A Step by Step Guide on Using Cyano Wallet to Mine WING by Borrowing, Crediting, or Insuring in Flash Pool
This guide is designed for users who have a Cyano Wallet or MetaMask Wallet, and wish to mine WING tokens in the Flash Pool in order to borrow, lend or insure. Note: Both wallets are web extension wallets.
Part 1: Using your Cyano Wallet to Log into WING to Swap Assets in Order to Deposit.
Open Wing’s website, and click on “Asset Swap” in the top right-hand corner to begin the process.
The Website will automatically detect your Cyano Wallet and Metmask Wallet. Once it does, you will be asked to input your password in order to log in to your wallet. If both wallets are successfully connected, you should see the image above. For the purposes of this guide, we used WBTC as an example.
Input the amount of WBTC you wish to swap in the “Amount” field. Below that is a pWBTC indicator that will show you how much you will receive in the swap. Click “Swap” to proceed.
A pop-up window will ask for your confirmation of the desired deposit amount and display the fee required. Click “Confirm Swap” to proceed.
On the MetaMask page, you then click “Confirm” to proceed with the swap. It is important that you do not refresh or close the window during this process to prevent possible data loss during the swap.
Once the swap is finished, close the pop-up window. You can confirm your pWBTC balance in your Cyano wallet. By default, Cyano v0.8.8 supports tokens compatible with the Flash Pool. If for some reason you do not see a Flash Pool token under “OEP-4 Tokens,” try updating your Cyano wallet to make sure it’s the most recent version. Otherwise, you can check the token’s contract Hash at https://explorer.ont.io/token/list/oep4/10/1 and manually add it to your Cyano wallet.
Part 2: Adding OEP-4 Tokens to your Cyano Wallet
In the token list, choose the token you wish to add to your Cyano wallet. For the purpose of this guide, we are using the WING token.
Once you click into the detail page of your token, you need to “copy” the Hash address as we have done with the WING token.
After that, open your Cyano Wallet and choose “Settings” on the upper right corner, then click “OEP-4 TOKENS.” Once the page is loaded, simply click “+ADD” and paste the Token Hash in the input field.
Copy the Token Hash to the input field and click “CONFIRM” in the lower left-hand corner before you return to the main page in Cyano. You should see your new token under the OEP-4 Tokens list, in addition to the balance as shown for the WING token in our example.
Part 3: Depositing pToken to the Supply Pool
Click “Pools” on the upper part of Wing website to enter the Flash Pool page. Select the Supply area in the pWBTC line.
Next, input the amount of pWBTC in the pop-up window, and click “SUPPLY”
Confirm again within the Cyano pop-up which will require you to input your password. The final step involves one more “CONFIRM” in the pop-up.
Once the process is completed, you can find the amount of pWBTC under “Current Supply”. You can also find the amount of “WING” you earned for depositing the above amount of pWBTC under “WING Earned”.
Part 4: How to Open / Close the Collateral Switch
If you want to borrow certain assets from Flash Pool, the first step is to secure a certain amount of applicable assets. For the purpose of this guide, we are securing pWBTC to borrow ONTd as an example.
To start the process, simply toggle the switch under “Collateral” in the pWBTC line.
Next, click “Enable pWBTC As Collateral” in the pop-up window in order to confirm the action, which will then require you to input your password in Cyano. Once again, click “CONFIRM” to proceed.
As shown in the picture above, pWBTC can now be used as collateral, and the 10 pWBTC we deposited just now can be used as collateral to borrow other assets.
If you want to turn off the “Collateral” switch, just re-toggle the switch under “Collateral” again.
Part 5: Borrowing pToken
Select the “Borrow” area in the ONTd line.
Input the amount of ONTd you want to borrow, and click “BORROW” to proceed. Next, confirm the process and input your password in your Cyano Wallet. Then click “CONFIRM” once again to proceed.
