LeverFi (LEVER) is a decentralized finance (DeFi) protocol on the Ethereum Blockchain that aims to optimize asset efficiency and trading. LeverFi addresses the pain points of existing DeFi protocols by offering a range of features designed to reduce risks, provide sustainable returns, and optimize asset management. In this article, you can find answers to two frequently asked questions: What is LeverFi (LEVER) and how to buy LeverFi (LEVER) with TRY.
What is LeverFi (LEVER)?
LeverFi is a non-custodial, on-chain leveraged trading protocol designed to enhance asset efficiency within the DeFi ecosystem. Asset efficiency refers to the effective use of time and assets to maximize returns while minimizing risks and costs. LeverFi provides users with transparency and self-custody over their assets, offering a seamless trading experience while mitigating common DeFi issues.
Investors on LeverFi have the opportunity to manage their yield-generating assets within a single collateral basket, allowing them to take larger trading positions while reducing liquidation risk. Additionally, investors can earn yields while trading on margin, and the protocol routes transactions through various trading protocols to ensure optimal pricing and minimal slippage.
Lenders on LeverFi can earn real yields by lending their assets to traders without being exposed to directional risks. LeverFi’s robust protocol design facilitates secure and non-custodial interactions between lenders and traders, offering highly competitive and sustainable returns.
LeverFi operates through four main components: the Collateral Manager, Trading Manager, Lending Manager, and Risk Manager. Supported by smart contracts, these components facilitate tasks such as collateral management, trade execution, yield accrual, and risk management within the protocol.
LeverFi stands out in the DeFi environment for several reasons. It allows investors to earn yields and leverage trades simultaneously, offers transaction settlement on the protocol, and enables the consolidation of assets into a unified collateral basket for cross-margin trading. LeverFi also prioritizes optimized asset pricing, enhanced investor support, and competitive real yields in the market.
LEVER coin is the mainnet asset of the LeverFi ecosystem, serving both as a governance token and a tool for users to stake and earn rewards. LEVER holders can participate in protocol governance and stake their tokens to earn a portion of the platform fees generated from user activities.
How to Buy LeverFi (LEVER) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy LeverFi (LEVER). On Binance TR, where you can quickly create an account, you can buy and sell over 100 cryptocurrencies, including LEVER. To buy LeverFi (LEVER) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. To do this, go to trbinance.com and continue from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, an email/SMS verification will be performed to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process either from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” In the next step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click on the “Copy URL” option to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, continue by tapping on the “Identity” option first.
Then a screen like the one below will appear. To continue the verification process, first select the document type that is suitable for you and continue.
After selecting the document type, continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. Make sure that the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure that your face fills the camera area as much as possible once the camera opens.
After completing all these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account through all banks. You can deposit and trade seamlessly 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 via FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If the bank you prefer is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can transfer funds via wire transfer, EFT, or FAST. All you need to do is use the information displayed on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via wire transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy LEVER Coin with TL on Binance TR?
After the deposit process, you can proceed to the step of buying LEVER coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the following page will open. On the right side of this page, type “LEVER” in the search box and click on the LEVER/TRY option from the results to go to the LEVER purchase page with TL.
Now the following LEVER trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy LEVER in the first box and the number of LEVER you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy LEVER” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functions can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
