Optim Finance SPO Liquidity Bonds have just been launched on Testnet! In this Guide, you will find information on how to set up a wallet for the testnet, what kinds of actions you can take, and how to provide feedback.
The Guide is structured in 4 Parts:
- Background (setting up a testnet wallet and requesting tADA)
- How to buy a Bond on the Optim Finance Testnet
- How to create a Bond on the Optim Finance Testnet
- Provide Feedback for the Optim Finance Team
1.1 Set up a Cardano Wallet
The most popular and user-friendly wallets in the Cardano ecosystem currently are:
1.2 Switch to the Preview Testnet Environment on the Cardano Wallet
For example, on Eternl, this can be done by clicking “Mainnet” and selecting the “Preview Testnet”
On Nami, “Preview Testnet” can be found in the “Settings” section, after clicking “Network”.
Don’t forget to set up collateral in the wallet which is needed before interacting with dApps!
1.3 Request Testnet ADA (tADA) from the Faucet
Use your Testnet Address to request tADA from the Testnet Faucet.
2. How to buy a Bond on the Optim Finance Testnet
2.1 Go to the Liquidity Bonds Testnet Environment and Connect your wallet on the top right corner (https://preview.optim.finance/dashboard)
2.2 Dashboard View
In the Dashboard, there is an overview of the stats on Liquidity Bonds as well as the most actively traded Bonds (Hot Pools)
2.3 Bonds View
In the Bonds section, you will have a more detailed overview of the Bonds available. Select a Pool to fund by clicking “Buy Bond”
2.4 Buy Bond
In the Buy Bond Section, you will find relevant data related to the Bond you want to purchase, such as the minimum Amount to buy, the total value to be raised in the Bond, and the lock-up period. To purchase, click “Deposit to this Pool”, which will prompt you to sign a Transaction.
2.5 Receive EQT Tokens
Once you have deposited ADA, you receive EQT Tokens representing your share of the ADA deposited in the Bond. These EQT Tokens function as a receipt. If the Bond still isn’t full, you can use them to withdraw them and recoup the ADA deposited.
EQT Tokens stand for pool equity tokens as in equity in the pool that is getting the 1M ADA necessary to fill it. In this process, you deposit/withdraw in 100 ADA multiples where 100 ADA is equal to 1 EQT.
You can view your EQT Tokens and in the Bonds that are to be closed in the Your Page Section.
2.6 Convert EQT Tokens for Bond Tokens (BTs)
Once the Bond where you deposited ADA is filled, you have to convert your EQT Tokens to Bond Tokens (BTs). 1 EQT can be exchanged for 1 BT. You’ll need to go through this step to get access to the underlying ADA in the Bond once the period is over.
EQT Tokens to Bond Tokens conversion can be done by clicking “Convert” in the “Bond Positions” on the “Your Page” Section.
2.7 Monitor the Loan status
Lenders will be able to Monitor the state of their Bonds, let them mature, deposit extra interest, and more.
2.8 Redeem ADA at Maturity
Once a bond reaches maturity, users can Redeem their underlying ADA plus accrued interest. This final transaction ends the life cycle of a bond.
3. How to issue a Bond on the Optim Finance Testnet
3.1 In order to issue a Bond, head to the “Issue a Bond” Section in the Dashboard or Bond Sections.
3.2 Fill the necessary information in the Issue a Bond Page.
More details regarding the information to be filled in this step (such as SPO Pubkey, Bond Duration, Bond Amount and Interest Rate) can be found in our Guide for SPOs in our Docs. For the purposes of this testnet, you can use you Testnet Wallet Receive address as a “fake” SPO pubkey in the “SPO Pubkey” Field.
3.3 Monitor the Loan Status
In the “Your Page” Section, Borrowers will be able to Monitor the state of their Bonds.
4. Provide Feedback for the Optim Finance Team
We encourage and greatly appreciate any feedback from using the Optim Testnet. Please use the following Google Form to provide Feedback