Table of Contents
Cost: 0$ Potential gain: 1,000$+ Follow this guide
1. What is Lena Network
Lending and Earning on Non-fungible Assets (LENA) is a new protocol that enables decentralized and permission-free borrowing and lending of NFT collections, hence increasing user sovereignty. LENA will also provide ETH liquidity pools for staking rewards, borrowing, lending, and more, with transparency at the forefront of our design.
Add Polygon (Mumbai) Network
Add Mumbai Network via Chainlist
- Go to Chainlist and connect wallet https://chainlist.org/
- Click include testnet
- You can select the RPC Server Address and Add to the Metamask
Claim Mumbai MATIC for testing use
Launch app and connect your Polygon Wallet
Click the “Faucet” button on the top menu
Click on “MATIC Faucet” to be redirected to mint test MATIC
Mint your NFT pass
To participate in the LENA testnet, you will need to mint your NFT pass. An NFT pass is a unique digital token that allows you to access and use the LENA platform.
Learn more about our NFT pass here
Follow the steps below to mint your NFT pass:
Connect your wallet and mint, please make sure you have obtain Mumbai MATIC above before minting.
Claim test tokens and NFTs
Click the “Faucet” button on the homepage to claim test tokens and NFTs
Click the dropdown and select WETH to mint some test WETH
Click the dropdown and select any of the NFT collections to mint a test NFT
Task 1: Deposit & Withdraw WETH
To deposit, click the ‘Deposit WETH’ button on the Liquidity homepage
To withdraw, click the ‘withdraw’ button inside the WETH asset class on the Liquidity homepage.
Please note that the transaction will fail if your withdrawal amount exceeds the available liquidity
Task 2: Obtain a loan
Switch to the borrow toggle and click ‘Borrow’ on your chosen NFT
Input the amount you’d like to borrow and approve the transaction.
Task 3: Pay back your loan
Switch to the borrow toggle and click ‘Repay Loans’ located on the top right corner
Input the amount you’d like to repay and approve the transaction
Task 4: Bid in the auction market
Click ‘Auction’ on the top menu
Navigate to the ‘Loans in Auction’ tab
Click on any item in auctions (IF AVAILABLE)
Enter your bid for the auction and submit
If you’ve won, make sure to check your ‘Auction History’ to claim your NFT.
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