Secured Finance User Guide

Preparing Test Tokens for Practice

Test-Pilot Trading

Secured Finance Official
Published in
6 min readMar 31, 2023

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Before using the Secured Finance app, make sure you:

We offer our testnet faucet to help you experiment with the Secured Finance protocol. This faucet is a smart contract on the Ethereum Sepolia network for testing purposes, providing you with test versions of wrapped Bitcoin, wrapped Filecoin, and USDC.

If you go to the faucet page for the first time, it may require you to connect with MetaMask first.

Make sure your wallet address is connected to the app. The faucet is part of the web app and only available for the Sepolia test net.

Now your account has test ETH to mint test tokens.

You can select a test token from the toggle. Let’s select USDC and click ‘Mint tokens’.

The faucet contract begins minting new test USDC tokens. Note that the gas price may be too high while the Network is busy. We observe it tends to be low during Asian business hours.

Once minted, you can see the USDC, you received, in your wallet.

Let’s try to see if the USDC appears in your MetaMask wallet. You should see the reduced Sepolia ETH and Minting activity.

In the ‘Assets’ tab, you won’t see the USDC, as it’s a test token. You need to import the token information yourself, so let’s do that!

We need the USDC’s contract address. You can click the small icon 📑 on the right next to the USDC‘s contract address.

Go back to MetaMask’s ‘Assets’ tab and click ‘Import tokens’

The custom token configuration appears. Paste the USDC’s contract address.

If the address is correct, the default token symbol will be shown. To avoid confusion, you can click ‘Edit’ to change the symbol name.

I just changed mine. This is only visible to you via your MetaMask wallet. It doesn’t affect the web app’s behaviour. Click ‘Add custom token’.

Now you see your MetaMask wallet recognizes the custom USDC token and your wallet reflects the correct amount received from the faucet. Click ‘Import tokens’

Successfully imported and you can see the amount in the ‘Assets’ tab.

You can see it is also recognized on the web app as USDC.

Let’s mint test-wrapped Filecoin. The process is the same as for USDC.

You have now received test-wrapped Filecoin.

Let’s import this in the MetaMask wallet. Copy the wrapped Filecoin contract from 📑 icon.

You can change the contract’s default symbol name to one based on your preference.

I just named mine, using my preferred convention.

Wrapped Filecoin is recognized in the MetaMask wallet.

Lastly, let’s mint test-wrapped Bitcoin using the same process.

Here’s the situation where each token is minted once. You can mint these tokens once per day, so don’t worry about losing these test tokens, and feel free to play around on the test version.

Note that these days Sepolia ETH gas price tends to be high and you may quickly run out of the ETH, so we recommend avoiding high gas-price hours or using faucets to maintain Sepolia ETH.

Step-by-Step Guide Series

DeFi Apps Onboarding Guide

This guide will walk you through the steps you need to take to start using DeFi apps. You’ll learn how to set up your MetaMask wallet, connect it to DeFi apps, and get test ETH from Sepolia faucets.

  1. Setting up MetaMask Wallet
  2. Connecting Your Wallet
  3. Getting Test ETH from Sepolia Faucets

Secured Finance User Guide

This guide offers a concise walkthrough of the platform, covering key aspects from preparing test tokens and managing collateral to executing transactions. It also delves into advanced trading strategies that are unique to Secured Finance.

  1. Preparing Test Tokens for Practice (This Article)
  2. Collateral Management
  3. Borrowing with Simple UI
  4. Lending with Simple UI
  5. Trading at Pre-Open Order Book (Itayose)
  6. Placing Limit Order
  7. Add/Reduce or Unwind Position

Secured Finance Official Links
Website | Twitter | GitHub | Galxe | Link3 | Guild

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