New Feature Tutorial - Collateral Switch

Sep 5, 2021 10:37:00 AM / by DeFiner

One of the new features that we introduced in the recent update is Collateral Switch. In the current contract, each deposited token has defaulted as collateral. In the recent update, we have added a collateral switch and users can turn on and turn off the token as collateral.  This function not only gives users more options but also contributes to further lower the gas cost for transactions. This tutorial will cover how to turn on and off the Collateral Switch.

1. Turn on the Collateral Switch 

1. 1Navigate to the Portfolio Page 

Go to app.DeFiner.org and navigate to the Portfolio tab. You can see the collateral switch on the right-hand side of the list. 

 

1.2 Turn on the collateral switch

We will use USDT here as an example. You will be able to see both the change of your Borrow Power and the change of the Borrow Power used. 

1.3 Confirm in the Wallet 

Once you click on "Use USDT as Collateral", your MetaMask will be prompted. Confirm within the wallet. 

Once, it's confirmed on your wallet. You will be able to see your Collateral Switch turned on. 

 

You can also watch the process in our tutorial video below.👇 

2. Turn off the Collateral Switch 

2.1 Click on the Collateral Switch 

Click on the Collateral Switch of the asset that you wish to turn off. We are using USDT here again as our example. Click on "Disable USDT" 

 

2.2 Confirm in the Wallet 

MetaMask will be prompted after clicking the button. Confirm within the wallet. 

After the transaction is completed. You will be able to see the collateral switch turned off on the Portfolio Page. 

 

You can also watch the process in our tutorial video below.👇 

🙋Have more questions?

 Join our Discord or Telegram Channel and our friendly community manager will be able to help you. 

Tags: Product Tutorial

DeFiner

Written by DeFiner

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