U-CDS Hatching Part 1

Requirements

  1. Metamask installed.
  2. Access to test account you provided during signup.

Step 1: Check your assets

  1. Switch your wallet to Rinkeby, the testnet on which Hatching will take place. Compound has a great guide on how to switch to testnet. Please make sure you are on Rinkeby!
  2. Your wallet should have 0.005 ETH for gas; 5,000 USDC for supplying and buying protection.
  3. All tokens are test tokens that work only in Rinkeby and have zero value.

Step 2: Add Liquidity

  1. Go to Sell Protection Marketplace.
  2. You will see 3 U-CDS products: Adamant, Alchemix, and Bancor. Note: these projects were selected 100% for test purposes. They do not represent what we are or are not launching to production with.
  3. Click into Bancor U-CDS.
  4. Enter 1,000 USDC for amount of liquidity to add and click Add.
  5. You will be prompted with the standard “dual confirm” — once to grant permission to spend USDC and once to Add. Confirm both transactions. Note: if you previously already added USDC to a product, you may not have to grant permission.
  6. Repeat above steps for Adamant and Alchemix, and enter any amount between 500 and 1,000 USDC for each.

Step 3: Buy U-CDS

  1. Go to Buy Protection Marketplace.
  2. You will see 3 U-CDS products: Adamant, Alchemix, and Bancor. Note: these projects were selected 100% for test purposes. They do not represent what we are or are not launching to production with.
  3. Click into Bancor U-CDS.
  4. Enter 100 USDC for amount.
  5. Enter any number between 7 and 180 days for the term. Term represents the length of time you want coverage for. The max term we are offering is 180 days.
  6. Click Quote. Note: You may see very low prices which is expected due to the low event probabilities we set for the pools.
  7. Click Buy Cover and you will be taken to final confirmation screen.
  8. Click Buy Cover again.
  9. You will be prompted with the standard “dual confirm” — once to grant permission to spend USDC and once to Buy protection. Confirm both transactions. Note: if you previously already bought a product, you may not have to grant permission.
  10. Repeat above steps for Adamant and Alchemix and buy any protection amount between 50 and 100 USDC for each project.

Step 4: Withdraw Liquidity

  1. Wait 1 day (24 hours) since your last liquidity add for the cool-down period to end.
  2. Go to Stake.
  3. Under My Liquidity, click Withdraw next to Bancor pool.
  4. Enter 10 USDC for the Amount.
  5. Click Remove.
  6. Confirm the transaction.
  7. Repeat for Adamant and Alchemix, for any amounts between 10 and 20 USDC.

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UNN Finance

UNN Finance

Building a set of tools to create a complete ecosystem, specifically designed for DeFi