The latest version of the Bandot testnet is online: the unsecured lending module has officially started its test phase. We would like to invite users to experience the new unsecured lending testnet.
Today, we have completed another important milestone. In the new version of the Bandot testnet, the unsecured lending function has been activated and is ready for trial.
Guide to Bandot Unsecured Lending System
This guide is for users on PC to experience the testnet. It is strongly recommended to download and use the Google Chrome browser with up-to-date plug-ins.
Create a Polkadot.js Account (users that already have an account can skip this step)
1. Download Google Chrome browser (use Google to search Google Chrome)
2. Enter the following URL in the browser, and click to download the Polkadot.js plug-in directly:
3. After the download is completed, click on the extension in the upper right corner of the browser to find the orange Polkadot.js. which is the orange logo. Choose Create New Account, copy and record your mnemonic phrase in a proper, safe place (forgetting the mnemonic phrase will make it impossible to retrieve the account). Check the agreement and tick the box, click Next, and enter the account name and password twice.
(The orange words is the mnemonic phrase, please keep it secure)
The number above is your DOT address
Faucet and Loan Guarantee Application
4.Click on Faucet (top Right menu) to get free DOT testnet tokens and put in your Polkadot wallet address
5.Click on Dashboard button, and you can see your balance
6.You can deposit your DOT into the pool and get the interest.
7.Click the Withdraw button , you can get back your DOT from the pool
In this version, we modify the guarantor’s mechanism. Any user who wants to borrow from the market must find a guarantor.
You can also be a member of the guarantor, but guarantee the loan for yourself.
The amount you deposit is the amount you can guarantee.
If you want to guarantee someone, you can enter his wallet address in the text box and the amount , and click confirm.
After ,you can see the amount of guarantee for an address on the right
8.The guarantor clicks on the borrow button to see the amount of loans that can be borrowed in the system
9.Click Borrow button, you will see this page and click confirm
and then you can see in the borrow page, 1 Debts and 4 DOT .
10.To return the loan, click the repay button and enter the return amount
11.The guarantor can view the total guaranteed amount and the settled amount on the dashboard panel.
Above is the operation process of the entire testnet.
You are sincerely invited to participate. If you find any bug information, please provide us and get incentives.
Please send Bug to email: contact@bandot.io
