrowing** Users can borrow assets by using their deposits as collateral. The **Loan-to-Value (LTV)** ratio determines how much can be borrowed against the collateral. **Health Factor** Liquidators monitor the **health factor** of each user’s position, which reflects the ratio of collateral to borrowed funds. If the health factor falls below a certain threshold, the position becomes at risk of liquidation. **Liquidation** If the collateral value drops too much, liquidators can buy the collateral at a discount to repay the loan. This helps keep the protocol solvent. **Advanced Features** * **eMode (Efficiency Mode)**: Allows borrowers to increase borrowing power when collateral and borrow assets are closely correlated (e.g., stablecoins). * **Isolation Mode**: Limits borrowing when new or volatile assets are used as collateral to reduce risk. [Read more](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode) . * **Supply and Borrow Caps**: Caps ensure that the protocol isn’t overly exposed to any single asset. [PreviousBorrow / Lendchevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend) [NextOverviewchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/overview) Last updated 11 months ago --- # Overview | Extrafi XLend [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/overview#lending) Lending ------------------------------------------------------------------------------------------ Lending (Supplying) tokens to XLend allows users to earn interest while using them as collateral for borrowing. Tokens are added to the liquidity pool, where they accrue interest dynamically based on the market supply rate. Interest rates depend on the borrow utilization rate—calculated from the proportion of borrowed to supplied assets—and governance parameters. Interest rates adjust accordingly as liquidity is deposited, borrowed, or withdrawn. Suppliers on XLend can withdraw their tokens, including earned interest, **as long as there’s enough unborrowed liquidity in the pool**. The amount is limited by available reserves and the need to maintain a healthy collateral ratio to prevent liquidation. With an active borrow position, users must manage withdrawals carefully to keep their health factor above the liquidation threshold. [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/overview#borrowing) Borrowing ---------------------------------------------------------------------------------------------- Borrowing on XLend allows users to unlock liquidity by using their supplied tokens as collateral, letting them access funds without selling their assets. Interest rates are dynamic, adjusting based on utilization rates - higher demand for borrowed liquidity leads to higher rates, encouraging efficient borrowing behavior. To prevent liquidation, borrowers need to maintain a strong collateral ratio, actively tracking their health factor to ensure it stays above the required threshold for over-collateralization. Repayment can be made using the same tokens that were borrowed, which helps increase the collateral ratio and reduces the risk of liquidation. [PreviousConceptschevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/concepts) [NextHow to Usechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use) Last updated 11 months ago --- # How strategy works | Extrafi XLend #### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works#id-1.-one-click-setup-via-flash-loan) 1\. One-Click Setup via Flash Loan When a user opens a looping strategy, XLend automatically initiates a flash loan to perform all steps within one transaction. The internal logic of the flash loan contract is as follows (take weETH/ETH as an example): 1. Borrows ETH via flash loan. 2. The borrowed ETH and innital deposit is converted into weETH (the yield-bearing asset). 3. The newly swapped weETH is deposited into XLend as collateral. 4. The strategy then borrows ETH from XLend against that collateral. 5. The borrowed ETH is used to repay the flash loan, completing the loop setup. All these actions occur atomically — either the entire sequence succeeds, or it fully reverts (no partial execution). This ensures safety and allows the user to open a leveraged weETH position in a single click. * * * #### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works#id-2.-position-representation-on-portfolio) 2\. Position Representation on Portfolio Once created, the looping position becomes a standard lending/borrowing position in your XLend portfolio. * You’ll see both supplied assets (the yield-bearing token) and borrowed assets (the underlying token). * The position accrues yield from the supplied side while paying interest on the borrowed side. * Your net APY depends on the spread between the two rates. Over time, you can track the growth, performance, and health of this position directly in your portfolio dashboard. * * * #### [hashtag](https://docs.extrafi.io/extrafi-xlend/strategy/how-strategy-works#id-3.-smart-account-safety-and-management) 3\. Smart Account Safety & Management Every looping strategy on XLend is mandatorily opened under a Smart Account (smart contract wallet). This design ensures: * Safety: Your looping position is isolated and cannot affect other wallet assets. * Automation: The Smart Account can manage complex transactions (e.g., rebalancing, harvesting, or partial unwinds). * Ease of use: Users can close or adjust the strategy with a single transaction. [PreviousOverviewchevron-left](https://docs.extrafi.io/extrafi-xlend/strategy/overview) [NextMulti-Account Systemchevron-right](https://docs.extrafi.io/extrafi-xlend/multi-account-system) Last updated 4 months ago --- # FAQ | Extrafi XLend chevron-rightIs the codebase forked or built from scratch?[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq#is-the-codebase-forked-or-built-from-scratch) At Extrafi XLend, our guiding principle is 'safety and user experience first'. To achieve this, we use a battle-tested codebase instead of building from scratch, allowing us to focus on accessibility and composability. 