V 0.10
Hashstack is a secure, permission-less undercollateralized lending platform inclusive to all. You can borrow up to 3 times the collateral without a credit score.
To facilitate loans sustainably, the loan stays within Hashstack. However, users can withdraw up to 70% of the collateral value from the borrowed amount.
Interest rates are calculated by employing the asset utilization ratio and are bound by a range of 2%-20% and 0%-15% for the borrowers and the lenders, respectively.
To try out Hashstack's zk testnet, you must have one of the compatible wallets installed. In this guide, we will walk you through the end-to-end process of creating an account on Starknet L2 compatible wallet and connecting with Hashstack's zk testnet.
For ease, we will use Braavos wallet as a reference.
Here are the steps -
- If you have a StarkNet wallet, you can import it via Braavos. If not, you can create a new one.
- After logging into your wallet, click on the Connect button to connect your wallet to Hashstack. Make sure you are on “Testnet 2”.
- After a successful connection, Hashstack’s dashboard screen will appear.
You can get testnet ETH from starknet’s faucets to pay the transaction fees.
Here are the steps -
- After you get some ETH for paying the transaction fees, return to the dashboard. Then click the Get Token button.
- Select the token of your choice from the pop-up menu.
- You will be prompted to sign the transaction.
Alternatively, you can add tokens to your wallet from the following addresses:
- 1.USDC
0x7ac56b3078e4428fdb3cc9cd257ce9cb77cc20f3ae0ed466c35f73e75ed42c8 - 2.BTC
0x0921f2737b52742c68c8d56f265c777988cbfeb60495ca2940663cf67ea4008 - 3.USDT
0x5d41add963bc6de5ba86cb1bec147f739df42a55c5d995b782da4534b2152ad - 4.BNB
0x66212ade7afb8a9be4b085d90baa7b6ceb05bf3524d79fcdd8d7aae3885aa3d
You can get Test ETH at Layer1 from any of the faucets -https://faucetlink.to/goerli. We recommend going with https://goerlifaucet.com/.
- Create an Alchemy account.
- Copy your public address from your Metamask wallet (not Braavos/ArgentX wallet) and paste it on input field
- Click on “Send me ETH” button.
- After you get some ETH, go to https://goerli2-bridge.hashstack.finance/ - it’s a bridge which Hashstack created to bridge your Test Eth from Ethereum’s Goerli 1 to Starknet’s Goerli 2 network.
- Connect both of your wallets - Metamask and ArgentX/Braavos wallet to the website.
- Click on “bridge” and wait for a few minutes, your test eth should be bridged in 4-5 minutes at max.
Currently, Hashstack’s primary market consists of USDT, USDC, BTC, and BNB. You can lend these assets to the protocol to earn up to 15% annualized interest.
Here are the steps to lend assets -
- 1.From the dashboard, click the Deposit button next to the asset you want to lend and select the asset.
- 1.You can check the interest rates of these assets on the dashboard, which may vary depending on the MCPs (Minimum Commitment Period).
At the moment, Hashstack has 4 MCP options:
- None (No MCP)
- 2 Weeks.
- 1 Month.
- 3 Months.
- 2.After deciding on your investment, you can proceed with the confirmation of your deposit by clicking on Deposit.
- 3.After signing the transaction on your wallet, you will receive a message confirming a successful deposit.
You can deposit more funds in your active deposit.
Here are the steps -
- From the home screen, click on Passbook
- Click on Active deposits.
- Select the deposit to which you want to add your assets.
- Click on Add to Deposit.
- Enter the amount and click the "Add to Deposit" button.
- You will be prompted to sign the transaction in your wallet. After that, you will receive a confirmation message for the same.
Note: The MCP will remain the same. You can withdraw after your initial deposit duration has been completed. (a 3-day lock-in period will be applicable.)
You can withdraw your deposit after your lending tenure has been completed.
- From the active deposits section of the passbook, click on the deposit which you want to withdraw.
- Enter the amount you want to withdraw and click on the Withdraw deposit button.
Note: A 3-day lock-in period will be applicable on your deposits, excluding the deposits with no MCPs.
Hashstack allows you to borrow up to 3 times the value of the collateral provided.
Let’s take a look at how we can borrow from the protocol -
- 1.On the Dashboard screen, you will see a Borrow button next to the assets of Hashstack’s primary market. Click on it.
- 2.Once the pop-up box appears, there, you can borrow the asset by providing collateral. Currently, Hashstack accepts the following as collateral:
- 1.USDT
- 2.USDC
- 3.BTC
- 4.BNB
The Borrowing APR (i.e., the interest you need to pay annually) will be visible at the bottom of the popup.
Borrowing has 2 commitment periods:
- None - for no MCP
- 1 month
- 1.Once you’ve entered the amount, click the "Request Loan" button.
- 1.You can check your loan status in the active loans section of the passbook. Here’s what it will look like -
You can add more collateral to your loan to prevent liquidation.
Here’s how you can do that -
- From the active loans section, select the loan to which you want to add collateral to.
- Select Add Collateral.
- Enter the amount you want to add and hit the Add to Collateral button.
Liquidation is a process where your collateral will be sold in the open market if your debt-to-collateral ratio exceeds the adequate value.
Borrowers will get a notification if their loan position is nearing liquidation. Thus, borrowers must maintain their debt-to-collateral ratio and deposit more collateral, if required to prevent liquidation.
You can repay the loan after one month if you want to.
- From the loan actions, click on Repay button.
- Enter the amount that you want to repay.
- Click on Repay and sign the transaction in your wallet.
Note: A 3-day lock-in period is implemented on the collateral when you repay the loan. After that, you can withdraw your collateral.
You can withdraw your collateral after you repay the loan.
Here’s how -
- From the passbook section on the home screen, click on Repaid loans.
- Select the loan whose collateral you want to withdraw.
- Click on withdraw collateral and sign the transaction.
You can withdraw up to 70% of your collateral amount into your personal wallet.
Here’s how -
- From the loan actions, click on Withdraw.
- Enter the amount that you want to withdraw.
- Click on Withdraw and sign the transaction in your wallet.
Note: If you try to withdraw more than 70% of your collateral value, the transaction will fail.
You can swap the loan amount for another asset. For instance, if you have borrowed BTC, you can swap it with USDT, UDSC, and BNB in the secondary market.
Here’s how you can swap -
- From the active loans section of the passbook, select the loan which you want to swap.
- A pop-up will appear. Click on the Swap button.
- Select the Swap Loan option and select the asset with which you want to swap your loan.
- Click on Swap Loan. You will be prompted to sign the transaction.
- After a successful transaction, you will receive a confirmation message.
- If you want to swap it back into your loan (originally borrowed asset), select the Swap to Loan option. Click on the Swap to Loan button and verify the transaction in your wallet.
Last modified 1mo ago