Malda Testnet
Navigating the Malda Awakening Testnet
Last updated
Navigating the Malda Awakening Testnet
Last updated
The Malda testnet allows users to experience unified liquidity lending for the first time - a seamless lending experience connecting liquidity and UX across supported chains. During the testnet, users will be able to use their Externally Owned Address (EOA) to simulate an experience as though using a Global Account.
Although Malda testnet will provide a unified lending experience, due to constraints of the EOA users will be prompted to sign spending approval transactions for each individual chain. This will no longer be the case once Global Accounts becomes available, foreseeable for Malda mainnet.
Your assets on Malda are part of a unified pool. Malda is able to detect assets from all supported chains.
To supply assets, you have two options:
Enter the total desired supply or click “Max”. This supplies the asset from all chains you have it on to the global pool.
Open the dropdown, and manually enter how much you want to supply from each chain.
Users will need to have ETH for gas on each respective chain.
In order to initiate borrows, supplied assets must first be set as collateral.
All assets set as collateral Malda contributes to your borrow limit, regardless of which chain they were supplied from.
It is possible to borrow to any supported chain on Malda. Click on borrow for the asset of choice, then select which chain you want to receive the borrowed asset.
Similarly to supplying, repaying can be completed from multiple chains at once. In the same fashion, users can either
Enter the total amount you wish to repay, or click “Max” to repay using assets from all available chains.
Open the dropdown, and manually enter how much you want to repay from each chain.
Once borrows have been repaid, supplies can be withdrawn. Simply click on withdraw, and pick a chain of choice to receive your assets.
The borrow capacity shows how much of your available collateral is used up. Different assets have different collateral factors (C-factor), or loan to value (LTV).
For instance, if $1000 worth of an asset with 70% C-factor is borrowed, your total capacity for borrowing is $700. Borrowing $700 puts you at 100% borrow limit, and your position can be liquidated.
Coming soon!
