> For the complete documentation index, see [llms.txt](https://docs.aeralend.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aeralend.app/getting-started/lend-cook.md).

# Lend COOK

Lending is the simpler half of Aera. You put COOK into the pool, borrowers pay interest on what they take out, and your claim on the pool grows.

## 1. Press Lend on the COOK row

The Core market is on the main screen. COOK is the row you can lend and borrow; bCOOK is collateral only.

<figure><img src="/files/0ErhIAt5RMp6yMQmphlx" alt="Pressing Lend on the COOK row and entering an amount"><figcaption><p>The sheet opens over the page — nothing navigates away. Type an amount, or use <strong>25% / 50% / 75% / MAX</strong>.</p></figcaption></figure>

{% hint style="info" %}
**MAX does not spend everything.** COOK is Cookie Chain's native token, so it also pays your transaction fees. MAX holds a small amount back — a transaction that spends your entire balance cannot pay for itself.
{% endhint %}

## 2. Sign

Aera builds the transaction, simulates it against the current chain state, and shows you the result before asking for a signature. If the simulation fails you are told why, and nothing is sent.

## What you get back

**aCOOK**, a receipt representing your share of the pool. It does not pay out — its redemption value rises, so the same balance redeems for more COOK over time.

{% content-ref url="/pages/3umjz1IM5qTUtCgJqySr" %}
[Lending and aCOOK](/how-it-works/lending-and-acook.md)
{% endcontent-ref %}

## What you earn

The lend rate is not fixed. It is derived from how much of the pool is currently borrowed, and it changes as borrowers come and go. At 60% utilization a 10% borrow rate works out to roughly **5.1%** for lenders — you earn on the share that is actually lent out, less Aera's 15% cut of the interest.

{% content-ref url="/pages/HMFD5NiTz6HoYpC2n8Cm" %}
[Interest and fees](/how-it-works/interest-and-fees.md)
{% endcontent-ref %}

## Getting it back

Press **Withdraw** on the Lent row of your position.

<figure><img src="/files/SJrEg0TkgJuzR5NPncOB" alt="Pressing Withdraw and taking the maximum"><figcaption><p><strong>MAX</strong> here is your balance or the pool's free liquidity, whichever is smaller.</p></figcaption></figure>

The limit is whatever is **available** in the pool. If borrowers have taken most of the liquidity, you withdraw what is free and wait for repayments or new lenders.

{% hint style="warning" %}
Lending is not risk-free. You are exposed to the solvency of the loans the pool has made. See [Risks](/security/risks.md).
{% endhint %}


---

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