A User Guideline to Starvaults on Flow Blockchain

Starvaults is here to provide more liquidity to the NFT market on Flow. To try out our app, please go to Starvaults — collections. Below are some basic user guidelines for beginners.

1. Connect Wallet

Like all Web3 applications, users will first need to connect a wallet to use services on Starvaults. In this case, you can click the button “connect wallet” on your upper right-hand side and choose either Lilico or Blocto wallet. We currently do not support Nufi and will do in the future.

1.1) Blocto

If you are new to Web3 or consider yourself a Blocto fan, you can register/sign in with your email.

1.2) Lilico

If you are quite familiar with Web3 wallets, like Metamask, you can go ahead and log in/register with your Lilico wallet. Just remember to keep your private key safe. Once you have successfully login into your Lilico wallet, you will see the page below and need to “confirm” to process the page.

1.3) Nufi

This wallet will be enabled soon.

2. Info

Users can explore collections created in Starvaults. Taking the screenshot below as an example, you could click “View Vault” and then “Enable NFT Collection” to view what NFTs are on offer in this collection. Next, you will see the wallet asks you to confirm your transaction, which is part of the standard procedure.

Having completed all these processes, you can view all the available NFTs in this collection along with the possibilities to buy, sell, mint, swap, and stake. Before you start trading, we suggest you check all the fees in this vault. For example, the current fees associated with the Flovatar vault are shown below. All these fees are collected and distributed to help us incentivize creators, LP staker, and run the platform.

3. Mint

Since one of our key functions is to enable NFT holders to “mint” their NFT and receive fungible tokens in return, let’s talk about this feature. First, you can choose multiple NFTs in your wallet to receive fungible tokens and pay transaction fees in Flow. We designed it this way because we believe it would provide great convenience and enjoyable trading experiences to all our users, including the ones, who are new to our app and do not have any vault tokens.

After you click “mint” and confirm your transaction, you will see two pop-up notifications in total on the upper right-hand side of the webpage. The first one tells you that your transaction has been submitted, and the other one shows you that you have successfully minted your NFT(s) and received your fungible token(s).

4. Buy

Now, you may be eager to check out some NFTs in the collection and maybe even purchase one. To provide convenience to our users, we actually allow two payment methods:

4.1) Flow only

Total payment = transaction fees paid in Flow + NFT prices in Flow

and

4.2) Flow and fungible token(s)

Total payment = transaction fees paid in Flow + NFT prices in fungible tokens

4.1) Flow only

This is a great choice for users who prefer to keep all their assets in Flow or even those who want to be an LP and stake in the future.

4.2) Flow and fungible token(s)

Users can click the fungible token icon under the “currency” section, highlighted in the screenshot below to purchase their desired NFT(s) through vault token.

What’s more, Starvaults also enables users to purchase multiple NFTs at once to save gas fees. Again, once your transaction has been submitted, you will see the pop-up notification “Transaction submitted” and “Bought”. Remember, only when you see the “bought” notification, have you successfully bought the desired NFT(s).

5. Sell

To sell your NFT(s), you need to switch to the “sell” module and select the desired ones to sell. Then, the process will be similar to “buy”, meaning that you can:

1. select the currency that you prefer to pay
2. Sell multiple items at a time to reduce fees
3. Once the transaction is submitted, you will see pop-up notifications “Transaction submitted” and “Sold”. Make sure you wait for the second notifications to be sure that you have successfully sold your NFT(s).

5. Swap

If you want to trade one of your NFTs with the one in our collection, then swap is an ideal choice for you. In this scenario, you only need to pay the transaction fee in Flow. Once you are on the “swap” module, make sure you choose the right assets before confirming your deal.

7. Stake

Once you have some fungible tokens and are eager to become a liquidity provider, staking might match your interest. On the stake module, you will see the interface below. Here is the procedure:

7.1) Get LP first

7.2) Then, Stake

7.3) Lastly, Claim Rewards

7.1) Get LP

Once you click “Get LP”, you will need to first create a pair of “Flow- Vault token” on the webpage shown below. Type the right amount of Flow into the text box, and make sure either number in the type box does not exceed your Flow and vault token balances. Then, you shall move on by checking “Review Liquidity”. For example, you can create a pair of 15 flow with 0.5 vault tokens for Flovatar Vault. Once you have confirmed the numbers, you may “Sign”. After seeing “Transaction Submitted” and “Added liquidity”, you now have successfully gotten your LP.

7.2) Stake

After getting LP successfully, you have to manually switch to the “Farm” page and select the vault you want to stake. Then, you can type a specific amount or click “max” for staking before confirming your transaction. Again, wait until you see “Staked” shows up in the upper right corner.

7.3) Claim Rewards

Congratulations on successfully staking and completing all the previous steps, and it is time to claim your rewards! Under a vault section, you will see the amount of Flow you can claim under the section “My earned” and claim it at any time. If you see “My Earned” is zero at the beginning, do not panic and your reward is on the way. FYI, every time you claim your rewards you will pay for the gas fees, so some users prefer to wait a bit longer before doing it.

8. Unstake

If you decided to unstake and stop receiving rewards, you may want to follow the steps in the screenshot below (unstake — max — unstake) and wait until you see the notification “Unstaked” appears to close the page.

9. Check out more about Starvaults

To know more about Starvaults, please follow us on Twitter and Discord. You are also welcome to check out our docs! We hope you enjoy using Starvaults and looking forward to hearing about your experience on Discord soon!