What is Ithil?

Ithil is the first decentralised crypto portfolio manager. We work our magic to provide boosted exposure to selected DeFi strategies through a simplified user interface. New to trading? Try crypto trading bots or copy trading. Let’s unpack this mission statement.

How it works?

The protocol at its core consists of a lending and borrowing engine and modular ancillary strategies that can be added at any point in time via a governance vote.

Vault: gathers deposits from LPs and issues loans to strategies;

iTokens: yield-bearing ERC20 tokens that map LPs' deposits into the Vault;

Strategy: performs a set of actions on other DeFi protocols to generate a revenue;

Liquidator bots: ensure all loans are covered, liquidating the related position if not.

On a general level, Ithil is a two-sided platform featuring lenders (or LPs) and borrowers (so on called Risk Takers). LPs stake liquidity in the Vault and obtain in exchange an APY in the same token they deposited. Risk-takers, on the other hand, can execute whitelisted strategies with a capital boost by adding a margin as protection. Only when the risk-taker closes a position, they can withdraw eventual profits, provided their investment can pay off the loan and the protocol fees.

About testing steps

Week 1 features a small group of testers, hand-picked to create a highly representative sample of all DeFi users. We have a pool of additional testers ready to involve, just in case engagement from the initial selection of testers proves insufficient to meet our goals.

This will allow us to receive well-balanced feedback about the user interface, functionality, and more technical aspects of the protocol.

During this initial feedback period the Ithil team will be completely focused on reviewing and processing feedback, and implementing fixes and upgrades. If any significant improvements can be made, we aim to complete them before we expand the number of testers.

Week 2-3 will see an incremental increase in the number of testers, giving a larger number of people the opportunity to play around with Ithil, catch potential bugs and provide UI/UX feedback.

Week 4 marks the start of the Public testnet. This phase opens up the testnet to all willing participants, and ensures that we catch any arcane bugs or small details by sheer force of volume.

This phase will last until mid to late september, depending on the volumes and quality of feedback and corresponding changes to be made.

Testnet Setup

Ithil demo runs on Goerli Ethereum testnet - https://chainlist.org/

To use Ithil testnet you need to acquire some test ETH first that you can get from OwlBot in our Discord channel or from one of the faucets below:

Alchemix faucet

Mudit Gupta's faucet

PoW faucet

Some random faucet

You will also need some test ERC20 tokens to use the protocol. We created a frontend page named Faucet that you can access from the menu bar on the top showing all test tokens used on our testnet and a button to send a transaction and get 1000 test tokens.

Start testing the platform.

Go to the platform website and connect the wallet - https://ithil-frontend.netlify.app/trade

We request test tokens! Click on "+" thereby adding these tokens to the wallet, reload the page and request each token by clicking on the "Redeem" button

Let's start trading, click on the "Trade" tab and select "Margin trading"

We recommend playing around with the trading settings and trying to create orders with different indicators, thereby better testing the platform for errors!

Let's try the following function of the platform Yearn of Steroids"

Visit your personal trading account where you will see your active trades.

Experiment with rates, try to use all the coins to identify potential errors!

Testnet completed! You are great!

Feedback form

Be sure to fill out this form to claim the award and the role in the discord. If you find any errors, please describe them in as much detail as possible!

WEBSITE | DISCORD | TWITTER | MEDIUM | DOCS

TWITTER|TELEGRAM|REDDIT|TELETYPE|MEDIUM