Arable Protocol $ACRE and $arUSD on OSMOSIS
Your guide to Arable Protocol on Cosmos Ecosystem
Welcome to the world of derivatives and decentralized finance. Derivatives, like synthetic assets, are digital assets that are backed by collateral and can be used to gain exposure to a wide range of assets and markets. The Arable Protocol provides a seamless and secure platform for collateralizing, borrowing, and minting $arUSD. By leveraging the power of the Arable Protocol, you can gain access to a wide range of collateral options and earn rewards for providing liquidity to the $arUSD pool on Osmosis. With the Arable Protocol, you can experience the best of DeFi, from collateralizing your assets to earning rewards, all in one place. In this article, we will guide you through the process of adding liquidity for $arUSD on the Osmosis pool using the Arable Protocol, so you can start earning rewards.
Adding arUSD liquidity to Osmosis is a simple process that requires a few steps. In this article, we will guide you through the process of borrowing arUSD by putting collateral (ATOM/OSMO), transferring it to Osmosis, and putting liquidity for arUSD in the pool.
Before you begin, you will need a Keplr or Metamask wallet to connect to both Arable Protocol and Osmosis DEX.
I. Bridging tokens to Acrechain
- Go to https://app.arable.finance/#/ibc
- Connect your Metamask and make sure to change your network to Acrechain by clicking the top right button beside your address. Confirm the switch through Metamask
3. The summary of your assets will be shown along with the list of IBC tokens that you can withdraw and deposit from Acrechain.
4. Clicking deposit will open the option of moving the following tokens from their native chains to Acrechain, the tokens are:
(1) Osmosis Chain — Arable Token ($ACRE), Arable USD ($arUSD), Osmosis $OSMO
(2) Cosmos Chain — Atom ($ATOM)
(3) Axelar Chain — Axelar USDC ($axlUSDC)
To move $OSMO/$ATOM, connect both your Keplr and Metamask by clicking Connect Keplr and GET ADDRESS. Input your desired amount of token to be bridged to Acrechain and click on Deposit.
Make sure to approve the Keplr Interaction window that will appear by choosing the desired amount of fee and clicking on Approve.
5. After successfully depositing either $ATOM/$OSMO, we now need to bridge it to Acrechain ERC-20. Click on Convert
Make sure that you are choosing the IBC $OSMO and have the button Convert to ERC20. Input desired amount of assets to be bridged to ERC20 and click on the Convert to ERC20 button. A Metamask transaction window will open, click on Sign for both the Signature request and Fee request
Make sure you have $ACRE available on your Acrechain, you can do this by buying $ACRE on Osmosis. Make sure that the $ACRE is on the Osmosis chain then deposit it to Acrechain by clicking on Deposit on Arable Protocol
Once the transaction is completed you will now see that the $OSMO balance is under ERC20 Balance. And that’s it you have now successfully deposited an asset from Osmo Chain to Acrechain.
Let’s now move on to Minting/Borrowing arUSD!
II. Minting/borrowing arUSD using OSMO/ATOM
- Go to https://app.arable.finance/#/app/synth
- Move to Deposit and choose the asset you want to provide as collateral, for this example we’ll be using $OSMO.
3. Choose the desired amount of the asset you would want to deposit as collateral.
4. Click on Approve Collateral, a Metamask permission request will pop up, click on Confirm
5. Once approved the Deposit button will be available. Click on Deposit
6. A fee confirmation on Metamask will appear, click on Confirm. Make sure that you have available $ACRE on Acrechain for the fees.
7. Once successful, you will now see the balance you deposited on the collateral balance
Also, you will now see how much your Collateral Value and Maximum Debt are.
8. Now that you have Collateral Value, let’s now move to borrowing/minting. Click on Borrow/Mint. the Maximum Debt will now be registered on the Remaining which means the available $arUSD value that you can borrow/mint
9. Input the desired amount of $arUSD you want to borrow then click on MINT. A Metamask window will appear for the fees, click on Confirm
10. Once successful, you will now see that your Current Debt will be amounting to how much you minted
11. Go to https://app.arable.finance/#/app/assets. You will now have your available Arable USD $arUSD ready for use on OSMOSIS!
That’s how you Mint/Borrow arUSD, let’s now move on how to transfer your $arUSD from Acrechain to Osmosis and provide liquidity to the available pools we have for $arUSD.
III. From Acrechain to Osmosis
Moving $arUSD from ERC20 to Osmosis
- Go back to https://app.arable.finance/#/ibc
- Now we will be converting $arUSD from Acrechain ERC20 to Osmosis Chain IBC
You will be able to view the Arable USD $arUSD you minted. Now click on Convert and make sure that you are on ERC-20
3. Input the desired amount of $arUSD you want to convert and click on Convert To IBC
Approve the Signature Request from Metamask by clicking on Sign
You will now see your available $arUSD under the IBC Balance.
4. Now click on Withdraw, and click on GET ADDRESS for Osmosis. Input your desired amount of $arUSD to be transferred and click on Withdraw
Approve the Signature Request from Metamask by clicking on Sign
5. Once successful, go to https://frontier.osmosis.zone/assets. You will now see your transferred $arUSD on the list of assets you have on Osmosis DEX
III. Providing Liquidity on Osmosis using $arUSD
- Go to https://frontier.osmosis.zone/pool/895
- Click on Add Liquidity
Input the desired amount of liquidity you want to provide. Make sure that the 3 tokens $DAI $USDC and $arUSD are enough for pairing.
You can swap for $DAI and $USDC by clicking on the Trade Pair button
Stay tuned for the $arUSD liquidity mining event on Osmosis!
For those wishing to benefit from the opportunities provided by decentralized finance and derivatives, the Arable Protocol is a potent tool. Users can access a variety of collateral choices and receive rewards for supplying liquidity to the arUSD pool on Osmosis by utilizing the protocol’s power. Anyone having a Keplr or Metamask wallet can add liquidity for arUSD through a simple and clear approach. The Arable Protocol is a great option for maximizing your prospects in the expanding field of derivatives and decentralized finance, regardless of your level of DeFi experience.
