💡How to

Learn how to use Grand Base protocol

Grand Base is a DeFi protocol that enables users to create, trade, and bet on gAssets, which are synthetic tokens reflecting the value of real assets. Here's a complete guide to using the Grand Base protocol:

  1. Mint a gAsset:

  • Connect to the Grand Base platform with your wallet.

  • Select "Mint" from the menu.

  • Choose the real world asset you wish to reflect as a gAsset.

  • Deposit the collateral required (usually in USDC) to mint the gAsset. The collateralization ratio must be maintained to avoid liquidation.

  • Confirm the transaction and receive the minted gAsset in your wallet.

  1. Trade gAssets

  • Access the "Trade" tab on the platform.

  • Select the gAsset you wish to swap.

  • Enter the amount and confirm the transaction.

  • Once the transaction has been confirmed, the assets exchanged will be updated in your portfolio.

gAssests will be traded via a DEX

  1. Burn a gAsset:

  • If you wish to convert your gAsset into collateral, access the "Burn" option in the menu.

  • Select the gAsset you wish to burn and enter the amount.

  • Confirm the transaction, the gAsset will be burned and the corresponding collateral will be released and returned to your portfolio if the conditions are fulfilled

  1. Managing collateral:

To avoid liquidation, it is essential to maintain the collateralization ratio. You can add or remove collateral for a minted gAsset by accessing the "Manage Collateral" option. If the collateralization ratio falls below the minimum threshold, your position may be liquidated.

If you want to have more details and the dApp overview: https://medium.com/@grand.base/grand-guide-db84d0f13c30

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