# The Olive v2 Complete Testnet Guide By [-AlexPro-](https://paragraph.com/@alxpro) · 2023-10-04 --- 🖊️ **Olive Finance** stands at the forefront of Decentralised Finance, introducing enhanced yield farming opportunities with a **leverage of up to 10x for LP token** enthusiasts.This unique approach allows yield farmers to amplify their returns on preferred LP tokens. The underlying capital for these leveraged positions is sourced from dedicated over-collateralized lending vaults. In these vaults, lenders contribute their cryptocurrency assets, which are then accessible for LP vaults to borrow. In return, lenders accrue passive income, ensuring a win-win ecosystem. **🎉 The fun has already begun. The Testnet is live now! 🎉** 1\. ⚙️ Setting up to test ========================= Connecting wallet & Testnet invite code 🤫 ------------------------------------------ * **Visit:** [**Olive Testnet**](https://oliveapp.finance/?ref=S6WHsEFi) **🌐** * **Click → Connect Wallet 👇🏼** * **Enter your invite code. You can get your code by simply tweeting to @0xOlive.** * You can also get an invite code from [#Invite code](https://discord.gg/oxolive) channel in our [Discord](https://discord.gg/oxolive) * Here’s an Invite Code, Just for you - **S6WHsEFi** ![](https://storage.googleapis.com/papyrus_images/0f0314d15b3cb2f16514a62f265f73322a3ed9d8a3eeb34775821d7a81784900.gif) * Once you get the code enter your code and click Verify. ![](https://storage.googleapis.com/papyrus_images/9072c94ad59d7028d2a69eea1a161a10ba241435ba2d2578d999369ea374c598.gif) 🎉Congratulations y**ou’ve earned your _first Olive Drops!_ Isn’t that super cool? 😎** ![](https://storage.googleapis.com/papyrus_images/7364f700f99c34792db3e3225d2894be409e899c0a26b78306efb88432f85b39.png) Get testing tokens 🪙 --------------------- * **Short on ETH? Get Testnet ETH from Arbitrum Goerli Faucet** [**\[Link\]**](https://faucet.triangleplatform.com/arbitrum/goerli) ![](https://storage.googleapis.com/papyrus_images/42fb56d96f2b92f033a86de28ecb3ff47347694fb827bc7cd9e4a8eb96fc95cf.gif) S**tart minting Testnet tokens at** [**Olive Testnet**](https://www.oliveapp.finance/) **by clicking on ‘**[**FAUCET**](https://www.oliveapp.finance/faucet/)**’. → ‘HIT THIS BUTTON TO MINT TESTNET TOKENS’** ![All set! Now let’s try out different things you can do on Olive v2! Enjoy the extraordinary LYF (Leveraged Yield Farming) with Olive Finance.](https://storage.googleapis.com/papyrus_images/05e9c23310b91aaf241816f2c0de67203e9df7b5392e53eeb2dbc385407d818b.gif) All set! Now let’s try out different things you can do on Olive v2! Enjoy the extraordinary LYF (Leveraged Yield Farming) with Olive Finance. 2\. 🏦 Olive v2 **Vaults** ========================== At the heart of Olive Finance lies the concept of vaults. Each vault is intricately linked with a specific strategy contract, designed to auto-compound returns, and a dedicated lending pool for borrowing purposes. **Users have the flexibility to undertake the following actions within the vaults:** 1. \*\*[Deposit:\*\* Add assets to the vault.](https://www.oliveapp.finance/vaults/) 2. **Withdraw:** Retrieve assets from the vault. 3. **Manage Position:** Adjust and optimise their leverage within the vault. ### 💱 Let’s make a deposit in the vault * **Head over to the vaults page and make a deposit.** ![](https://storage.googleapis.com/papyrus_images/28389cdfb54636f188f393d1ce2fa5a141a54d56bb50a62b5dfd93b66660b274.gif) * **You also get a glimpse of the** [**otokens**](https://docs.oliveapp.finance/olive/mechanisms/vaults#:~:text=With%20Leverage%3A,the%20lending%20pool.) **you are earning based on your deposits.