Yield Protocol is an Ethereum-based protocol for collateralized fixed-rate, fixed-term borrowing and lending.
Official webpage: https://app.yieldprotocol.com/ Official Twitter: https://twitter.com/yield Official Discord: http://discord.gg/JAFfDj5
According to the instructions, users must complete one of the following actions on the Arbitrum network during the event.
- Borrow > $100 in assets
- Lending > $50 in assets
- Provide liquidity with >$50 assets.
1.borrow >$100 worth of assets
Go to the official website
Make sure you are currently connected to the Arbitrum network
borrow at least $100
Choose ETH or DAI as collateral, in order to make the position safe, please pay attention to mortgage enough ETH or DAI,
Minimum140% means that positions will be liquidated when the collateralization rate falls below this value.
Liquidation when1 WETH = 830.36 USDC: Under the current amount of collateral, if the ETH price is lower than 830.36, it will be liquidated.
Then click the transaction confirmation, and finally check the position in "DASHBOARD".
What happens to my collateral in the event of liquidation?
When the value of the collateral in a borrowing position becomes less than the value of the debt times the collateralization ratio, the position will be put up for auction. The auction will attempt to get the best price for your collateral and pay off the loan. However, the actual price received by the auction is determined by bids made by liquidators and there is no guarantee that any collateral will remain after the auction. After the auction completes, any remaining collateral will be returned to the original owner’s vault.
Repayment
Go to the "DASHBOARD" page to find the current loan to repay, and make sure you have enough USDC/DAI in your wallet to pay off the arrears.
2.Lend > $50 worth of assets
Click the Lend option, lend > $50 worth of assets
3.provide liquidity with >$50 worth of assets.
What is the difference between lend and pool?
Lending earns you a fixed rate. When you pool, you provide liquidity for both borrowing and lending. The returns to pooling depend on the fees earned by the pool and the path taken by interest rates. Liquidity providers may also earn interest from fyTokens held by the liquidity pool.
What is the difference between “Buy & Pool” and “Borrow & Pool” under Pool options?
Buy and Pool — this approach is best for users that are adding smaller amounts of liquidity. It minimizes gas costs while maximizing the amount of pool tokens received. This is the approach recommended for most users. Borrow and Pool — this approach is best for users that are adding significant amounts of liquidity to a pool. Although it may use more gas, this approach will not impact the current interest rate for the current series.
Troubleshooting
General
- Reset the app (click your profile picture > troubleshooting > ‘reset app’).
Not Loading
- Reset the app (click your profile picture > troubleshooting > ‘reset app’).
Transaction Aborted
- Go into the settings (click the profile picture) and select the option ‘Use approval by transactions’
Connection Error
- Please make sure you are connected to a supported network (ethereum/arbitrum).
- If you are using a wallet the is NOT metamask (or you are using a ledger), check that you do use WalletConnect as the connection method.
Remaining Debt will be Below Dust Levels.
The minimum debt that can be allowed in a vault at the time of writing is 5000 USD equivalent or 100 USD equivalent. If you try to repay an amount that would leave your debt under that level, the contracts won’t let you.
- Make sure that you have enough funds in your wallet to repay the entire debt.
Liquidated
We recognize the users that have been liquidated by giving them a “Protocol Hero” role on Discord.
If you have been liquidated, we need to verify that you own the liquidated vault:
- Go to https://www.myetherwallet.com/wallet/sign
- Connect with the wallet that owns the liquidated vault
- Sign a message with any text in it
- Post the result in a #create-ticket channel in Discord.
Maybe It’s a Bug
Please check in the bug tracker if there is an issue matching what you’ve found. If there is, you can consider waiting, or giving us a nudge so that we prioritize it.
If Everything Else Fails
If you can’t solve your issue with the instructions here, please open a support ticket in our Discord #create-ticket channel. We can’t provide support on public channels for security reasons.
- Tell us what is that you were trying to achieve.
- Tell us how did you arrive to the issue.
- Tell us your address.
- If there is any debugging information (a long string of non-sensical hexadecimal data), please copy and paste that in the ticket.
- Please be aware that certain levels of support are only available during European or American business hours.