Now the process is completed, and you can find the amount of ONTd under “Currently Borrowed”. You can also find the amount of “WING” you earned for borrowing ONTd under “WING Earned”.
Part 6: Withdrawing WING
Click the WING icon in the top right corner to see the amount of tokens available for withdrawal. To start the process, simply click “Withdraw.”
Next, confirm the withdrawal within Cyano. Once completed, the withdrawn amount will show up in your current Cyano wallet.
Part 7: Returning the pToken you Borrowed
Returning the pToken you borrowed requires you to return the principal you borrowed in addition to the interest. Before starting the returning process, first check your wallet balance to make sure you have enough pToken to pay the principal and interest.
Click any area in the ONTd line under “Currently Borrowed”.
Select “REPAY” in the upper right-hand corner to open a pop-up window. Input the amount of ONTd for return and click “REPAY”. Another option is to click “MAX” on the right of the input field to have the principal and interest automatically displayed, and click “REPAY”.
Click confirm to open the Cyano pop-up, and input your password before clicking “CONFIRM” again.
Once completed, you can find ONTd shown under “All Markets”\
Part 8: Withdrawing pToken from Supply Pool
You can withdraw your pToken principal and interest from the Supply Pool within one withdrawal.
To start, click the pWBTC under “Current Supply”.
Next, select “WITHDRAW” in the upper right-hand corner to open a pop-up window. Input the amount of pToken desired for withdrawal and click “WITHDRAW.” Or you can click “MAX” on the right of the input field to have the principal and interest automatically displayed before you click “WITHDRAW”.
Click ”CONFIRM” to open the Cyano pop-up, and input your password before confirming again. Once completed, the total pWBTC will be displayed in your Cyano wallet.
Part 9: Putting pToken in the Insurance Pool
Apart from using your pToken in borrowing and crediting, you can also put your pToken in the Insurance Pool to earn WING. It should be noted that in the case of a severe breach committed by a borrower or creditor, the Insurance Pool will pay part of the loss to the Supply Pool, resulting in a certain loss of your assets from the Insurance Pool. You also need to understand that each pToken deposit in the Insurance Pool will be locked for 3 days, after which it will be available for withdrawal. Please ensure you understand the risks involved prior to depositing your pToken in the Insurance Pool. For the purposes of this guide, we used pWBTC as an example.
To start, click the Insurance area in the pWBTC line.
Next, input the amount of pWBTC desired for insurance in the pop-up and click “INSURE”. Click confirm to open the Cyano pop-up, and input your password before confirming again.
Once completed, the total pWBTC you insured will be displayed under “Currently Insured”. You can also find the amount of “WING” you earned for insuring the above amount of pWBTC under “WING Earned”.
Part 10: Liquidating Assets
By joining the Insurance Pool, you are granted a privilege. You may now liquidate some of the collaterals of a breached user at a preferential price.
Click “Liquidation” in the upper right-hand corner of the asset list.
Select any account address whose Borrow Limit exceeds 100%. The information under “Debt to Cover” indicates the type and amount of tokens the breached user needs to liquidate. The two columns on the right show the type and value of collaterals eligible for liquidation.
Input the amount of debt you wish to pay for the breached user, and the number of collateral you’ll receive for this liquidation will be shown next to it. Click “Liquidate” to proceed.
Click confirm to open the Cyano pop-up, and input your password before confirming again. Once completed, the collateral you acquired from liquidation will be displayed under “Current Supply”, and their interest calculation will commence. The collateral can be withdrawn to your Cyano Wallet if you wish.
Part 11: Asset Swapping and Withdrawal to your MetaMask
Click on “Asset Swap” in the top right-hand corner to begin the process.
Click “Withdraw” in the upper right corner to open a pop-up window. Input the amount of Ethereum assets you want to swap and click “Swap”.
Click “Confirm Swap” to open the Cyano pop-up, and input your password before confirming again. Once completed, the total pWBTC will be swapped to WBTC and withdrawn to your MetaMask wallet.