1. The core liquidity protocol is a fork of Aave V3.0, with essential fixes and enhancements applied for added robustness. 2. Our multi-account functionality is powered by the leading Account Abstraction (AA) solution - Coinbase Smart Wallet. We’ve also developed peripheral contracts and overall UX enhancements to ensure a smooth, seamless experience across the product. chevron-rightis the product audited?[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq#is-the-product-audited) Yes, while the original codebase has undergone multiple audits and verifications, we conduct a new audit before its launch. Check the report [herearrow-up-right](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security) . chevron-rightWhat is the difference between XLend and Extrafi LYF (Leveraged Yield Farming)[hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq#what-is-the-difference-between-xlend-and-extrafi-lyf-leveraged-yield-farming) XLend is a liquidity protocol enabling users to borrow and lend. Also, smart account integration paves the way for XLend to evolve into an open, composable liquidity protocol designed to enhance on-chain capital efficiency with intuitive inputs. Even in this early version, users can benefit from features like liquidation-free borrowing and one-click leverage within the protocol. Extrafi LYF focuses on its current use case, with a vision to enable flexible liquidity provision. [PreviousHow to Usechevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/how-to-use) [NextLiquidationschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) Last updated 1 year ago --- # Price Feed | Extrafi XLend [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed#oracle) Oracle ------------------------------------------------------------------------------------------ Chainlink is the primary Oracle used in XLend. Chainlink oracles provide highly reliable, decentralized price data for various assets. These price feeds aggregate data from multiple sources, minimizing the risk of manipulation or outages. XLend uses Chainlink Oracle as a price feed within the protocol for calculating collateral value, debt value, and liquidation thresholds. [![Logo](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2Fcdn.prod.website-files.com%2F61e4774ecd79d748406a58e4%2F626052b2d683d9fc8efe72c8_Group%2520308.png&width=20&dpr=3&quality=100&sign=b79c7081&sv=2)Extra Finance on Chainlink Ecosystem | Every Chainlink integration and partnershipwww.chainlinkecosystem.comchevron-right](https://www.chainlinkecosystem.com/ecosystem/extra-finance) [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed#oracle-sentinel) Oracle Sentinel ------------------------------------------------------------------------------------------------------------ Oracle Sentinel validates whether operations are allowed based on the Oracle's health status. This feature introduces a grace period for liquidations and disables borrowing under specific circumstances. It has been designed specifically for L2s to handle potential sequencer downtime. After an Oracle outage or downtime, users can improve their positions' health during a grace period. The Oracle is considered healthy once fully operational and the grace period has elapsed. [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed#oracle-usage) Oracle Usage ------------------------------------------------------------------------------------------------------ We've implemented a monitoring system to detect Oracle manipulation and abnormal price feeds, to protect the protocol from malicious behaviors, including: * Flash loan activity detection * Abnormal price movement detection Once the risk team confirms that the Oracle is been manipulated, necessary actions will be taken to mitigate the impact including a liquidation pause. [PreviousLiquidationschevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) [NextInterest Rate Strategychevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/interest-rate-strategy) Last updated 11 months ago --- # How it Works | Extrafi XLend **Account Explanation** When you create a sub-account (smart account), it’s bound to your connected wallet (or EOA), with your wallet address set as the sole owner during account creation. All actions for your sub-accounts must be signed with your connected wallet, ensuring you maintain full control over them. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-it-works#features) Features * **Sub-accounts:** Enables flexible management of isolated positions. * **Improved on-chain experience:** Simplifies user operations through bundled transactions, reducing the need for continual signatures. * **Automation**:\* Manages position health automatically, helping users avoid liquidation. * **Intent-based actions:**\* Allows users to set up one-click strategies with predefined workflows. * **More EIP-4337 features:**\* Supports gas-free transactions. Reference: [https://github.com/coinbase/smart-wallet?tab=readme-ov-file#passkey-owners-and-ethereum-address-ownersarrow-up-right](https://github.com/coinbase/smart-wallet?tab=readme-ov-file#passkey-owners-and-ethereum-address-owners) [PreviousMulti-Account Systemchevron-left](https://docs.extrafi.io/extrafi-xlend/multi-account-system) [NextHow to Usechevron-right](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use) Last updated 1 year ago --- # Liquidations | Extrafi XLend [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations#basics) Basics -------------------------------------------------------------------------------------------- **Loan-To-Value** LTV\=(Loan AmountTotal Collateral Value)×100 \\text{LTV} = \\left( \\frac{\\text{Loan Amount}}{\\text{Total Collateral Value}} \\right) \\times 100 LTV\=(Total Collateral ValueLoan Amount​)×100 When a position's loan-to-value ratio (LTV) exceeds a certain threshold (**Liquidation Threshold**), Liquidation occurs. This triggers liquidation bots to close the position to ensure debt repayment, which means your borrowed funds will be