Incentivised testnet
Last updated
Last updated
Lending Position Contribution: 100 points for putting up LP Position for lending on testnet. (1 per user)
Step 1: Set up a compatible wallet
The first step is to set up a wallet that supports Ethereum and ERC-20 tokens. We recommend using wallets such as MetaMask or MyEtherWallet, but you can also use any other Ethereum-compatible wallet.
Step 2: Add liquidity on Uniswap V3 by collecting test tokens from Faucet
Load your wallet with the tokens of a pair you want to provide liquidity to (for example. ETH & DPST). Here’s how you can add liquidity to an existing or a new pair on Uniswap V3 easily: https://support.uniswap.org/hc/en-us/articles/7423194619661-How-to-provide-liquidity-on-Uniswap-V3
To load your wallet with test ETH and DPST, use the following faucets to claim: 1. ETH testnet Faucet: https://faucet.quicknode.com/ethereum/goerli
2. DPST testnet Faucet:
Once you’ve added liquidity to Uniswap V3, based on the pool and your parameters selected on the liquidity providing interface a unique NFT will be minted representing & backing your position in that specific pool. As the owner of this NFT, you can modify or redeem the position.
Step 3: Connect your wallet on DeFi Pool Share
Once you have set up your wallet, you can connect it to DeFi Pool Share by visiting our app and connecting your wallet through the "Connect Wallet" button. This will allow you to view your Uniswap V3 Position NFTs and available pools.
Step 4: Set up lending terms & lock your Uniswap V3 position NFT
For providing liquidity to a Uniswap V3 Pool, you receive an LP NFT. Now that you have a Uniswap V3 LP NFT, you can set up lending terms like lending fees & duration of the loan and then lock it into our lending smart-contract for the loan duration. Borrowers will then start bidding for borrowing your position. We encourage users to choose minimum DPST as lending fee so more borrowers are encouraged on the testnet to borrow for effective testing of the protocol. .
Step 5: Accept a bid from a borrower
Once a borrower has placed a bid on your Uniswap Position NFT, you can review the bid and decide whether to accept or reject it. If you accept the bid, the borrower will need to pay the lending fee and gain access to the claim yield function of your Uniswap V3 position NFT, and you’ll receive upfront the agreed-upon lending fees. In case you don’t accept any bid, you’re free to withdraw your locked NFT from the smart-contract irrespective of loan duration since the loan hasn’t actually begun on-chain.
Step 6: Withdraw Uniswap V3 Position NFT
At the end of the loan duration, the lender will get an option to withdraw their Uniswap V3 Position NFT.
Borrowing Position: 50 points for borrowing someone else’ LP Position on testnet (4 per user)
Step 1: Set up a wallet
The first step is to set up a compatible wallet that supports Ethereum and ERC-20 tokens. We recommend using wallets such as MetaMask or MyEtherWallet, but you can also use any other Ethereum-compatible wallet.
Step 2: Connect your wallet to DeFi Pool Share
Once you have set up your wallet, you can connect it to DeFi Pool Share by visiting our website and connecting your wallet through the "Connect Wallet" button. This will allow you to view available pool shares.
Step 3: Borrow a Uniswap V3 Position NFT
If you are interested in borrowing a pool position, you can browse available pool positions NFT and borrow a specific position that matches your needs. After paying lending for the borrowyed position, you will gain access to the claim yield function of the Pool Position for the duration of the loan.
To borrow an LP NFT on the protocol, you can use your testnet DPST to pay the lending fee. DPST Testnet Faucet:
III. Claim Yield on your borrowed position: 100 points (Once per user)
Simply make a trade on Uniswap of the particular pool you have borrowed a position of, for example here, ETH/DPST
As a borrower, you will be able to claim your share of the yield generated by the Uniswap V3 pool during the loan period. This is done through our platform, and the yields will be claimed directly on your wallet.
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