Preparing for Mainnet Launch
Following extensive testing by a large number of users and smart contract audit successfully completed by PeckShield & Verilog, the Fountain Protocol proceeds to launch Mainnet on Oasis in the coming days.
In preparation for launch, we outline the necessary steps for users to participate in the protocol and to obtain the FTP token.
Preparing assets for the Fountain Protocol
Step 1. Connecting MetaMask to Oasis Emerald Mainnet
-Setting Up MetaMask
MetaMask is one of the most commonly used wallets in DeFi. It can be downloaded on Chrome and Firefox, or on iOS and Android if you’re a mobile user. Read this tutorial to learn how to Install and set up MetaMask.
-Connect to Oasis Emerald
After setting up MetaMask, click on the menu on the upper right and select the Settings button. In the Settings section, select the Networks button. Then click on the Add Network button to set the new network.
Network Name: Emerald Mainnet
RPC URL: https://emerald.oasis.dev
Chain ID: 42262
Symbol: ROSE
You are now on Emerald Mainnet Network!
Step 2. Transferring ROSE/ ETH/ERC20 into Emerald ParaTime
-How to Transfer ROSE into Emerald ParaTime
Step 1. Install the Oasis Wallet Browser extension, restore your existing or create a new Oasis wallet. Read this tutorial to learn how to Install and set up Oasis Wallet.
Step 2. Once done, you can deposit your ROSE to Emerald ParaTime. Navigate to the “ParaTimes” tab and click the “Receive” button. Then scan the QR code or copy the wallet address to deposit your ROSE to Emerald ParaTime.
Step 3. You can now transfer your ROSE to MetaMask. Navigate to the “ParaTimes” tab. Notice two ParaTimes: Emerald and Cipher with the corresponding ParaTime IDs. Under Emerald click on the “To ParaTime” button.
Step 4. Fill in the “Amount” of ROSE that you want to transfer and your MetaMask address in the “To” field you imported/created before. Then, click “Next”, confirm the transaction.
Step 5. Now you can verify your balance in MetaMask.
You can also follow here to view How to Transfer ROSE into Emerald ParaTime.
-How to Transfer ETH/ERC20 into Emerald ParaTime
You can bring your assets, i.e., ETH, USDC, USDT, from Ethereum, BSC, Polygon or Avalanche to Emerald ParaTime using the Wormhole token bridge. Get your assets ready in your MetaMask to be transferred over to Oasis.
Step 1. Visit Wormhole Bridge Transfer application at https://portalbridge.com/#/transfer.
Step 2. [1] Source is to point Source to the network from where you want to transfer your tokens to Ethereum and set the Target to Oasis. Then click Connect to connect your wallet with the Wormhole Bridge.
Step 3. Select an asset from all available assets in your wallet, e.g. ETH, to be transferred to Oasis.
Step 4. Enter the Amount of tokens you want to transfer and click Next. Then confirm in MetaMask wallet.
Step 5. You will then proceed to [2] Target. Confirm the recipient address and the amount of WETH tokens to be transferred and click Next.
Step 6. Now you have to [3] Send Tokens to the Wormhole Bridge. Click Transfer.
Step 7. Confirm the Transfer of ETH from Ethereum to wETH on Oasis Emerald by clicking Confirm.
Step 8. Now you are ready to redeem your tokens on the Oasis Emerald. Confirm the wallet approval in your MetaMask.
Step 9. You just bridged your first ETH to wETH on Oasis Emerald.
Guide to Supply and Borrow assets on Fountain Protocol
-Supplying Asset Markets
The various Fountain Protocol markets are accessed through the website’s homepage. By depositing cryptocurrencies in the platform, users earn a variable interest rate on their deposits determined by the interaction of supply, demand, and smart contract-set interest rate models. To supply a token to the platform, all a user need do is:
Step 1. Click on the MARKETS tab on the menu and click on SUPPLY
Step 2. Select the type of asset from the drop box menu in the SUPPLY dashboard.
Step 3. Enter the amount of the token to be supplied or press Max to deposit the wallet’s entire balance of that token
Step 4. Press the Supply button to initiate to transaction and deposit the tokens
Once the transaction is confirmed, the deposit is successfully registered, and it starts earning interest.
Note: The first deposit of an asset will require an approval transaction
-Borrowing Asset Markets
When Borrowing tokens on Fountain Protocol, the user is required to deposit an accepted asset to be used as collateral. Ensure that the “Use as Collateral” tab is enabled in the “Supply” section as shown in the image below:
Step 1. Click on the MARKETS tab on the menu and click on “Borrow”
Step 2. Select the type of asset from the drop box menu in the “Borrow” dashboard
Step 3. Enter the amount of the token to be borrowed or press 80% Limit
Step 4. Once the transaction is confirmed, the borrow is successful and it starts accruing payable interest
The maximum amount that can be borrowed depends on the value deposited and the available liquidity. The user cannot borrow an asset if there is not enough liquidity or if their Health doesn’t permit them to.
Join the ever-growing Fountain community
If you have questions, need support, or want to connect, join our community, and keep up to date with our up-and-coming announcements. Join our community and drop us a comment!
Website: https://ftp.cash/
Twitter: https://twitter.com/fountainprot
Discord: https://discord.gg/tTxBspHqep
Telegram: https://t.me/fountainproto
Medium: https://medium.com/@fountainprot
About Fountain Protocol
Fountain Protocol is the first cross-chain lending platform powered by Oasis. The protocol enables users to experience high capital efficiency and one-stop management of DeFi assets. Taking advantage of the extremely efficient and low-cost Oasis Network, Fountain Protocol establishes a multi-revenue protocol with a fund pool as the core and multiple application scenarios.