returned to the lender, and any potential remaining portion(after deductions of liquidation bounty) will be returned. **Health Factor** The health factor in XLend is an important indicator that shows how secure a borrowing position is. It calculates the ratio between the collateral value (adjusted by the liquidation threshold) and the total borrowed amount. Mathematically: Health Factor\=Total Collateral Value×Weighted Average Liquidation ThresholdTotal Borrow Value\\text{Health Factor} = \\frac{\\text{Total Collateral Value} \\times \\text{Weighted Average Liquidation Threshold}}{\\text{Total Borrow Value}} Health Factor\=Total Borrow ValueTotal Collateral Value×Weighted Average Liquidation Threshold​ * If the **health factor** is **above 1**, the borrowing position is considered safe, as it’s above the liquidation threshold. * If the **health factor** drops below **1**, the position risks **liquidation**. * To improve it, users can **increase collateral** or **reduce the borrowing amount**. The health factor is dynamic—it changes based on fluctuations in both collateral and debt values. As the collateral’s market value rises, the health factor improves, lowering liquidation risk. Conversely, if the collateral value drops, the health factor decreases, raising the risk of liquidation. [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations#liquidation-model) Liquidation Model ------------------------------------------------------------------------------------------------------------------ XLend utilizes the [**Liquidation Mechanism 2.0**arrow-up-right](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) in Extrafi’s **Leveraged Yield Farming (LYF)**, which has been successfully maintaining the safety of the lending pool since mid-2023. * When the Liquidation Threshold is reached, only a portion (50% as default) of the user's position will be subject to liquidation. During the liquidation process, a liquidation fee is also levied against the borrower's collateral. _(If the Health Factor fell below 0.95, the whole position could be liquidated.)_ * If liquidation continues due to ongoing price movements, users may eventually retain assets on the platform, free from debt. These assets represent the remaining portion of the position post-liquidation, and they can be withdrawn at any time. * Liquidations are permissionless on XLend, meaning anyone can initiate the process if a position qualifies. **⚠️ Important: Please note that in the event of a significant price movement, there is a possibility that no remaining assets are left. This can occur when the equity approaches the value of the debt or falls below the value of the debt, leading to a complete loss of assets.** [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations#liquidation-execution) Liquidation Execution -------------------------------------------------------------------------------------------------------------------------- Liquidation on XLend is permissionless. You can refer to the open-source codebase to learn how to liquidate positions with a health factor below 1. Liquidation can be competitive, it's recommended that you develop your high-efficiency liquidation bot or strategy. This will not only improve your chances of successful liquidations but also contribute to maintaining the protocol’s overall health. [PreviousFAQchevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/faq) [NextPrice Feedchevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed) Last updated 11 months ago --- # FAQ | Extrafi XLend chevron-rightWhen & why should I create sub-accounts?[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq#when-and-why-should-i-create-sub-accounts) Sub-accounts are useful if you want to manage positions separately. Key benefits include: * **Risk Segregation**: Sub-accounts help you isolate different strategies or assets, minimizing cross-position risk. * **Multiple Strategies**: Manage multiple strategies or assets simultaneously, with more control and flexibility for each position. * **Clear Tracking**: Easily track performance and manage risk independently for each sub-account. Additionally, sub-accounts support all EIP-4337 features, such as **batch transactions** and **gas-free operations**, offering an enhanced UX. With sub-accounts, you also gain access to **position automation**, allowing you to maintain a fixed debt ratio and prevent liquidations. chevron-rightIs smart account safe to use?[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq#is-smart-account-safe-to-use) Extrafi Xlend employs cutting-edge smart account solutions - Coinbase Smart Wallet - as its smart account layer. These battle-tested solutions are widely adopted in the industry. By integrating it at the product level (instead of the smart contract level), Xlend also minimizes the introduction of additional risks. chevron-rightHow many sub-accounts can create?[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq#how-many-sub-accounts-can-create) To prevent misuse, the Xlend dApp currently allows up to 5 accounts per wallet (EOA). chevron-rightCan I easily track all sub-accounts to avoid forgetting?[hashtag](https://docs.extrafi.io/extrafi-xlend/multi-account-system/faq#can-i-easily-track-all-sub-accounts-to-avoid-forgetting) Yes, you can simply track your connected wallet (EOA) on DeBank, and all associated assets will be displayed. [PreviousHow to Usechevron-left](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use) [NextVaults on Morphochevron-right](https://docs.extrafi.io/extrafi-xlend/vaults-on-morpho) Last updated 1 year ago --- # Parameters | Extrafi XLend [PreviousRiskschevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/risks) [NextStrategychevron-right](https://docs.extrafi.io/extrafi-xlend/strategy) Last updated 1 year ago --- # Interest Rate Strategy | Extrafi XLend [PreviousPrice Feedchevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/price-feed) [NextE-Modechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode) --- # Isolation Mode | Extrafi XLend #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode#concept) Concept Isolation Mode enables new assets to be listed with controlled risk. When a borrower uses an isolated asset as collateral, they **cannot simultaneously use other assets as collateral**, but can still supply them to earn yield. In this mode, borrowing is restricted to select stablecoins approved by governance, **with borrowing capped by a defined debt ceiling** to ensure protocol stability. