How to deposit and borrow in Port Finance via Slope Wallet
To facilitate the process of participating in this event for everyone, we hereby wrapped up a tutorial on how to use Slope Wallet to deposit and borrow tokens on Port Finance.
First of all, all you need to do is to download Slope Wallet App via App Store or Google Play. We are writing this tutorial on the premise of you have an address with some SOL in it.
The first step is to tap the button that looks like a Compass on the bottom, as shown below.
If you are using Port Finance for the first time, you should click on approve to set up your account.
Tap the ‘Connect’ button and choose Slope wallet.
Tap the menu button on the top and choose the ‘Supply’ page.
Choose the token you want to deposit. In this case, we choose SOL. Remember DO NOT deposit all tokens in your wallet because you have to remain some as Gas fee.
Input the number of tokens that you would like to deposit. Tap ‘Confirm’ and approve the operation.
and then click on the button ’Approve’
Then tap the ’Menu‘ button and change to the Borrow page. Choose the token you would like to borrow. Input the amount, ‘Confirm’ and ‘Approve’. Pay attention to your risk factor. The more you borrow, the higher risk you will shoulder.
Please make sure you know the risk when you borrow. If the value of the collateral you deposited goes down beyond a certain threshold or your borrowed asset goes up, you may get liquidated. Keep an eye on your risk factor. If it reaches 100%, your collateral will be liquidated.
If the network is congested and there’s something wrong with your transaction, tap the Environment button and select another RPC.
If you want to withdraw the tokens you deposited, you need to repay the tokens you borrowed first.
Go to the Borrow page and choose the token you borrowed. Tap the repay button and pay tokens back. Due to interest accrue, you need to pay a little bit more tokens than you borrowed to repay fully.
Now you can go back to the supply page to withdraw the tokens you deposited.
Yay, now you have gone through the procedure in Port Finance.
Let’s work on the rest of the tasks to earn rewards.