How To Mint vUSD On The Vine Money Testnet

3 min readJan 29, 2024

Introducing The Vine Money Public Testnet

The Vine Money Public Testnet is now live! You can have a play around with it here.

The testnet gives you the opportunity to try out the process of minting vUSD. vUSD is DeFi’s first privacy-focused stablecoin. Read more about it here.

This article provides instructions on how to use the Testnet. Note that the vUSD you mint in the testnet is for test purposes only and has no value. Once the mainnet goes live, the value of the token will be pegged to USD and will be usable in a range of DeFi applications as integrations come online.

So, let’s dive in…

Video & Text Tutorial

You can refer to the above video, which goes through each step of the minting process when reading through the text instructions below:

Here’s how you can try minting vUSD on the Vine Money Testnet.

STEP 1: Connect Wallet & Get Test Tokens

Load up the Vine Money testnet at https://test.vinemoney.xyz/.
Click “Connect Wallet” in top-right-hand corner.
Approve to switch to Oasis Sapphire Testnet if requested and sign/approve any pop-up requests in your wallet.
Once wallet is connected, click “Faucet” button that appears in top-right hand corner to claim test tokens.
This will take you to the Oasis Network faucet. Select “Sapphire” from dropdown menu, input your wallet address and click “Request Test Tokens”.
Test tokens will appear in your wallet after a short period of time.
You may need to request Test Tokens twice to get a sufficient balance to effectively use the Vine Money Testnet.

STEP 2: Deposit Collateral

Once you have your test tokens, you can deposit tokens into the vault, which can then be used to mint vUSD.

To make a deposit:

Navigate the “Vault” section of the dApp (this will be default screen when you load app).
Enter the amount of ROSE you wish to deposit, and press “Deposit”.
Press “Continue” when pop-up screen comes up and approve any requests in your wallet.

STEP 3: Mint vUSD

Once you have deposited collateral, you can then mint vUSD. To do this:

Navigate to the “Mint vUSD” section of the dApp.
Enter the amount you wish to mint and select your Collateral Ratio.
Press “Mint”
Confirm in your wallet
After sufficient confirmations have been received, your vUSD will be minted.
NOTE: the vUSD you mint in the testnet is for test purposes only and has no value. Once the mainnet goes live, the value of the token will be pegged to USD and will be usable in a range of DeFi applications as integrations come online.

STEP 4: Repay vUSD

To receive your collateral back, first you must repay your vUSD debt. To do this:

Navigate back to the “Vault” section of the dApp.
You vUSD balance should now be visible here.
To repay your vUSD debt, navigate the the “Repay” tab within the “Vault” section.
Enter the amount you wish to repay, press “Repay” and confirm in your wallet.

STEP 5: Withdraw Your Collateral

Once you have repaid (a portion of) your vUSD debt, your ROSE collateral will be available to you again. To withdraw it:

Stay in the “Vault” section of the dApp and switch from the “Repay” tab to the “Collateral” tab.
Select the amount of ROSE you wish to withdraw, click “Withdraw” and confirm in your wallet.

Currently the Deposit, Mint, Repay and Withdraw functions are the ones available for testing on the Testnet. Earn, Reward, Lock & Redeem dashboards can be viewed but are not usable in the testnet.

Welcome To The Vine Money Community

We hope you enjoy trying out the Vine Money Testnet. We’re working hard to develop the mainnet with a view to launching in late February, subject to completing audits. In the meantime, you can read more about the project and keep in touch with us here:

Website: https://vinemoney.xyz/

Docs: https://vine-money.gitbook.io/

X / Twitter: @Vine_Money

Telegram Community: https://t.me/vinemoneyofficial

Telegram Announcements Channel: https://t.me/vinemoneyofficial