After reading the previous two articles, are you a bit intrigued by Falcon Finance (@falcon_finance) but think the operation might be complicated? Don't worry! This article is a beginner-friendly 'nanny-level' guide. Our goal is simple: to let you experience 'money making money' in the shortest time while enjoying the feeling of being able to withdraw at any time.
1. Preparation before starting (2 minutes)
1. A wallet: Make sure you have a commonly used crypto wallet (like MetaMask, Trust Wallet, etc.) with some assets ready to 'test the waters,' such as some ETH, USDC, or BNB.
2. Connect to the network: Falcon Finance is likely deployed on mainstream chains (such as Ethereum, BSC, etc.). Open your wallet and ensure the network is switched to the corresponding blockchain.
3. Find the entrance: Visit Falcon Finance's official website (be sure to verify the link through official channels!).
2. Core operation: Deposit and earn returns (3 minutes)
Taking 'ETH' deposit as an example, the process is quite similar:
1. Connect your wallet: Click 'Connect Wallet' on the official website, select your wallet type, and authorize the connection.
2. Choose the deposit pool: Find the 'Deposit' or 'Earn' section in the interface and select the 'ETH' pool. You will see the clearly displayed real-time annual percentage yield (APY).
3. Enter the amount: Input the amount of ETH you wish to deposit. It is recommended to use a small amount (for example, 0.01 ETH) for the first time to complete the process and get a feel for it.
4. Authorization and confirmation:
· After clicking 'Deposit', your wallet will first pop up an 'Authorization' request, which allows the protocol's smart contract to call your ETH. Confirm.
· Immediately, a second 'deposit' transaction will pop up; confirm the transaction details (including network gas fees).
5. Done! You have received the yield token: After the transaction is confirmed, your ETH will be transferred from your wallet to Falcon's smart contract. At the same time, you will receive the corresponding yield ETH token (for example, called fETH or yETH) in your wallet. Please note that from this moment on, although the number of yield tokens remains unchanged, their corresponding ETH value = your deposited ETH + continuously accumulated interest.
3. How to check returns and withdraw anytime?
· Check returns: Go back to the official website, on the 'Dashboard' or 'My Deposits' page, you can clearly see your total deposits and accumulated returns. Returns will automatically compound.
· Withdraw anytime:
1. Find the 'Redeem' or 'Withdraw' option on the same page.
2. Choose the amount of yield token you want to redeem (you can partially redeem).
3. Confirm the transaction. Upon success, the corresponding native ETH (principal + accrued interest) will be directly returned to your wallet.
· Key experience: Feel whether this process is fast and smooth. This is exactly what Falcon emphasizes as its 'high liquidity' core.
4. Advanced skills: Double your fund efficiency
Once you are familiar with the basic operations, you can try this 'advanced gameplay' to experience the charm of DeFi:
· Collateralizing yield assets to borrow: Do not redeem your yield ETH tokens! You can directly hold this 'appreciating yETH' and go to lending protocols like Aave or Compound to use it as collateral to borrow stablecoins (such as USDC). Then, you can even deposit the borrowed USDC back into Falcon to earn interest... (This operation involves risk management; beginners should understand the concepts before attempting it once they are familiar.)
5. Security Reminder (Must Read!)
1. Beware of phishing: Only obtain the official website link from official Twitter, announcements, and other channels.
2. Small-scale trial: For any new protocol, please start with the minimum amount.
3. Understand the risks: DeFi yields are not bank deposits; the risks of smart contracts and market risks still exist. But choosing a protocol like Falcon that has undergone rigorous auditing and has transparent mechanisms is the first step.
Take action!
Theoretical explanations a thousand times are no match for hands-on experience. Use a small amount of money that you can afford to lose to complete the entire process from 'deposit' to 'check returns' to 'redeem'. This 5-minute personal experience will give you an understanding of the next generation of DeFi wealth management, surpassing 99% of bystanders who only watch.
What are you waiting for? Go ahead and put your crypto assets in 'autopilot' mode!
