Olive Testnet Guide 🖊️

https://medium.com/@erdv0711/incentivized-testnet-guide-olive-finance-b3052c7dc60c

The Olive v2 Complete Testnet Guide provides a comprehensive overview of how to get started with Olive Finance's testnet. Here's a summary of the key steps and information from the guide: S

Step 1: Setting up to Test

  • Connect your wallet on the Olive Testnet website and use an invite code https://oliveapp.finance/?ref=RDDQjdKx

  • You can obtain invite codes by tweeting to @0xOlive or from the Discord channel.

  • Upon verification, you earn your first Olive Drops. Get Testing Tokens

  • If you need testnet ETH, you can obtain it from the Arbitrum Goerli Faucet.

  • You can mint testnet tokens by visiting the Olive Testnet and clicking on the "FAUCET" button.

    Step 2: Olive v2 Vaults

  • Olive Finance's vaults are at the core of the platform, allowing users to deposit assets, withdraw, and manage their leverage.

  • You can make a deposit in a vault by visiting the vaults page on the website.

  • While depositing, you can choose your desired leverage and monitor your Health Factor.

  • Withdraw from a vault at any time by entering the desired amount of otokens and completing the transaction.

  • Managing your positions and maintaining a healthy Health Factor is crucial to avoid liquidation.

    Step 3: Olive v2 Lending Pool

  • Olive's lending pools operate on an over-collateralized lending model similar to Aave.

  • You can deposit assets into the lending pool, receive aTokens, and earn interest.

  • To deposit, click "LEND," enter the amount of the asset, and confirm the transaction.

  • You can withdraw from the lending pool by specifying the balance you want to take out and confirming the transaction.

    Step 4: Olive Drops

  • Check out the Drops page to view your Olive Drops and investment details.

  • You can refer your friends and earn rewards through the Olive Drops program. The guide encourages users to explore and enjoy the Testnet, provide feedback through a feedback form, and mentions the allocation of rewards for reporting bugs. In summary, this guide provides a step-by-step process for getting started with Olive Finance's Testnet, including wallet setup, obtaining test tokens, using vaults and lending pools, and participating in the Olive Drops program.

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