Brrr Printing your dollars
Intro
Previously, we bought $500 of Wrapped Bitcoin and $500 of Ether following this guide.
Now we proceed to lock ether and bitcoin in vaults in order to print $DAI stable coins.
Main steps in this guide:
- Oasis: lock bitcoin
- Oasis: print dollars Brrrr
- Oasis:lock ether
- Oasis: print dollars Brrrr
Oasis: lock bitcoin, then print $DAI
go to oasis.app
Click on Borrow Dai
Connect a wallet → MetaMask
- Connect Metamask Wallet with oasis.app
- Click on “+”
- Select WBTC-A, then continue
Note:we are going to select WBTC-A vault as we are going to lock Wrapped Bitcoin into a vault and print DAI. As per today, we’ll pay 1% Annual Interest Rate for the DAI that we print
- Click Setup
- Confirm Transaction
- Now click on “Set”
- Confirm Transaction
- Continue through the wizard:
- we specify 0.05271708 WBTC to be locked in a vault, this is all our wrapped bitcoin.
- We specify to print 200 DAI
- The liquidation price will be $5690.75
- Click “Continue”
Note: If the BTCUSD price goes below 5690.75 our vault will automatically start a liquidation process. In the liquidation process, our collateral (wrapped bitcoin) will be sold in the market to pay the debt we owe and the system will punish us by 13% for not properly managing our risk.
- Accept terms of service
- Click “Open Vault”
- Confirm Transaction
- Transaction confirmed
- Vault is created
- Click “Exit”
Our Vault is created:
- We have 0.0527 WBTC locked in a vault
- we have printed 200$ worth of DAI (200 DAI, stable coin)
Oasis: lock ether, then print $DAI
We repeat the process for ETH
- Click the “+” icon
- We select “ETH-A”
- Click “Continue”
- We lock 2 ETH
- we print 200 DAI
- The liquidation price will be $150
- Click “Continue”
- Our Eth Vault has been created
- We have printed 200$ worth of DAI
Next Guide: Increase your exposure in Ether and Bitcoin
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