You can simultaneously receive Supercharge and Moola rewards on Moola stablecoins (mCUSD, mCEUR, mCREAL).
What is Moola Market?
Moola Market is a decentralized liquidity protocol built on Celo. This means that they offer loans that are funded by depositors. In return, depositors earn compound interest on their deposits.
While Supercharge only gives you rewards on one asset, you can earn interest on multiple Moola assets. It is possible to earn Moola interest and Supercharge on the same asset. In order to do this, your Moola stablecoin must be your highest-value balance (in USD, capped at 1000 USD) out of all your assets that are eligible for Supercharge.
Learn more about Supercharge requirements.
How to get Moola stablecoins
You can get a Moola stablecoin by either:
- Depositing funds directly in the Moola dapp.
- In Valora, go to Menu > Dapps, tap on the Moola dapp, then Go to Moola.
- Connect your wallet to Moola (this may happen automatically).
- Tap Deposit, then enter an amount. Tap Next.
Note: The asset you choose to deposit will result in you receiving the Moola stablecoin counterpart. For example, depositing cUSD will give mCUSD.
To Supercharge on a Moola stablecoin, its balance (calculated in USD) must be the highest among all of your assets that are eligible for Supercharge.
- Review the details, then tap Confirm.
- Swapping an asset for a Moola stablecoin.
- In Valora, go to Menu > Dapps and choose a dapp from the Swap category.
- Connect your wallet (this may happen automatically).
- Enter the amount and asset (that you own) and select a Moola stablecoin to receive.
- Complete the transaction.
*All blockchain transactions incur a fee. Moola Market requires CELO to pay these fees. You can purchase CELO by adding funds or exchanging your Celo stablecoin for CELO.
How do I see my Moola rewards?
Moola rewards are automatically added to your balance. You can view your balance on Celo Explorer:
- Visit Celo Explorer and search for your Valora Account Address.
- Tap on the Tokens tab.
- Scroll down until you find your Moola stablecoin. Note: In Celo Explorer, these are labeled as “Moola Interest Bearing <Celo Stablecoin>.”
How do I withdraw funds from Moola?
You can withdraw your Moola funds by either swapping your Moola stablecoin for another asset (using another dapp) or using the Withdraw function in the Moola dapp.
Can I borrow against collateral and still get Supercharge rewards?
Yes. If you are Supercharging on a Moola stablecoin balance and use it as collateral to take out a loan, you will continue to receive Supercharge rewards. This is true as long as your loan’s Health Factor is above 1; otherwise, your collateral is at risk of liquidation.