WENWEN Protocol Beta Test Instruction

WenWenProtocol
5 min readJan 24, 2022

What Is WENWEN Protocol?

WENWEN Protocol is a stablecoin lending protocol that users can provide various crypto assets including basic assets and interest-bearing tokens as collateral to borrow a USD pegged stablecoin — WEN.

WENWEN Protocol has three main tokens: USD pegged stablecoin — WEN, incentive token — SHAREN, and governance and fee earning token — sSHARE.

WEN is used in the same manner as any other cryptocurrency: It can be freely transferred to others, used as payments for other assets and services, be held as a hedge against market volatility, and more.

WENWEN Protocol is a decentralized stablecoin protocol that will truly liberate your liquidity!

Beta Test Details:

WENWEN Protocol is launched onto Barnard TestNet for the beta test.

Launch time: 2022.1.24

How To Participate?

Borrow:

  1. Visit WENWEN Protocol https://wenwen.money/, click on Launch App.

2. You will be redirected to the Borrow Page and click on Connect Wallet to connect your StarMask wallet.

3. Go to your StarMask wallet and choose the correct network. This beta test is conducted on Barnard, therefore, you need to choose Barnard TestNetwork.

4. The borrow page shows the approved collateral assets and borrowing information. To borrow some WEN, click on STC.

5. You will be redirected to the Borrow and Repay page. Click on Borrow. You can visit https://faucet.starcoin.org/barnard to claim STC testnet token or join Starcoin faucet telegram group https://t.me/starcoin_faucet to claim your testnet token (Please note STC testnet token does not contain actual values, it is for test only).

6. Enter the amount of STC you would like to deposit and the amount of WEN you would like to borrow, and click on Add Collateral and Borrow.

7. On the right of the Borrow and Repay page, you will be able to see the information about your open position. Every time you adjust your position (add/remove STC or borrow/repay WEN), these parameters will adjust accordingly.

8. On the bottom left side, you will be able to see the balance of your wallet.

9. On the bottom right side, you will be able to see the static parameters of this STC asset pool.

Repay:

  1. To Repay your WEN debt, click on Repay.

2. Enter the amount of WEN you would like to repay and the amount of STC that you would like to remove. Click on Repay and Remove Collateral.

Please note that once you choose to repay your debt and remove your collateral asset, your liquidation price and position health will change accordingly.

Farm:

WENWEN Protocol offers different farming opportunities where users can stake their LP tokens to farm the incentive token SHARE. This mechanism is used to keep deep liquidity on particular trading pairs. Farming is currently available on Barnard for STC-WEN and STC-SHARE LP tokens.

  1. Visit WENWEN Protocol, click on Farm.

2. Choose the trading pair that you would like to provide liquidity. Visit Starswap https://t.co/Ob6bTwjezr, click on Pool.

3. Click on Add Liquidity.

4. Choose the trading pair you would like to provide liquidity, using STC-WEN as an example.

5. Click on Supply.

6. Visit WENWEN Protocol, click on + to stake your LP tokens.

7. Enter the amount of LP tokens you would like to stake, click on Confirm.

8. You can click on Harvest to collect your incentive token SHARE.

9. You can unstake your LP tokens at anytime, click on Unstake.

10. Enter the amount of LP tokens you would like to unstake, click on Confirm.

To learn more about WENWEN Protocol, follow our social media and join our community:

Discord: https://t.co/5ycr0boKVw?amp=1

Twitter: https://twitter.com/wenwenprotocol

Telegram: https://t.me/+AJM0wRH_93QzZmU9

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WenWenProtocol

WENWEN Protocol is a decentralized stablecoin lending protocol on Starcoin that truly liberates your liquidity!