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode#best-practise) Best Practise If you’re supplying an isolated asset, consider creating a new account to avoid limiting your overall borrowing power. This approach helps maintain capital efficiency across your positions. [Learn how to open a sub-account →arrow-up-right](https://docs.extrafi.io/extrafi-xlend/multi-account-system/how-to-use#open-a-sub-account) [PreviousE-Modechevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode) [NextRiskschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/risks) Last updated 11 months ago --- # Overview | Extrafi XLend The Extrafi XLend Incentives program is designed to reward users who contribute real liquidity and actively participate in our lending markets. By combining emissions from the Extrafi protocol with external grants such as the Optimism grant, we offer targeted rewards to both lenders and borrowers across multiple asset pools. These incentives serve several key purposes: * Encourage organic liquidity growth and retention * Reward early adopters and long-term participants * Support ecosystem development across the Superchain #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/overview#whats-covered) **🔍 What's Covered** The current XLend incentives program primarily applies to: * **Lending Pools**: Supply and borrow on selected XLend markets * **Vaults**: Strategy-based lending vaults integrated with other protocols like Morpho * **LP Pools**: Liquidity provision on external platforms such as Balancer We use different incentive logic depending on the pool type. The most common models include: * **Net Deposit Rewards**: Incentives based on a user's net position (supply - borrow) in a pool * **Supply & Borrow Rewards**: Incentives based on supply or borrow activity, distributed proportionally to user's contribution. [PreviousXLend Incentives Programchevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program) [NextIncentive Eligibility & Reward Ruleschevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules) Last updated 7 months ago --- # Risk Management | Extrafi XLend **Risk Parameter Adjustment** At Extrafi XLend, risk parameters are continuously monitored and adjusted to better adapt to changing market conditions, ensuring the safety and efficiency of the protocol. Below is an overview of the key risk parameters and their roles: #### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/risk-management#id-1.-supply-borrow-cap) 1\. Supply/Borrow Cap * Definition: The maximum amount of an asset that can be supplied or borrowed within the protocol. * Purpose: * To prevent overexposure to specific assets. * To mitigate the impact of market volatility on protocol liquidity. * Adjustment: * Based on asset utilization rates, volatility, and market demand. * Caps are periodically reviewed to ensure alignment with current liquidity and risk profiles. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/risk-management#id-2.-maximum-loan-to-value-max-ltv) 2\. Maximum Loan-to-Value (Max LTV) * Definition: The maximum ratio of a loan value that can be borrowed against the collateral value. * Purpose: * To balance borrowing flexibility with risk management. * Ensures the protocol can cover potential losses during market downturns. * Adjustment: * Evaluated based on asset stability, liquidity, and price volatility. * Adjusted to account for shifts in market conditions or asset-specific risks. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/risk-management#id-3.-liquidation-threshold) **3\. Liquidation Threshold** * Definition: The collateral value percentage below which a position is eligible for liquidation. * Purpose: * To protect the protocol from insolvency by triggering liquidation before collateral value becomes insufficient to cover the debt. * Adjustment: * Regularly updated based on market volatility and asset liquidity. * Higher thresholds for volatile or illiquid assets to provide additional safety. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/security/risk-management#id-4.-asset-isolation) 4\. Asset Isolation * Definition: The segregation of certain high-risk or experimental assets to limit their impact on the broader protocol. * Purpose: * To reduce systemic risk from assets with unpredictable behaviors or low liquidity. * Protects the protocol from contagion effects due to extreme events involving isolated assets. * Adjustment: * Assets may be added to or removed from isolation status based on performance metrics and risk assessments. * Isolation parameters are reviewed in collaboration with risk management partners. [PreviousAudits & Securitychevron-left](https://docs.extrafi.io/extrafi-xlend/security/audits-and-security) [NextBackstop Solutionchevron-right](https://docs.extrafi.io/extrafi-xlend/security/backstop-solution) Last updated 1 year ago --- # E-Mode | Extrafi XLend ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#overview) Overview E-Mode (Efficiency Mode) in XLend is designed to optimize capital efficiency when borrowing and supplying assets that are highly correlated. By enabling E-Mode, users can access higher LTV ratios and lower liquidation thresholds, allowing for more effective leverage strategies. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#how-e-mode-works) How E-Mode Works * When users enable E-Mode, they can only borrow assets within the same category (e.g., ETH-based assets or stablecoins). * Borrowing power is significantly increased due to the lower risk associated with highly correlated assets. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#e-mode-categories) E-Mode Categories XLend introduces asset categories for E-Mode, which include: 1. **ETH Category**: Includes ETH and Liquid Staking Tokens (LSTs) like wstETH, rETH, and stETH. 2. **Stablecoin Category**: Includes USDC, USDT, DAI, and other stablecoins. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#key-benefits) Key Benefits * **Higher LTV Ratios**: Allows users to borrow a greater percentage of their collateralized assets. * **Higher Liquidation Thresholds**: More efficient capital allocation without significantly increasing risk. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#example-use-case) Example Use Case **ETH E-Mode Scenario:** 1. A user deposits 10 wstETH as collateral. 2. Enables E-Mode under the "ETH" category. 3. Borrows up to 9.3 ETH instead of the standard ~7 ETH without E-Mode. 4. Uses borrowed ETH for staking, liquidity provision, or leveraged yield farming. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#considerations-and-risks) Considerations and Risks * **E-Mode is Category-Locked**: Only assets within the selected category can be borrowed while E-Mode is enabled. * **Higher Leverage = Higher Risk**: Liquidations can happen faster if the market moves unfavorably. * **Not All Assets Support E-Mode**: Ensure the desired assets are part of an E-Mode category before activation. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/e-mode#how-to-enable-e-mode) How to Enable E-Mode 1. Navigate to the "Borrow/Lend" page. 2. Click on "Enable E-Mode" on your position. 3. Select the asset category you want to use. 4. Supply and borrow assets within that category to maximize efficiency. [PreviousInterest Rate Strategychevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/interest-rate-strategy) [NextIsolation Modechevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode) Last updated 1 year ago --- # Risks | Extrafi XLend At Extrafi XLend, we are committed to mitigating risk and maintaining the utmost transparency with our users. However, the dynamic nature of DeFi ecosystems means that unforeseen events may occur. Users are encouraged to review the following risk factors carefully before participating in the protocol. **Smart Contract Risk** Smart contract vulnerabilities pose a potential threat of exploitation by malicious actors, which could result in loss of funds. This risk is intrinsic to all smart contracts, including Extrafi XLend. **Liquidation Risk** Users engaging in borrowing activities on Extrafi XLend must maintain a specified collateral ratio. If the collateral value drops below the required threshold (determined by asset-specific LTVs), an automatic liquidation process is triggered to maintain protocol stability. In extremely volatile market conditions, liquidations may result in a significant or complete loss of collateral. **Oracle Risk** Extrafi XLend utilizes Chainlink Oracle as real-time price feeds for calculating collateral value, debt value, and liquidation thresholds. While Chainlink is highly reliable, the possibility of Oracle mispricing, inaccuracies, or manipulation cannot be entirely eliminated. Such events could potentially lead to unintended liquidations. **Withdrawal Delay Risk** When the lending pool's utilization rate nears or reaches 100%, users may face delays in withdrawing their deposited assets. This situation may persist until borrowers repay their loans or new liquidity enters the pool. **Bad Debt Risk** Bad debt occurs when the collateral provided by a borrower falls below the required threshold and the protocol cannot recover the full borrowed amount during liquidation. This can happen if the liquidation bot fails to liquidate the borrower's collateral promptly due to market volatility, liquidity issues, or network delays. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/borrow-lend/risks#risk-management-of-extrafi-xlend) Risk Management of Extrafi XLend **Smart Contract Risk** Extrafi XLend has implemented proactive measures to mitigate smart contract risk: * Built on the battle-tested Aave V3 codebase, with additional enhancements and subsequent fixes * Undergone comprehensive audits by leading third-party security firms in the blockchain space * Maintain an active bug bounty program on [ImmuneFiarrow-up-right](https://immunefi.com/bug-bounty/extrafinance) , incentivizing whitehats to identify and report potential vulnerabilities **Liquidation Risk** Extrafi XLend utilizes the same [**Liquidation Mechanism 2.0**arrow-up-right](https://docs.extrafi.io/extra_finance/leverage-farming/liquidation#safe-liquidation-2.0) as Extrafi’s **Leveraged Yield Farming (LYF)** product, which has been successfully maintaining the safety of the lending pool for over 18 months. For more information, please refer to [_Liquidations_](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) . **Oracle Risk** Extrafi XLend has implemented a monitoring system to detect Oracle manipulation and abnormal price feeds, protecting the protocol from malicious behaviors. This system includes: * Flash loan activity detection * Price band and limit settings and detection **Withdrawal Delay Risk** To mitigate withdrawal delays, Extrafi Xlend implements utilization caps for lending pools. These caps help maintain a balance between borrowing and lending, reducing the likelihood of liquidity shortages. **Bad Debt Risk** Liquidations on Extrafi XLend are permissionless, allowing anyone to initiate the process for qualifying positions. (See more details [here](https://docs.extrafi.io/extrafi-xlend/borrow-lend/liquidations) ) If both liquidation and RiskReap Vaults fail to fully cover the bad debt, the **Rainy Day Fund** serves as the final layer of defense. [PreviousIsolation Modechevron-left](https://docs.extrafi.io/extrafi-xlend/borrow-lend/isolation-mode) [NextParameterschevron-right](https://docs.extrafi.io/extrafi-xlend/borrow-lend/parameters) Last updated 11 months ago --- # Execution of Proposals | Extrafi XLend After the voting or timelock period ends, the proposal will be executed, and all actions outlined in the proposal will be carried out. * **Operational Functions** (e.g., configuration changes, code updates) must go through a timelock period before execution. * **Risk Management Functions** (e.g., emergency pauses) are exempt from the timelock and can be executed immediately if they are whitelisted. Execution details can be tracked on a public Notion page. [https://www.notion.so/3ce97097ee264661b2eb3b308882da3c?pvs=4arrow-up-right](https://www.notion.so/3ce97097ee264661b2eb3b308882da3c?pvs=4) [PreviousGovernance Processchevron-left](https://docs.extrafi.io/extrafi-xlend/governance/governance-process) [NextDeveloper Resourcechevron-right](https://docs.extrafi.io/extrafi-xlend/developer-resource) Last updated 1 year ago --- # Backstop Solution | Extrafi XLend Xlend implements a three-tiered backstop solution: **1\. Liquidation** The initial step in a backstop mechanism involves the **liquidation process**, which is triggered when a borrower’s **health factor** falls below 1. This step is designed to prevent under-collateralized positions from affecting the lending pool. In cases where liquidation is not sufficient to cover the bad debt due to rapid market downturns or extreme price volatility, the backstop proceeds to the next step. **2\. Safety Staking Vaults (in progress)** If the liquidation process fails to fully cover the bad debt, Safety Staking Vaults designed in the protocol will be used to absorb the remaining shortfall. In this mechanism, participants stake mainstream assets (USDC, ETH, etc.) into the Safety Staking Vaults, earning rewards but taking on the risk of **slashing**. If bad debt occurs, a portion of the staked tokens is used to cover the deficit. This approach helps reduce insolvency risk by aligning incentives between asset stakers and the protocol’s stability, while also offering another layer of protection before reaching the final backstop. **3\. Rainy Day Fund** As the 3rd layer of defense, the **Rainy Day Fund** is deployed if both liquidation and Staking Vaults are insufficient to cover the bad debt. This fund is a reserve designed to handle extreme insolvency events. It serves as an emergency buffer, covering any remaining bad debt after other mechanisms are exhausted. The fund is generally built up over time through a portion of protocol fees, reserve factors, or strategic allocations from governance. This multi-layered backstop solution aims to protect against systemic risks and ensure the protocol’s solvency, even during extreme market stress. It offers a cascading defense mechanism that prioritizes liquidations, utilizes community staking, and resorts to the protocol’s emergency reserves as a last resort. [PreviousRisk Managementchevron-left](https://docs.extrafi.io/extrafi-xlend/security/risk-management) [NextGovernancechevron-right](https://docs.extrafi.io/extrafi-xlend/governance) Last updated 1 year ago --- # FAQ | Extrafi XLend chevron-rightHow often are rewards updated?[hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq#how-often-are-rewards-updated) Rewards are streamed continuously and become claimable in real time as your position accrues eligibility. However, there may occasionally be **a short delay of several hours** before new rewards appear due to data indexing and Merkl's snapshot processing. This delay is expected and does not affect your actual reward entitlement. chevron-rightWhy is the APR on XLend different from what I see on Merkl?[hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq#why-is-the-apr-on-xlend-different-from-what-i-see-on-merkl) This varies by pool type: **🟦 Net Deposit pools:** * **XLend** shows APR based on **eligible net deposit** (supply minus borrow in same pool). * **Merkl** shows **average APR across all users**, including those with zero/negative net deposits, typically resulting in lower displayed rates. **🟩 Supply & Borrow pools:** * XLend **fetches APR directly from Merkl**, so both should match. * Any differences are usually due to **data sync delay** chevron-rightHow do I know if a pool uses Net Deposit or Supply & Borrow logic?[hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq#how-do-i-know-if-a-pool-uses-net-deposit-or-supply-and-borrow-logic) XLend clearly specifies this in each incentive announcement. You can also hover over the APR in the app to view the reward calculation method for that specific pool. chevron-rightWhat happens if I don’t claim my rewards?[hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq#what-happens-if-i-dont-claim-my-rewards) All XLend incentives must be claimed **within 6 months** after each campaign ends. Unclaimed rewards after this period will be reclaimed by XLend and redirected to future incentive programs. [PreviousHow Lending Incentives Are Distributedchevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed) [NextVault & LP Incentiveschevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/vault-and-lp-incentives) Last updated 7 months ago --- # Incentive Eligibility & Reward Rules | Extrafi XLend XLend offers two primary incentive distribution models: **Net Deposit Rewards** and **Supply & Borrow Rewards** for lending pools. We apply these models to different lending pools based on campaign goals, risk structures, and integration stages. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#id-1.-net-deposit-rewards) **1\. Net Deposit Rewards** #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#what-it-is) **What it is:** Net Deposit Rewards are distributed based on a user's **net position** in a lending pool—calculated as the difference between the amount supplied and the amount borrowed within the same pool. