cTokens are a yield-bearing deposit receipt. It means you can convert USDC into cUSDC to get a tradeable token that also earns interest on Solend. You can hold this token in your wallet to continue earning interest, or you can send it to someone else, and they’ll earn interest.
cTokens open up a world of possibilities for developer integrations. Because cTokens are just regular SPL tokens, they’re easily composable and compatible with just about everything! If you’re working on something that uses Solend cTokens, check out our Developer Portal and Grants Program!
Take note that cTokens currently do not have liquidity mining, such as additional SLND or MNDE rewards. You can mint cTokens here.
Normally, if you are using our Main Lend/Borrow, your cTokens will be held in custody by our smart contracts to be used as "collateral" for borrowing against it. This tool is mainly for developers to integrate our cTokens into their protocols, and then direct their users here to mint their cTokens.
- cToken Ratio acts as a % ownership of the LP
- For a pool with 99 USDC, if you deposit 1 USDC, you will own 1% of the pool
- When the RefreshReserve occurs, the pool now has 110 USDC. Your 1% is now worth 1.1 USDC.
cToken Ratio is calculated by taking the Total USDC in the reserves / cUSDC in Circulation.