Davos Protocol – Mainnet & Testnet
Davos Protocol is revolutionizing Stablecoins and Enhancing Capital Efficiency via Liquid Staking. Say Hello to Real Yields!
In this article, we will provide a step-by-step guide on how to use the Davos Protocol Mainnet to borrow, stake, and earn rewards. We will also explore the Davos Testnet, a sandbox environment where users can try out the platform's features without risking real funds.
About Davos Protocol
Davos Protocol is a cross-chain lending and borrowing platform that offers users a sustainable yield through its Stable Asset, $DAVOS. The platform provides a low-interest rate of 2% APR and addresses the issue of capital inefficiency in stablecoin reserves. The Davos Protocol runs on the Polygon network!
$DGT is the token that enables users to participate in the protocol's governance, and it can be earned by farming liquidity pools, staking, and borrowing.
Davos Protocol – Mainnet & Testnet
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Step by step guide Davos Protocol – Mainnet & Testnet Airdrop
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Go to the Davos Protocol App platform.
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Connect your Metamask wallet by selecting the Polygon network.
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Provide Collateral by depositing $MATIC.
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Once you have deposited your collateral, you can proceed to Borrow DAVOS tokens. The current borrowing limit is 66% of your collateralized assets. Davos Protocol suggests maintaining a borrowing threshold below 75% of the limit to avoid loan liquidation that may happen because of collateral price fluctuation.
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Now, you can start earning $DGT rewards by Staking DAVOS.
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Remember to repay the debt you owe in $DAVOS tokens to close your position after you have unstaked your tokens.
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Head to the Davos Testnet App web.
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Connect your Metamask wallet and select the Mumbai Testnet network.
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Use the Mumbai Faucet to claim Test tokens.
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Try out the platform and its features.
Step-by-Step Guide ''Davos Protocol Mainnet & Testnet''
▪️ To participate in the Davos Protocol Testnet, follow these steps:
* Overall, it's important to note that you should always do your own research and understand the risks involved before investing in any cryptocurrency or DeFi platform.
When using decentralized applications (ÐApps), it’s critical to remember that YOU are responsible for the security of your digital assets!
Disclaimer: This content is not intended to be financial advice. Investors should take the time to research any given product before depositing or investing their funds.