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#formula) **Formula:** Eligible Holding = Supply Balance – Borrow Balance (same pool only) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#where-its-used) **Where it's used:** This model is currently used in selected pools where we aim to reward genuine liquidity contributors, including: * OP Mainnet: USDC, ETH and WBTC * Base: USDC, ETH, cbBTC, sUSDS and weETH #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#key-rules) **Key Rules:** * Only users with a positive net deposit are eligible for rewards. * Borrowing assets from a different pool does **not** reduce your eligible holding. * If your borrow amount exceeds your supply in the same pool, your eligible holding becomes 0, and you won't earn rewards from that pool. _Examples:_ ✅ Supplied 100,000 USDC, borrowed 50,000 USDC → Eligible Holding = 50,000 USDC ✅ Supplied 100,000 USDC, borrowed 50,000 DAI → Eligible Holding = 100,000 USDC ❌ Supplied 100,000 USDC, borrowed 110,000 USDC → Eligible Holding = 0 USDC #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#apr-display-on-xlend) **APR Display on XLend:** The APR shown on the XLend app is calculated based on your **eligible holding**: APR = (Total Annual Rewards for the Pool × Eligible Holding) ÷ (Total Supply - Total Borrow) #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#why-it-matters) **Why it matters:** This model rewards genuine liquidity providers and prevents dilution from circular borrowing strategies. It delivers more focused and efficient rewards to users who truly contribute capital. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#id-2.-supply-and-borrow-rewards) **2\. Supply & Borrow Rewards** #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#what-it-is-1) **What it is:** This model distributes rewards based on **either** your supply or borrow activity, depending on the specific pool’s incentive configuration. Rewards are calculated proportionally to user's contribution. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#where-its-used-1) **Where it's used:** This model is applied to general-purpose or newly launched pools where we aim to encourage broader participation. These pools may transition to Net Deposit logic in future updates. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#key-rules-1) **Key Rules:** * Users can earn rewards by supplying assets, borrowing assets, or both, depending on the pool configuration. * Net deposits do not need to be positive to qualify for rewards. * This model is typically implemented during initial launches or to encourage broader platform adoption. _Examples:_ * Supplied 50,000 ETH → eligible for supply-side rewards * Borrowed 30,000 USDC → eligible for borrow-side rewards * Supplied 100,000 USDC and borrowed 100,000 USDC in the same pool → still eligible for both supply and borrow rewards #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#apr-display-on-xlend-1) **APR Display on XLend:** For pools using the Supply & Borrow model, APR is shown separately for each side: Supply APR = (Total Annual Supply Rewards × Your Supply) ÷ Total Supply Borrow APR = (Total Annual Borrow Rewards × Your Borrow) ÷ Total Borrow #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules#why-it-matters-1) **Why it matters:** This model offers greater flexibility and inclusivity, allowing all participants to earn rewards more easily. However, because it doesn't prevent circular strategies, the effective APR can fluctuate based on competition levels and how users interact with the pool. [PreviousOverviewchevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/overview) [NextHow Lending Incentives Are Distributedchevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed) Last updated 4 months ago --- # Governance Process | Extrafi XLend Proposals undergo discussion in Discord before being formally submitted on Snapshot by eligible veEXTRA holders. After a pending period, proposals enter a voting phase where quorum must be met. Approved proposals are reviewed, scheduled, and implemented following a time lock. 1. **Proposal Submission Process** The proposal submission process begins with a discussion phase in the Discord “convos” channel, typically lasting 1-3 days. This allows the community to provide feedback and refine the proposal before formal submission. Once the discussion period is complete, eligible veEXTRA holders (those with more than 30,000 veEXTRA) can submit the proposal on Snapshot. The proposal will remain in a pending state for 1 day, after which a three-day voting period will commence, allowing the community to cast their votes and ensure quorum is met. 1. **Roles and Responsibilities** `$veEXTRA` holders play a crucial role in governance through Snapshot. * By holding >1 `$veEXTRA`, holders can participate in voting. * By holding >30,000 `$veEXTRA`, holders can initiate proposals. 1. **Voting Mechanism** * **Voting Power**: $veEXTRA holders receive governance powers proportional to the sum of their balances on Optimism mainnet. * **Voting Type:** * **Single Choice Voting** is typically used for proposals related to protocol development. These proposals are considered successful if they receive a majority of “For” votes (more than 50% “For” compared to “Against”). * **Approval Voting** is generally used for proposals such as launching new pools. A proposal of this type is considered successful if any option receives more than 50% of the votes. * For other types of proposals, methods like **Weighted Voting** may be used, with the success criteria outlined in the specific proposal. 1. **Quorum** All votes require a quorum of at least 50,000 veEXTRA to be deemed valid. [PreviousGovernancechevron-left](https://docs.extrafi.io/extrafi-xlend/governance) [NextExecution of Proposalschevron-right](https://docs.extrafi.io/extrafi-xlend/governance/execution-of-proposals) Last updated 1 year ago --- # How Lending Incentives Are Distributed | Extrafi XLend ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#reward-distribution-via-merkl) 💎 Reward Distribution via Merkl XLend Lending Pools distribute all incentives through [Merklarrow-up-right](https://merkl.xyz/) , a DeFi incentive platform that **connects liquidity providers with protocols** seeking to boost activity and engagement. This distribution method applies to **both Net Deposit Rewards and Supply & Borrow Rewards** across all eligible markets on OP Mainnet and Base. