How to set up Kolibri with AirGap
Kolibri is a Tezos based DeFi platform which was launched in early 2021. This short article will help you get started on Kolibri with AirGap.
Kolibri works as a system of smart contracts that issue kUSD, a trustless algorithmic stable coin which is pegged to the USD and collateralized with tez. On Kolibri, you can carry out four major functions namely; Deposit, Withdraw, Borrow, Repay.
AirGap, the perfect wallet to use with Kolibri
To get started, of course, you need a secure wallet. The AirGap solution offers high security; it is based on two apps. AirGap Vault (handles the private key), and the AirGap Wallet (is the companion app and holds public information).
Both apps can be installed on the same device but for maximal security we recommend you to go with the two device approach, in which the Vault get’s installed on a dedicated offline mobile device. Communication between the devices / Apps happens cordless through QR-codes thus the name AirGap. It is the number one go-to wallet in the Tezos ecosystem for the following reasons:
- Non-custodial wallet
- Secure secret creation
- Offline transaction signing
- Offline secret storage
- Multiple platforms
To get started with AirGap follow the setup guide. Or watch the setup video;
Step-by-step — Kolibri setup with AirGap
You can use Kolibri on Desktop in combination with AirGap on your Android or iOS devices or you could do everything on the mobile device. This article explains both cases. We recommend you use either Chrome/Brave for the setup; however other browsers may be compatible.
What you need:
Kolibri on desktop
- Visit https://kolibri.finance/
- Click on the Connect Wallet button at the topmost right.
- Select AirGap Wallet
- Scan the QR code with your AirGap Wallet
- Once the QR code is scanned, select the account you want to connect and grant permission.
- Click the Connect button
Kolibri on a mobile phone
- Visit https://kolibri.finance/
- Click on the menu icon at the top-most right
- Click on the Connect Wallet button
- On the next page, click the blue Connect Wallet button
- You will be redirected to your AirGap Wallet
- Grant permission by clicking on the Connect button below.
Once you are done connecting your wallet, you will be needing some tez to start exploring Kolibri. You can get tez from third party inbuilt exchanges on AirGap wallet (ChangeNOW) or from Binance.
Now you’re set to start exploring Kolibri and creating ovens.
- Click on the Create New Oven button.
- Choose a Baker to delegate your tez.
- In this article, we used “AirGap” as our Baker. (tz1MJx9vhaNRSimcuXPK2rW4fLccQnDAnVKJ).
- Click the Create Oven button at the bottom right.
- Confirm the transaction in your AirGap Wallet.
Once the transaction is completed, wait a moment for Kolibri to load up your newly created Oven where you find information like; Delegated Baker address, Collateral Utilisation, Collateral Value, Balance, Loan AMT and Stability Fee.
- To deposit tez click on the Deposit tz button.
- You can perform other transactions like Borrow kUSD, Pay Back kUSD and Withdraw tz using their respective buttons.
AirGap is the best go-to wallet not just for Kolibri, but for every DeFi platform you can find in the Tezos ecosystem. This is attributed to the fact that it’s flexible compared to other hardware wallet options and very easy to use with its amazing user interface and simplified functionalities. Also it takes just 5mins to set up the Vault and that’s it, your funds are fully secured.
Now you can play around with your ovens on Kolibri while securely executing transactions offline with the AirGap Wallet/Vault app.