Flamingo Lend
In this section we'll walk you through the step-by-step process of taking out an FUSD loan on Flamingo Lend. We’ll also walk you through repaying your loan and adding and removing collateral.
Last updated
In this section we'll walk you through the step-by-step process of taking out an FUSD loan on Flamingo Lend. We’ll also walk you through repaying your loan and adding and removing collateral.
Last updated
This section describes the step-by-step process of taking out an FUSD loan. To learn more about the FUSD protocol and the terms outlined in this guide, please read the Flamingo Stablecoin FUSD overview.
NOTE: Numbers and figures in this tutorial represent testing data only and may not accurately represent current figures.
To take out an FUSD loan on Flamingo, you will need:
A computer (Mac or PC) connected to the internet
An internet browser (like Google Chrome)
An installed Neo wallet (in this guide we will be using the Neon wallet)
A small amount of NEO N3 GAS tokens for making transactions with Flamingo
Collateral assets such as FLUND, bNEO, and/or fWBTC
1. If you haven't already, set up a Neo wallet.
2. Go to Flamingo.Finance > Lend.
3. Select Connect Wallet > NEON.
4. There are several ways to connect your NEON wallet to the platform. You can either Link your wallet, scan a QR code or copy and paste the connection URL into the add connection page in your wallet. For this example, we have chosen Link Wallet with the Deeplink connection. The browser will ask you if you would like to accept Neon to make a connection. Select Yes.
5. You are now prompted with the NEON wallet connection window. Select the green checkmark.
6. Your wallet is now connected. Return to Flamingo and select Create New Loan.
7. The Asset Actions tab will open to a New Loan. Select the Loan Asset (currently only FUSD is available). Then, select the Collateral Asset you would like to use as collateral to back your loan. For this example we have chosen bNEO. Select Continue.
8. Enter the Collateral Amount. For this example we chose 20 bNEO to use as collateral. Then, enter the Loan Amount (the amount of FUSD you would like to be loaned) or use the slider to adjust the amount. For this example we chose a Loan Amount of 624 FUSD with a Loan-to-Value of 26.59%. Select Continue.
9. You will be warned of the risks involved with taking out an FUSD loan. If you agree, select Confirm.
10. Flamingo will wait for your transaction signature. If your wallet does not automatically open, go to it to accept the transaction.
11. Select the green checkmark to confirm the transaction.
12. Neon Wallet Connect will show your transaction pending. Return to Flamingo.
13. Flamingo will confirm the successful transaction. Select Close.
That’s it! You have now successfully taken out an FUSD loan on Flamingo Finance. You can now take out more, repay your loan, remove your collateral, add more collateral, or take out a different loan with a new collateral asset.
In this section we’ll walk you through how to repay an FUSD loan.
1. Go to Flamingo.Finance > Lend. On the loan you want to repay, select View Loan.
2. The Asset Actions tab will open to your Loan Details. Select Repay Loan.
3. Enter your Repay Amount. In this example we will repay 300 FUSD. If you would like to repay your FUSD loan in full, check the Repay loan in full checkbox. Check the Loan details after repayment information and select Repay Loan.
4. Flamingo will wait for your transaction signature. If your wallet does not automatically open, go to it to accept the transaction.
5. Select the green checkmark to confirm the transaction.
6. Neon Wallet Connect will show your transaction pending. Return to Flamingo.
7. Flamingo will confirm the successful transaction. Select Close.
That’s it! On your Loan Details page you will now see your Repaid amount. In this example we successfully repaid 300 FUSD. You can now take out more FUSD, repay your loan, remove your collateral, add more collateral, or take out a different loan with a new collateral asset.
In this section we’ll walk you through adding and removing collateral on an already-existing FUSD loan.
1. Go to Flamingo.Finance > Lend. On the loan you want to repay, select View Loan.
2. The Asset Actions tab will open to your Loan Details. Select Remove Collateral or Add Collateral. In this example we will add collateral.
3. Enter the amount of collateral you want to add. Remember that you’ve selected a specific collateralized loan and you must add collateral of that asset. For this example we will add 5 bNEO to our collateral. Select Add Collateral.
4. Flamingo will wait for your transaction signature. If your wallet does not automatically open, go to it to accept the transaction.
5. Select the green checkmark to confirm the transaction.
6. Neon Wallet Connect will show your transaction pending. Return to Flamingo.
7. Flamingo will confirm the successful transaction. Select Close.
That’s it! On your Loan Details page you will now see your collateral added. In this example we successfully added 5 bNEO to our collateral. You can now take out more FUSD, repay your loan, remove your collateral, add more collateral, or take out a different loan with a new collateral asset.