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#how-it-works) **🔧 How It Works** * Merkl smart contracts configure and issue incentives. * User eligibility and reward amounts are calculated by Merkl based on on-chain data (supply, borrow, net deposit). * Rewards stream continuously and are claimable in real time. * Merkl defines the **exact logic and parameters for each incentive campaign**. * XLend displays estimated APRs and claimable rewards by integrating Merkl data, but doesn't directly control distribution. * Users can claim rewards through either XLend or the [Merkl Claim Portalarrow-up-right](https://app.merkl.xyz/users/) . 🔗 [View Merklarrow-up-right](https://merkl.xyz/) | [Claim Rewardsarrow-up-right](https://app.merkl.xyz/users/) ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#rewards-are-distributed-in-extoken-format) 🧊 Rewards Are Distributed in exToken Format Some XLend lending pools distribute rewards in the form of **exTokens** (e.g., `exOptOP`, `exOptUSDC`). These are special recipient tokens that represent your lending position on XLend. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#how-it-works-1) **🔧 How It Works** * Rewards accumulate continuously and are **claimable in real time**. * When using an exToken-enabled pool, your rewards are issued as **exTokens**, which act as both: * Your **lending position token**, and * Your **reward-bearing token** * You can redeem exTokens **1:1 for the underlying asset** at any time through the XLend interface. Here’s how it works in practice: * **Step 1**: Click “Claim” to receive your reward as an exToken (e.g., exOptOP). ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FI9KSFNfpinJWc204aeTb%252Fimage.png%3Falt%3Dmedia%26token%3D50c7c3e8-89ff-479f-9a52-0da72d7dcfcf&width=768&dpr=3&quality=100&sign=dd352e4c&sv=2) * **Step 2**: Go to the **Portfolio** tab to view your supplied position in exTokens. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FfXTDZTjfNag2pd752bEo%252Fimage.png%3Falt%3Dmedia%26token%3D30ea4f53-365e-48cc-921e-bd1d43137b88&width=768&dpr=3&quality=100&sign=79aa7944&sv=2) * **Step 3:** You can choose to **keep this position** to continue earning yield, or simply click **“Withdraw”** to redeem it for the underlying asset (e.g., OP) and exit the position. ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FCRQUNabGZF0mQK4KjTmx%252Fimage.png%3Falt%3Dmedia%26token%3D692f4923-5e16-4008-8e1b-9d909c431027&width=768&dpr=3&quality=100&sign=ceb471c7&sv=2) ![](https://docs.extrafi.io/extrafi-xlend/~gitbook/image?url=https%3A%2F%2F2858456557-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252F2K7L6qM6znh2wIGpWwOA%252Fuploads%252FeN1yKRCiG42Z2MhWEESI%252Fimage.png%3Falt%3Dmedia%26token%3D655a284f-5123-46af-a12e-b11c4011dccf&width=768&dpr=3&quality=100&sign=11473968&sv=2) * ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#op-rewards-are-distributed-in-axlop-on-base) 🟦 OP Rewards Are Distributed in axlOP on Base On Base, all `OP` rewards are distributed in the form of `axlOP`, a bridged version of `OP` via Axelar. Unlike OP Mainnet, where some rewards may be distributed as `exOptOP` (claimable on OP Mainnet), rewards on Base **do not use exToken wrappers for** `OP`. #### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/how-lending-incentives-are-distributed#how-it-works-2) **🔧 How It Works** * Rewards are issued directly as `axlOP` and can be **claimed natively on Base,** no need to switch networks. * Claimed `axlOP` can be transferred, [bridgedarrow-up-right](https://app.squidrouter.com/?chains=8453%2C10&tokens=0x994ac01750047b9d35431a7ae4ed312ee955e030%2C0x4200000000000000000000000000000000000042) , or [swappedarrow-up-right](https://kyberswap.com/swap/base/0x994ac01750047b9d35431a7ae4ed312ee955e030-to-usdc) like any other token on Base. * This setup offers a smoother claim experience and reduces the complexity of managing cross-chain reward positions. **Note: To simplify the claiming process**, other Base pool rewards (such as `EXTRA`) are also distributed **directly on Base** and can be claimed **together**. [PreviousIncentive Eligibility & Reward Ruleschevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/incentive-eligibility-and-reward-rules) [NextFAQchevron-right](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq) Last updated 4 months ago --- # Vault & LP Incentives | Extrafi XLend In addition to lending pools, XLend also distributes rewards to select **Vaults** and **Liquidity Pools (LPs)** integrated through external platforms. ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/vault-and-lp-incentives#morpho-vaults) **🔹 Morpho Vaults** XLend partners with **Morpho** to offer curated vaults powered by Gauntlet strategies, including: * **Extra XLend USDC Vault** * **Extra XLend WETH Vault** These vaults automatically lend assets through XLend and optimize for risk and efficiency. Rewards are distributed in $EXTRA and $MORPHO. Vault performance and rewards can be tracked on both the [**XLend app**arrow-up-right](https://xlend.extrafi.io/vaults) and [**Morpho’s interface**arrow-up-right](https://app.morpho.org/base/earn?search=XLend) . ### [hashtag](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/vault-and-lp-incentives#balancer-lp-pools) **🔹 Balancer LP Pools** XLend also supports incentives for liquidity providers on Balancer, with pools such as: * **USDC / USR** These LP pools receive $EXTRA staking incentives, distributed via the Balancer gauge system. Rewards are claimable through [Balancer’s interfacearrow-up-right](https://balancer.fi/pools/base/v3/0xe3a85e913f967406823cde9c390ae7bad9496367) , and boosted by veBAL voting where applicable. [PreviousFAQchevron-left](https://docs.extrafi.io/extrafi-xlend/xlend-incentives-program/faq) [NextSecuritychevron-right](https://docs.extrafi.io/extrafi-xlend/security) Last updated 7 months ago ---