Lending & Earning Yield
How to deposit assets on Project 0 and earn yield across P0's native market and integrated venues.
Lending is the simplest way to use P0. Deposit your idle assets and earn interest from borrowers automatically. Because P0 is a prime broker, you can deposit into multiple venues and have all your positions count as collateral under a single account.
How Lending Yield Works
When you deposit assets into a P0 Bank, your deposit joins a lending pool that borrowers draw from. Borrowers pay interest on their loans, and that interest is distributed proportionally to all lenders in the pool.
Your yield depends on:
- Utilization -- Higher utilization (more borrowing) means higher lending rates.
- Interest rate curve -- Each Bank has its own rate curve that determines how rates change with utilization. See Interest Rates for details.
- Compounding -- Interest compounds every time anyone interacts with the Bank, passively growing your balance.
You do not need to claim or harvest yield. Interest accrues automatically through the share system. Your deposit is simply worth more over time.
Depositing on P0's Native Market
- Connect your wallet at app.0.xyz.
- Browse available Banks on the lending page. Each Bank shows the current APY and total deposits.
- Select the asset you want to deposit (e.g., USDC, SOL).
- Enter the amount.
- Review and confirm the transaction in your wallet.
Your deposit immediately begins earning interest.
Depositing Cross-Venue Collateral
P0 integrates with third-party venues like Kamino and Drift, so you can deposit into those venues through P0 and have your positions count toward your unified collateral.
Currently supported:
- Kamino -- Main, Maple, Jito, JLP, and Marinade markets
- Drift -- Lending markets
When you deposit into a cross-venue Bank (e.g., Kamino Main Market USDC), P0 inserts a self-custodial account between you and the underlying venue. Your yield comes from the originating venue's borrowers, not from P0. For example, depositing into the Kamino USDC Bank earns the same interest as any other Kamino USDC depositor.
This is the core of P0's prime broker functionality: your deposits across multiple venues are unified under a single account with a single health factor. You can then borrow against your entire cross-venue portfolio.
Cross-venue deposits use venue-specific instructions (e.g., kamino_deposit instead of the standard deposit). The app handles this automatically.
Withdrawing
You can withdraw your deposits at any time, as long as sufficient liquidity exists in the Bank (i.e., not all funds are currently borrowed out).
- Partial withdrawal: Specify the amount you want to withdraw.
- Full withdrawal: Use the "withdraw all" option to close your position completely, including any interest accrued up to that moment.
If a Bank is at very high utilization (close to 100%), you may not be able to withdraw your full balance immediately. The high interest rates at extreme utilization incentivize borrowers to repay, which frees up liquidity for withdrawals.
Emissions and Incentives
Some Banks offer additional token incentives on top of interest yield. These campaigns distribute bonus tokens to depositors (and sometimes borrowers) on a pro-rata basis, typically airdropped on Wednesdays.
Some campaigns are paired: you must both lend one asset and borrow another to qualify (e.g., lend an LST and borrow SOL).
See Emissions for full details on how campaigns work, minimum thresholds, and paired emissions.