At the forefront of the Decentralised Finance (DeFi) space, Olive Finance brings forth innovative opportunities for yield farming enthusiasts. With the ability to leverage LP tokens up to 10x, Olive Finance offers enhanced yield farming potential.
This distinctive approach empowers yield farmers to amplify their returns on their preferred LP tokens. The leveraged positions are backed by dedicated over-collateralized lending vaults, where lenders contribute their cryptocurrency assets. These assets are made available for borrowing by LP vaults, creating a symbiotic relationship within the Olive Finance ecosystem.
To connect your wallet and redeem your Testnet invite code on Olive Testnet, follow these steps:
Visit the Olive Testnet website (https://www.oliveapp.finance/) 🌐.
Click on the "Connect Wallet" button.
Enter your invite code. You can obtain your code by tweeting to @0xOlive or by visiting the #Invite code (https://discord.gg/oxolive) channel in the Discord (https://discord.gg/oxolive) community.
If you have an invite code, you can use this one: LYFmadeEasy.
Olive Finance uses vaults as the core concept. Each vault is associated with a specific strategy contract for auto-compounding returns and a lending pool for borrowing purposes.
Within the vaults, users can perform the following actions:
Deposit: Add assets to the vault. Visit the vaults page (https://www.oliveapp.finance/vaults/) and follow the instructions.
Withdraw: Retrieve assets from the vault.
Manage Position: Adjust and optimize leverage within the vault.
Olive's lending pools operate on a model similar to Aave's over-collateralized 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.
To deposit assets into a vault, follow these steps:
Click on the "LEND" button, which will redirect you to the USDC pool.
Enter the amount of USDC you want to deposit, and the corresponding amount of aTokens that will be generated will be displayed.
Click on "Approve", set the USDC limit, choose the preferred method to pay gas fees, and finally click "Deposit".
💌 We invite you to explore and enjoy our Testnet! If you have any 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! As a token of 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 will be given on a first-come, first-served basis.
