December 22, 2022

How to use Moonwell

We go to the site https://moonwell.fi and click Launch App

We switch Metamask to the Moonriver network and connect to the site (if the network is not configured, then you will be prompted to add it)

I will show how to interact with the platform using MOVR as an example.

To interact with other assets, you will need to use a bridge (https://moonbeam.network/tutorial/cross-chain-assets-on-moonriver/)

On the platform, you can take a loan against your own funds or deposit them.

In order to deposit your funds, you need to specify the amount and click Deposit MOVR

Next, sign the transaction in Metamask

After signing, you will see that your deposit request has been successful.

In order for you to be able to use your asset as collateral, you need to sign a transaction to use the asset as a collateral, you need to click Yes and sign the transaction in Metamask

Click ENABLE MOVR AS COLLATERAL

Signing a transaction

After which the slider changes color and switches

Now we can borrow

To withdraw funds from the protocol, click Withdraw

Select the withdrawal amount and click Withdraw MOVR

Signing a transaction in Metamask

Done

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