⭐Quick Start Guide
Last updated
Last updated
Welcome to TheStandard.io, your portal to decentralized finance (DeFi) borrowing. This guide will walk you through the steps to start using our platform for DeFi borrowing activities. It assumes that you already have the Arbitrum One network added to your Web3 wallet and have funds ready to borrow against.
NOTE: If you need help adding the Arbirum network to your Metamaks or other web3 wallet then we have a detailed guide for that.
Visit TheStandard.io: Click on the open Dapp button, or simply click here.
Connect Wallet: Click on the "Connect Wallet" button. Select MetaMask or your preferred Web3 wallet from the popup. Ensure you are connected to the Arbitrum One network.
Creating a smart vault allows you to borrow against your collateral with ease. Here's how to get started:
Initiate Smart Vault Creation: On TheStandard.io, click on "Create Smart Vault" for either EUROs or USDs (COMING SOON), based on your preference.
Authorize Transaction: MetaMask (or your chosen Web3 wallet) will prompt you to sign a transaction. This step communicates with the smart contract to create a new smart vault exclusive to your wallet. During this process, your dynamic NFT is also minted. While we'll delve into the specifics of the NFT later, understand it represents a novel way to sell or transfer your smart vault should you choose to.
Select Collateral Type: Choose the type of asset you'd like to use as collateral. Our platform supports a variety of assets including WBTC, ETH, ARB, LINK, PAXG, and more.
Deposit Collateral: Enter the amount of the asset you want to deposit as collateral. Ensure you have sufficient funds in your wallet for the transaction.
Confirm Collateral Upload: Review the transaction details and confirm the collateral upload in your Web3 wallet. The assets will then be securely locked in your smart vault.
Choose Borrow/Repay:You will now see your borrowing and repayment interface. You will be on Borrow by default.
How much EUROs you would like to borrow: Input the amount of EUROs you would like to borrow and keep an eye on your health bar along the top right of the interface. This will let you know how close you are to the liquidation ratio of 110% collateral.
Initiate Borrowing: Review all details carefully. Confirm and initiate the borrowing process in your wallet by clicking the withdrawal button.
Be sure you have added EUROs to your web3 wallet. EUROs Arbitrum Contract Addresses: 0x643b34980e635719c15a2d4ce69571a258f940e9 https://arbiscan.io/address/0x643b34980e635719c15a2d4ce69571a258f940e9 You can automatically add EUROs to MetaMask by clicking the "Add EUROs" button on the bottom left of this page.
Underneath the amount the user wants to borrow they will see
the address they are going to mint the EUROs to,
that the interest is a fixed 0%interest loan,
what the one time minting fee currently is,
how much EUROs is being minted
how much EUROs will arrive in the users wallet.
NOTE: All fees generated across the protocol get dropped onto people staking in the Yield account so it's definitely worth your while checking that out.
Trading Locked Collateral: You can trade portions of your locked collateral within TheStandard.io based on market trends.
Adding Collateral: Boost your collateralization ratio by adding more collateral anytime.
Repaying Debt: Use the platform interface to repay your borrowed amount and unlock your collateral.
Be sure to grab yourself some TST (TheStandard Token) You can get this directly on the yield page using the DEX interface.
Click on YIELD ACCOUNT in the top navigation bar.
Make sure you grab yourself some TST
Stake an equal amount of coins TST and EUROs. This means if you want to stake 2000 EUROs, then you should also stake 2000 TST.
NOTE: If you have placed 25K EUROs into the yield accounts but only 1K TST staked, then the Yield accounts will only ever use 1K of your EUROs to buy liquidated assets at the discounted rate of around 10%. We recommend having an equal amount of TST as EUROs in token amount. This will bring you the largest returns.
TST will attract all fees paid from Minting new debt. This will be placed into your yield account as EUROs. This is a great way of compounding your EUROs. The EUROs are used to buy up crypto at around a 9.91% discount. These cryptos come from
Assets from vaults that have been liquidated.
Fees are collected from swapping / trading locked collateral. Every time someone trades, a 1% fee is taken in the asset being traded out of. This crypto is sold to people who have placed EUROs in their yield accounts.
Additional Features
Explore Yield Accounts for earnings and the option to sell or transfer your smart vault NFT for greater liquidity or wallet management.
