How to Use Summer.fi – Complete Breakdown

Summer.fi is a powerful decentralized finance (DeFi) platform that simplifies lending, borrowing, multiplying, and automation on top of protocols like MakerDAO and Spark. 

Whether you're here to passively earn yield or build complex strategies with leverage and automation, Summer.fi offers intuitive tools in one unified frontend.

This complete guide walks you through how to use Summer.fi effectively, including core actions like opening a vault, using Multiply strategies, and setting up automations.

Key Takeaways

• Summer.fi allows users to borrow, lend, and multiply assets using MakerDAO and Spark.
• Multiply Vaults offer easy access to leverage with minimal complexity.
• Users can automate actions like stop-loss, take-profit, and auto-sell for risk management.

Step 1: Connect Your Wallet

To start using Summer.fi, visit https://summer.fi and connect your Ethereum wallet. The platform supports commonly used wallets like MetaMask, Coinbase Wallet, and WalletConnect. Make sure your wallet is funded with ETH for gas fees and DAI or other supported collateral tokens depending on the vault you plan to open.

Step 2: Choose a Vault Type

Summer.fi supports different types of vaults based on the underlying protocols. Two primary vault types are:

• Maker Vaults: Use protocols like MakerDAO for opening CDPs (collateralized debt positions).
• Spark Vaults: Use Spark Protocol to borrow DAI and optimize positions.

You’ll be able to select the collateral type (e.g., ETH, WSTETH, DAI) and corresponding strategies (Borrow or Multiply).

Step 3: Open a Vault

Once you've selected the asset and vault type, input how much collateral you want to deposit and how much DAI (or another stablecoin) you want to borrow. The dashboard will show you important metrics like:

• Current collateral ratio
• Liquidation price
• Stability fee (interest)

You can review and confirm the transaction in your wallet to open the vault.

Using Multiply Vaults

Multiply Vaults are designed to let users gain increased exposure to assets without having to manually loop trades. Instead of borrowing DAI to withdraw, you can borrow DAI and reinvest it back into more of the same collateral—thus "multiplying" your position.

Steps:

1. Select "Multiply" instead of "Borrow" when opening the vault.
2. Choose your desired leverage ratio (e.g., 2x, 3x).
3. Monitor your new collateral ratio and liquidation risk.

Multiply Vaults are ideal for users who want more aggressive returns while staying on-chain.

Automate Your Position

Summer.fi allows users to automate their vault management through simple yet powerful tools. Automation features include:

• Stop-Loss: Automatically sell collateral to repay debt if price drops to a set threshold.
• Take-Profit: Automatically exit your Multiply Vault if the asset price reaches your target.
  Auto-Sell: Reduce exposure once gains are locked in.
• Auto-Buy: Re-enter positions when favorable market conditions return.

You can configure automations directly in the vault interface, reducing the need for manual monitoring.

Monitor and Adjust

Once your vault is open and automation is active, you can monitor performance through Summer.fi’s user dashboard. Key data includes:

• Collateral balance
• Current debt
• Collateralization ratio
• Price feed tracking

You can also adjust collateral or debt, change automation settings, or close the vault at any time.

Final Thoughts

Summer.fi offers a streamlined way to interact with complex DeFi tools like MakerDAO and Spark, making it accessible for both new users and experienced yield strategists. From opening a vault to multiplying exposure and automating exits, every action is clearly laid out with intuitive prompts and visual feedback.

FAQs

Is Summer.fi beginner-friendly?

Yes. Summer.fi offers a clean interface and step-by-step flows that make it easy to borrow or multiply assets without needing deep DeFi knowledge.

What happens if my vault gets liquidated?

If your collateral ratio falls below the minimum, your position may be liquidated, meaning your collateral is sold to repay the debt. Automation tools can help prevent this.

Can I use Summer.fi on chains other than Ethereum?

Currently, Summer.fi is focused on Ethereum and supports protocols like MakerDAO and Spark. Multi-chain support may come in the future.