Testnet Experience
How to Deposit
How to Lend
How to Borrow
How to Repay
How to Withdraw
How to Stake
How to Unstake
How to Withdraw from Parallel's Network
How to Deposit
After you get your test tokens, you will see that the Kusama test tokens are in "Assets in Other Network." Your USDT and HKO test tokens will automatically deposit to "Assets in Parallel." To begin testing features, you will need to deposit Kusama test tokens into Parallel's network.
Go to the Overview page and "Asset in Other Network" table.
Click Deposit.
Enter an amount to deposit and confirm your transaction.
After you see a transaction success message, you will see your Kusama test tokens in the "Assets in Parallel" table. You can proceed to lend & borrow, or stake to test out those features with your test tokens on Parallel.
How to Lend:
1. To test out Parallel’s lending mechanism and start earning interests on your test tokens, go to the Lend and Borrow page to supply test token assets. Since you haven’t deposited yet, all of your balances will be zero. Click ‘Supply.’
2. When you click ‘Supply,’ the app will ask you to confirm how much you would like to supply. Supply the desired amount for lending. As you can see below, I have 100 KSM available in my wallet, and I am supplying 50 KSM. Click ‘Submit.’
3. The Parallel app will ask you to confirm the amount. Click ‘Confirm’ when you are ready.
4. A window for your polkadot{.js} wallet extension will automatically pop up. Type in your password, and click ‘Sign the transaction’ when you are ready. If you’d like to, you can allow polkadot{.js} to remember your password for 15 minutes.
5. After the transaction is processed, you will see your supply balance has changed. As you can see below, I have supplied 50 KSM and I have 50 KSM in my wallet. Over time, you will see how much interest you have earned by checking the ‘Earned’ amount at the top of the page.
How to Borrow:
1. After you have supplied your crypto, you can borrow. From the Deposits tab, you will first need to enable collateral in order to borrow against it. Use the ‘Collateral’ toggle to enable ‘Borrowing’ and see your Borrow Limit reflected on the page.
2. When you click the ‘Collateral’ toggle, your polkadot{.js} wallet extension will automatically prompt you to confirm, as below. Review the information as needed, and click ‘Sign the transaction’ when you are ready.
3. Once you have enabled collateral, switch to the Loans interface, by clicking the ‘Loans’ bar, which is immediately adjacent to the ‘Deposits’ bar. 4. Now that you have enabled collateral and switched to the Loans interface, you will see your Borrow Limit increase, as below, and you will be able to select an asset to borrow.
4. Choose which asset you would like to borrow, and click ‘Borrow.’ A window will pop up prompting you to decide how much you’d like to borrow, as below. As you can see, you can either type in the amount, or choose a percentage you’d like to borrow. Select the amount you’d like to borrow, and click ‘Submit’ when you are ready.
5. Your polkadot{.js} wallet extension will automatically pop up. Review the information as needed, and click ‘Sign the transaction’ when you are ready.
After the transaction is confirmed by the network, you will see that your wallet balance has increased by the amount you borrowed, and the percentage under your Borrow Limit has increased as well.
Repaying Your Loan:
1. At this point, you will have borrowed assets in your wallet. On the Lend and Borrow page, you should see a green button that says ‘Repay.’ Click that button when you are ready.
2. This will trigger a pop up, as below, showing your total amount repayable, and prompting you to decide how much you’d like to repay. Decide how much you’d like to repay, and click ‘Submit’ when you are ready.
3. The Parallel app will ask you to confirm the amount. Click ‘Confirm’ when you are ready.
4. Your polkadot{.js} wallet extension will pop up, as below. Read the information as needed, and click ‘Sign the transaction’ when you are ready.
5. When the transaction is confirmed by the network, you will see that the borrowed coins are no longer borrowed, and the percentage below your Borrow Limit has increased, as below.
Withdrawing from the Lend and Borrow Page:
1. On the Lend and Borrow page, you should see a green button labeled ‘Withdraw.’ Click that button.
2. The UI will prompt you to decide how much you’d like to withdraw. Select the amount you’d like to withdraw, and click ‘Submit.’
3. The Parallel app will ask you to confirm the amount. Click ‘Confirm’ when you are ready.
4. Your polkadot{.js} wallet extension will pop up, prompting you to sign the transaction. Review the information as needed, and click ‘Sign the transaction’ when you are ready.
5. After the network confirms the transaction, you will see that your crypto has returned to your wallet, and your Borrow Limit has decreased, if you had previously enabled collateral.
How to Stake
From the navigation, click into 'Staking' and you will see the toggle for stake and unstake. Below, you will see the list of validators and their score (0-100, where 100 indicates very low risk of slash). This score is algorithmically derived and determines the highest performing nodes. You can also find out more information on each validator by clicking into it and a new tab will opening taking you to the polkadot validator stats page.
Make sure you're on the Stake portion. You will be able to see how much KSM you can stake by looking at the amount below the text box. On the right menu, users can check the staking APY and statistics on Parallel.
3. Select a percentage or enter an amount you want to stake.
4. Click Submit and confirm in the polkadot.js confirmation pop up.
5. From the overview page, you will be able to view your total staked assets.
How to Unstake
From the navigation, click into 'Staking
Click on the Unstake toggle
Select a percentage or enter an amount you want to unstake.
Click Submit and confirm in the polkadot.js confirmation pop up.
How to withdraw asset from the Parallel Network
Go to the Overview page and see your assets in the "Assets in Parallel" table.
For the assets that you have a balance in, the 'Withdraw' button will be in active state.
Click withdraw for the asset you want to withdraw out of Parallel.
Indicate the amount and confirm the transaction.
Once the transaction is successful, you will see the amount reflected in the "Assets in Other Network" table.
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