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--- | ||
id: first_steps | ||
title: First Steps | ||
sidebar_position: 1 | ||
--- | ||
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## Getting Started on Starknet | ||
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The first step consists of installing Starknet wallets and bridging funds to your account. The entire setup process is explained in detail [here](https://www.starknet.io/en/content/getting-started-using-starknet-setting-up-a-starknet-wallet). | ||
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## Connect to Nimbora | ||
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The process begins by visiting the Nimbora platform at https://app.nimbora.io/ | ||
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Click “**Connect Wallet**” in the top right corner | ||
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![Untitled](https://i.imgur.com/SaXJ9qq.png) | ||
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Select one of the two available wallet options ([Braavos](https://braavos.app/) or [ArgentX](https://argent.xyz/)) | ||
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![Untitled](https://i.imgur.com/pwjsKxV.png) | ||
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For the sake of this tutorial we will be using **Argent X** wallet extension. | ||
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![Untitled](https://i.imgur.com/517pTc6.png) | ||
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Follow the notification prompt and click on “**Connect**” | ||
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![Untitled](https://i.imgur.com/pnBwOEo.png) | ||
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### This enable Nimbora to: | ||
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- Read your wallet address | ||
- Request transactions | ||
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*You will still need to sign any new transaction* | ||
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Voila! “**Connect wallet**” will be replaced with your wallet address, indicating you are successfully connected. | ||
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![Untitled](https://i.imgur.com/31dDkrK.png) |
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--- | ||
id: earn | ||
title: Earn | ||
sidebar_position: 2 | ||
sidebar_class_name: hidden | ||
--- | ||
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## Understanding the Earn Section | ||
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There are several yield strategies with different underlying tokens and APR (Annual Percentage Rate). Each card represent a certain strategy, it can be a lending pool, a strategy aggregator, an AMM liquidity pool... | ||
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![alt](/content/earn.png) | ||
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**APR is the percentage of assets you will earn on your deposit after a year**. If you want to deposit $100 of a certain token in a strategy, if APR is 10% avergae you'll earn $10 after a year. | ||
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**APR is not fixed**. APR can change based on several factor such as market condition or the net asset value of the L1 strategy. | ||
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**Underlying protocols**. Underlying protocols linked to the strategy are displayed, you can choose the one you are the most comfortable with. | ||
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**Underlying token**. The underlying token is the token used to deposit into the strategy, strategy yield bearing token is correlated to the underlying, just providing additional rewards. | ||
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**Total value locked**. The total value locked (TVL) is the total amount of assets held in the strategy converted in USD. | ||
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Choose the strategy that you want and click on the card for next steps | ||
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## How to deposit | ||
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Enter the amount you want to deposit or click on the buttons to set a desired percentage of your balance you want to deposit. | ||
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![alt](/content/hdeposit.png) | ||
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When you've selected the token amount to deposit, click on "deposit" and follow the prompts on your wallet (Argent or Braavos) to complete the transaction. | ||
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![alt](/content/rdeposit.png) | ||
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Once the transaction has been accepted on the network, a popup will appear at the bottom right of the screen to let you know. | ||
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![alt](/content/fdeposit.png) | ||
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You can consult all of your recent deposits in the wallet section, your transaction should be here. | ||
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![alt](/content/cdeposit.png) | ||
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And that's it, you should be able to see your balance of nimbora yield token into the portfolio section or directly into your wallet browser. | ||
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## How to request a withdrawal | ||
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Withdrawal are not synchronous such as deposits they take an average of 1 day to be processed, a fast withdrawal option should arrive later on. | ||
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First, you need to decide on the amount you want to withdraw. This could be all or a portion of your assets. | ||
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![alt](/content/hwithdraw.png) | ||
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Once you've made up your mind, locate and click on the 'withdraw' button and follow the prompts on your wallet (Argent or Braavos) to complete the transaction. | ||
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![alt](/content/rwithdraw.png) | ||
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Once the transaction has been accepted on the network, a popup will appear at the bottom right of the screen to let you know. | ||
