ALEX Testnet Tutorial
Testnet Phase 1 - User Instructions
Step 1: Faucet
To access faucet you’ll need two things:
- ALEX Testnet Wallet Address
- A valid invitation code
To set up ALEX Testnet Wallet Address you’ll need to:
- Set up your Hiro wallet using the Chrome extension only. See our tutorial https://medium.com/alexgobtc/how-do-i-use-hiro-wallet-and-access-alex-testnet-13d1046b01b. You must use the Chrome extension to participate. Please DO NOT use the Desktop wallet.
You also need a valid invitation code to access faucet and receive the test tokens. If your invitation code is invalid or expired, please contact us: contact@alexgo.io
Step 2: Connect Wallet — Check Your Balance
You’ll see Borrow/Deposit page as it appears below. You can see your wallet address and balance shown on the top menu.
Step 3: Deposit Function
- Press Deposit button on the Borrow/Deposit page
2. You’ll enter the Deposit WBTC page. Choose your a) deposit amount (or press MAX button to deposit all WBTC from wallet) and b) maturity date with corresponding APY
3. After choosing your deposit amount and maturity date and APY, the estimated interest at maturity and estimated transaction cost will be shown
4. Press the Continue button, a confirmation window will pop up with the transaction details.
5. Press the Confirm button. The system will indicate whether the transaction is still processing, succeeded or failed.
6. After confirming the transaction, whether or not its successful, the operation page will return to the Borrow/Deposit page with the transaction details.
7. From the transaction details screen, yield-Token will be displayed with information such as Balance and Maturity date. (APY, Average Bought Price and PnL will be available soon…)
8. Upon maturity, click Withdraw button to swap yield-Token back to Token
The deposit process has been completed.
Step 4: Borrow Function
- Press Borrow button on the Borrow/Deposit page
2. You’ll enter the Borrow WBTC page. Choose your:
- a) collateral assets (only USDA for now, more to come…)
- b) borrow amount (or press MAX button to borrow max amount of WBTC given your current balance of USDA in the wallet)
- c) maturity date with APY indicated
3. After choosing a), b) and c) above, the estimated LTV, collateral required, interest at maturity date and estimated transaction cost will be shown
4. Press the Borrow button, a confirmation window will pop up with transaction details.
5. Press the Confirm button. The system will provide instructions on whether the transaction is still processing, succeeded or failed.
6. After confirming the transaction, whether or not its successful, the operation page will return to the Borrow/Deposit page with transaction details.
7. The transaction details screen will display key-Token information such as: Borrowed Amount, Collateral Positions, Locked Excess Value and Maturity date.
8. Upon maturity, click Release button to release key-Token and receive back the remaining value of collateral (here automatically deducted from the loan amount)
The borrowing process has been completed.
Step 5: Spot trading
1.On the Spot page, simply choose swap from one token to another (only WBTC /USDA pair for now, more to come…)
2. After choosing two tokens to swap, the current exchange rate and the estimated transaction cost will be displayed.
3. Click the Swap button and the confirmation window will pop up with the transaction details.
4. Press the Confirm button. The system provide instructions on when the transaction is still processing, succeeded or failed.
5. After confirming the transaction, whether or not its successful, the operation page will return to the Spot home page.
6. You can check your wallet about your balance
The spot swap process has been completed.
Step 6: Margin Trading
- On the Margin page, choose:
- a) trading pair (Only WBTC/USDA for now, more to come…)
- b) your position (long or short)
- c) trading amount (or press MAX button to obtain max trading notional under current LTV ratio)
- d) maturity date
2. Press the Open BTC Long/Short Position button, a confirmation window will pop up with the transaction details.
3. Press the Confirm button. The system will give instructions whether the transaction is still processing, succeeded or failed.
4. After confirming the transaction, whether or not its successful, the operation page will return to the Margin homepage with the transaction details.
5. From the transaction details screen, information such as WBTC/USDA, long or short, Collateral Positions, Position Value, Leverage and Maturity date will be displayed.
6. Upon maturity, click the Claim button to release key-Token to take back the remaining P&L.
The margin trading process is completed.
