Testnet Lend Instructions
Last updated
Last updated
Open the site and click the Connect button to link the wallet you previously used during the phase and phase.
The disconnect, copy address and view on explorer options will be available by clicking on the connected wallet in the top right corner.
Your Supplies and Borrows will not be displayed if there were no transactions in the Lending protocol with the current wallet.
Click the Supply button of WBTC.
Supply any amount preferably more than 60% of your token balance.
Click Approve and confirm the transaction in Metamask.
Next, click the Supply button and confirm the transaction in Metamask..
The token will be supplied, by default collateral toggle will be enabled.
After that you will have 2 assets in your Supplies.
To borrow tokens click Borrow button. Let's borrow USDT.
Choose any amount below maximal. Click Enter amount and confirm transaction in Metamask.
Now on a main screen added a new parameter - Health Factor is a crucial metric that measures the safety of a Borrow position.
To understand its mechanism lets Borrow more tokens (or Withdraw some Supply) to make the Health Factor lower and as much close to 1.5 as possible.
I had to Withdraw all WBTC and Borrow more USDC to achieve Health Factor at 1.50.
A Health Factor of 1.5 means that your collateral is 1.5 times greater than the required minimum collateralization level. Health Factor 1.5 and lower is close to critical, when user needs to interact with Protocol to adjust it.
A health factor below 1 risks liquidation. To increase it Repay some of your loan (Borrow positions) or deposit more collateral (add more Supply).
Click the View Transactions button located in the top right corner of the site to check the history.
Will be displayed all history of your interaction with Protocol.
Now supply any amount of WETH by following similar steps .
1. Please complete the and list all the issues you encountered.
