📣NAMA v2 beta testing Phase 2 — Auction model lending & borrowing tutorial
1. Connect your Metamask wallet
Visit https://testnet.nama.finance, and click the button ‘Sign in with Metamask’ if you’re not signed in yet.
2. Test Lend Feature
Once connected to your wallet, if you navigate to ‘Lend’, you will see 2 loans available, choose one of them to see details.
Note if you don’t have test tokens, you can visit here to get free tokens for testing: https://faucet.paradigm.xyz/
a. Make an offer
Select one of the loans above, and see the details. Check the loan details, e.g. amount, interest, duration; then click the button ‘Make offer’
b. Approve the loan
Then choose the amount, and click ‘Approve’.
c. Confirm the transaction
Finally, confirm within Metamask
3. Test Borrow Feature
a. Pick one NFT to borrow
Note if you don’t have test NFTs, you can visit here to get free NFTs.
https://faucet.paradigm.xyz/
Then navigate to the Borrow page in the top menu.
Pick one NFT, and click ‘Start application’ from the top right.
b. Authorize
Then approve the NFT on the new page by clicking the ‘Approve’ button from the bottom right.
c. Loan terms
Choose your loan terms with the Auction Loan Type, and click next.
d. Confirm details
Confirm details, and click the ‘Create’ button.
4. Test cancel feature
If you’re a borrower you can click the Cancel the loan button to cancel the borrowing.
5. Test Withdraw Fund feature
If your borrowing gets funded, you can withdraw the fund to your wallet by just clicking the Withdraw Fund button on the loan details page just like the one on Cancel the loan.
6. Test Repay the loan
If you’ve withdrawn the fund from the loan, then you have to repay the loan within the duration time that starts the time you have withdrawn. The button is also the same as the Cancel the loan but with Repay the loan.
🌈 You have completed the Phase 2 (Auction) testing
Congratulations, you have tested the lend & borrow features of the Auction type loan. Please give us your valuable feedback. Any bugs and/or improvement suggestions are much appreciated.
About NAMA Finance
NAMA Finance is a decentralized cross-chain lending protocol that empowers borrowers to use NFTs as collateral to get loans across chains, while the lenders can earn attractive interest and rewards when making loans.