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![alt](/content/fwithdraw.png) | ||
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You can consult all of your recent deposits in the wallet section, your transaction should be here. | ||
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![alt](/content/cwithdraw.png) | ||
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And that's it, you should see your pending request in the navbar. | ||
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![alt](/content/pwithdraw.png) | ||
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Nimbora takes over the task of processing this request. This involves preparing your assets in order to be transferred back to your Wallet, a process that is handled entirely behind the scenes to ensure a smooth and efficient operation. Once the request is ready to be claimed, nimbora relayer will handle it and send it directly into your wallet. | ||
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--- | ||
id: borrow | ||
title: Borrow | ||
sidebar_position: 3 | ||
--- | ||
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## Understanding the Borrow Section | ||
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There are 2 cards (troves) with 2 different TCR (total collateral ratio). The CR is not fixed, as its value is pegged to the ETH price. That is why the screenshot below might not match the current numbers you will see once you open the troves. | ||
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![Untitled](https://i.imgur.com/ERJ3ast.png) | ||
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**TCR is the percentage of assets you need to lock up as collateral when borrowing**. If you want to borrow $100 and the TCR is 676%, you must provide $676 worth of assets as collateral. | ||
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Lets take as an example this image above - trove 604 TCR will require **less collateral** compared to Trove 910 CR, but Trove 910 TCR is **more secure** than Trove 604 . | ||
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Consider this scenario: if all troves were open when the ETH price was at $1600, Trove 910 would have a higher tolerance for price fluctuations compared to Trove 604, allowing it to withstand a more significant drop in ETH price before facing liquidation. | ||
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Once the collateral is deposited and locked, users can borrow against it according to the platform's loan-to-value ratio. If the value of the collateral falls below certain thresholds, the system may automatically liquidate the assets to repay the loan. | ||
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### **Which trove should you select?** | ||
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This depends on how much LUSD you want to borrow and ongoing initiatives. | ||
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The left trove offers a unique opportunity for users to borrow with minimal transaction costs, subsidized by the [Nimbora x Liquity](https://medium.com/@Nimbora/defi-spring-just-got-better-earn-strk-with-nimbora-x-liquity-d7e881f22c38) collaboration. | ||
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## How to borrow | ||
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Enter the amount you want to supply or click on the buttons to set a desired percentage of your balance you want to deposit. You can also directly enter the amount of LUSD you want to borrow, both fields can be used. | ||
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![alt](/content/hborrow.png) | ||
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Finally, when you've selected the amount, click on "borrow" and follow the prompts on your wallet (Argent or Braavos) to complete the transaction. | ||
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![alt](/content/rborrow.png) | ||
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Once the transaction has been accepted on the network, a popup will appear at the bottom right of the screen to let you know. | ||
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![alt](/content/fborrow.png) | ||
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You can consult all of your recent borrow in the wallet sections, your transaction should be here. | ||
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![alt](/content/cborrow.png) | ||
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And that's it, your borrow request has been sent, you can see it in pending orders section. | ||
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![alt](/content/pborrow.png) | ||
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Borrow should be processed within a day, LUSD will be directly sent to your wallet. | ||
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## Repay the Loan | ||
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First, you need to decide on the amount you want to repay. This could be all of your debt or only a portion of it. | ||
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![alt](/content/hrepay.png) | ||
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Once you've made up your mind, locate and click on the 'repay' button and follow the prompts on your wallet (Argent or Braavos) to complete the transaction. | ||
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![alt](/content/rrepay.png) | ||
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Once the transaction has been accepted on the network, a popup will appear at the bottom right of the screen to let you know. | ||
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![alt](/content/frepay.png) | ||
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You can consult all of your recent repays in the wallet sections, your transaction should be here. | ||
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![alt](/content/crepay.png) | ||
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And that's it, your repay request has been sent, you can see it in pending orders section. | ||
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![alt](/content/prepay.png) | ||
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Repay should be processed within a day, ETH will be directly sent to your wallet. | ||
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