** * **You can select leverage but also keep an eye on the** [**Health Factor.**](https://docs.oliveapp.finance/olive/mechanisms/vaults#health-factor) ![](https://storage.googleapis.com/papyrus_images/fab90cff8a89d023b82586994734d9018d4cb285ea5a0f990ed08ab46698c93c.gif) * **Click approve to complete the transaction.** * 💡Protip: Click on ‘Max’ on spending limit for a seamless experience while adjusting leverage. ![](https://storage.googleapis.com/papyrus_images/7b4b3d2c4e743123ff75e5907fd954337ce236564f26bdd874d5c1cea61b2a9d.gif) **Plus, you get a brilliant overview of your Position on the right side of the screen including important info like Health Factor, APY, and more.** ![](https://storage.googleapis.com/papyrus_images/fb6b2a740b0f4fcba3589e9aebfa09a3d533cf866f23ce2dc4fa5ff211a6754d.png) ### 💸 Withdraw from Vault anytime you like * **You can head over to withdraw and enter otokens amount to make withdrawal.** ![](https://storage.googleapis.com/papyrus_images/2b4dabe1d4a9202e17edd541466eba6489aecf4e3c55e8e163ad6ff98a9cd11f.gif) **Click Withdraw and pay gas fees to complete the transaction.** ![](https://storage.googleapis.com/papyrus_images/5201230347930def35d34c2ae783b1df746f5103b5afe3b27373d622fe12e464.png) ### ⛑️ Manage positions & maintain vault health * M**aintaining a healthy** [**Health Factor**](https://docs.oliveapp.finance/olive/mechanisms/vaults#health-factor) **helps you to avoid liquidation and you can always do that by managing the leverage.** * To manage leverage **head over to the Manage tab and set your leverage through a simple drag.** * **After setting up your desired leverage, click on Leverage/Deleverage button and pay gas fees.** ![](https://storage.googleapis.com/papyrus_images/fd2219dc1396ffc13457456eb47141630ca17fa6461fdf111ecebc0b09cebaf8.gif) 3\. 🌀 Olive v2 **Lending Pool** ================================ Olive's lending pools operate on a model reminiscent of Aave’s **over-collateralised lending model.** When a user deposits assets, they receive aTokens (representing their supplied assets). Conversely, when a Vault borrows assets to facilitate user leverage, dTokens (indicative of the debt) are issued to the user. [**Now let’s head over to the lending pools!**](https://www.oliveapp.finance/lend/) ### Deposit * **Click LEND and you will be redirected to our favourite USDC pool.** * **Simply enter the amount of USDC and you will be shown the amount of atokens that goes into the pool.** * **Click approve, set USDC limit, pay gas fees with and finally click Deposit.** * ![](https://storage.googleapis.com/papyrus_images/70485724a9bd09d725b1cdfe7151be75fd66d11feb3d2f8728b31c2691859940.gif) ### Withdraw * **You can now head to the Withdraw tab and enter the balance you want to withdraw.** * **Click withdraw and confirm gas fees. You’re all done now!** ![](https://storage.googleapis.com/papyrus_images/36abfd61193ff850c8cbcdff65469c6ac2ad8268a9b2a165476ec993beef5aea.gif) 4\. 💸 Olive Drops ================== We invite you to explore and enjoy our Testnet! Have suggestions for improvement? We encourage you to share your thoughts through [our Testnet Feedback Form](https://docs.google.com/forms/d/e/1FAIpQLSfAxC7AHXKvydXkCL9k7zFSrkP-kWg3cLu95IdmVwbWTeP-sA/viewform) Your opinion is invaluable to us! To show our appreciation for your interaction with the Testnet and reporting of bugs, **we have allocated exclusive rewards for Testnet users. Stay tuned!** **Note: The quantity of tokens awarded will correspond to the severity of the reported bugs and on first come basis.** --- *Originally published on [-AlexPro-](https://paragraph.com/@alxpro/the-olive-v2-complete-testnet-guide)*