User Guidance
Last updated
Last updated
The first step is to connect the app with a wallet to use the money market. In this guidance we’ll go ahead with BloctoWallet. It also supports to connect with LilicoWallet.
BloctoWallet requires your email to sign in/register, a one time passcode will be sent to your email. If you’re a frequent Blocto user, it might also automatically connect.
Choose the token market (currently FLOW, FUSD, USDC & BLT are available) you want to deposit into, clicking 'Supply' button and then approve the transaction:
Supplied funds can be used as collaterals to borrow other fungible tokens. Let’s take the FLOW token as an example:
Click 'Safe Max' to automatically fill in the borrow Amount so that only 60% of the maximum borrow limit is used. You can manually edit that value, but just keeping in mind that the higher the percentage of borrow limit is used, the closer to liquidation the account is.
Once borrowed, the page status will change and show your position status, net apr and the supply/borrow balance.
In this example the repay button is greyed out because the user has no borrow position that needs to be repaid.
Lower the borrow limit percentage by repaying back borrowed amount plus interest. Click 'Repay' button and switch to the 'Repay' card to perform the transaction:
Withdraw the supplied assets as well as generated yields by clicking 'Redeem' button and switch to the 'Redeem' card:
Still, the 'Safe Max' label is to protect the account from liquidation and automatically fill in the redeemed amount, which can be manually modified.
The '/Markets' page exposes global statistics like total TVL, number of suppliers and borrowers, as well as per-market data like market liquidity, supply APR and borrow APR, etc.:
Further market parameters such as InterestRateModel, Collateral Factor, etc. can be viewed by clicking into the asset list:
