- USDC Lending

Users can deposit USDC to get ibUSDC in hand!

💡Deposit USDC To Get ibUSDC

ibUSDC can be calculated by;

• CASE 1 : (Total USDC Deposit Amount) > 0

$${Number}\space{of}\space{Token}=\frac{{Deposit}\space{Amount}*{Total}\space{Token}}{{Total}\space{Liquidity}}$$

• CASE 2 : (Total USDC - Deposit Amount) ≤ 0

$${Number}\space{of}\space{Token}={Deposit}\space{Amount}$$

*Total Liquidity = Total USDC Deposited + Cumulative Borrow Interest

Total ibUSDC token is set based on the first user who deposits this asset. For example, if Bob is the first user who deposits 1,000 USDC, then the total ibUSDC token starts with 1,000 ibUSDC. If Alice then adds 100 USDC then the total liquidity will be 1,100 USDC, then Alice gets 90.90 ibUSDC (100 * 1,000 / 1,100).

💡Withdraw ibUSDC to get USDC

The number of withdrawal share that can be calculated from the following equation;

$${Withdrawal}\space{Share}=\frac{{Withdrawal}\space{Amount}*{Total}\space{Token}}{{Total}\space {Liquidity}}$$

📎Total USDC Deposited (Total Supply)

Can be called 'Total Liquidity', the total amount of liquidity in each asset pool, calculated as

$$TotalLiquidity = TotalAvailableLiquidity+TotalBorrows$$

📎Total Debt Issued (Total Borrowing)

Can be called 'Total Borrow Shares', the total number of shares of Total Borrow for an asset, while Total Borrows are the sum of the total borrowed amount and accumulated borrow interest of an asset.

📎Current ibUSDC APR

Can be calculated from the following equation

$${ibUSDC}\space{APR} = \frac{{Borrow}\space{Interest}*Utilization}{100}$$