Navigating the HARBOR Protocol
In the month of August, we saw the launch of cSwap Testnet amongst other events, in the Comdex network.
Never have they wanted to put a slow-down on any project of theirs since the network was founded. Comdex has been on steady development, going from stage to stage on their roadmap, absolutely making sure to complete their bulleted bucket list.
This article will focus on yet another recent development by the Comdex network, the launch of the Harbor Protocol. Scroll down for more information.
Harbor
Harbor Protocol is a decentralized finance application built on the Comdex blockchain with CosmWasm and Cosmos SDK smart contracts.
The app allows those known as market makers to have advantages when securities, commodities, currencies, or other tradable item is bought in one market and sold simultaneously in another, in order to profit from the price differences between the markets. Via Vaults, you can safely list your assets and lock them there. This enables you to mint your Composite ($CMST) tokens with ease.
In the HARBOR Protocol, you can gather interest by locking your Composites in its Vaults — via its Locker modules, and as a market maker, you can make good use of your arbitrary profits with the StableMint feature which makes sure that while you are minting your $CMST, the token keeps it’s price peg stable, even in markets not within the Cosmosphere.
Before You Anchor
Before you even begin to utilize the Harbor Protocol, you must have connected your KeplrWallet to your Google account via the Chrome extension.
Yet again, before you secure your anchor on the harbor, visit the Comdex network’s Discord, and go to the “#request-faucet” mini channel. Punch in the letters, “$testnet<your wallet address>” and you’re good to go.
https://bit.ly/ComdexOfficialDiscord
1st Time on the Harbor
Here is the guide to walk you through the Harbor Protocol, if it is your first time being there.
https://testnet.harborprotocol.one/
Open the Harbor platform and tap on CONNECT.
Upload your InterBlockchain (IBC) assets, if you have any.
DEPOSIT them on any asset under the ASSETS tab.
Input the quantity you want to chip into your wallet.
When you are finished, APPROVE the transaction.
Minting Composites
To mint your $CMST tokens, you have to go through the following steps.
Depending on which part of the website you find yourself…
Click the MINT tab on your left-hand side.
Click TAKE ME THERE, if you are on the dashboard.
Begin to structure your vault, based on:
Stability fee,
Collateralization,
Minimum borrowing amount
Now, in the DEPOSIT tab, input the amount you want to use to borrow your Composite tokens.
Adjust your collateralization ratio.
Tap on MINT.
APPROVE the transaction in the popup brought by KeplrWallet.
Go back to the EDIT mini tab of the MINT tab.
Edit the functions you wish to.
Some of which include:
Deposit,
Draw,
Repay,
Withdraw.
APPROVE the transaction.
Active Participation
You can be an active participant in the key decision-making processes of the Protocol. But how to?
You will find the MORE tab at the bottom left side of the screen.
Open it and click GOVERN, to see the activities of governance which are happening within the HARBOR Protocol, such as proposals.
Checking Your Interest
To begin to earn interest from minting your Composite tokens, complete these steps.
Click EARN on the sidebar.
How much do you want to input?
APPROVE the transaction.
Open the CALCULATOR mini tab.
Check the estimate of the Composite you have earned over a period of time, with an interest rate.
Do you wish to take that amount?
Go to the AMOUNT TO WITHDRAW tab.
Input your desired amount.
Click WITHDRAW.
APPROVE the transaction.
Checking Your Positions
Your Positions include your transaction history, the status of your locker, and the status of your vaults.
The locations are named after their duties, so to get to any of them:
Click MY POSITIONS.
View your LOCKER.
Tap to see your HISTORY.
And check your VAULTS.
Auctions
To check out the auctions being carried out within the HARBOR Protocol:
First, open the AUCTION tab and scroll through the list of assets for sale on auction pricing.
If you want to place a bid, there is a mini tab specifically titled for that.
Click PLACE BID and input the amount you want to use to take a part in the auction.
APPROVE the transaction.
Testnet v2
An update has been made to the platform, featuring new edits such as:
Ledger support.
The functionality of the Locker has been fully placed in the EARN tab.
The VOTE button has been disabled till further notice.
You can now lock your $HARBOR tokens to get $veHARBOR (reward tokens) in the tab for MORE.
Are you ready to go? You can visit this link https://t.co/hqS5IFQ5Hn to join the Harbor Protocol now.
About Comdex Network
Comdex is building an ecosystem of solutions that work synergistically to aggregate liquidity from DeFi ecosystems and facilitate its flow into CeFi. Whether through the enterprise trade platform & the tokenization of real-world assets through access to the price fluctuation of various assets via Synthetics, as a Defi infrastructure layer, the Comdex ecosystem promises to facilitate an all-in-one hub to democratize finance.
Interested? Join the community now:
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