TokenPocket(English)
  • Introduction
  • 👥Blockchain Basics
    • What Is Blockchain?
    • What Is a Decentralized Wallet?
      • What is a Tether (USDT) Wallet? How Does a USDT Wallet Work?
    • What Is the Private key, Mnemonic and Wallet Password
    • What Is the Gas Fee?
    • What Is DeFi ?
    • What Is DEX ?
    • What is keystore
    • What is a cold wallet
    • What is a hot wallet
    • What is a watch wallet?
    • What is a multi-sig wallet?
    • What is a hardware wallet
    • What is an extension wallet?
    • What is a passphrase
  • 🔐Security Knowledge
    • Security Measure
      • How to Safely Use Custom Nodes
      • The 'Freezing' Risks of Stablecoins and How to Address Them
      • MEV Protection Tutorial
      • Use the Passphrase feature to create a "Secure Wallet"
      • Hide small transaction records
      • TokenPocket Approval Detector Use Guide
      • Notes on using the third-party DApp.
      • Token Security Detection Function Use Guide
      • Keep your Recovery Phrase and Private Key safe!
      • Pay attention to the tokens and links marked as risky!
      • How to verify whether the wallet is genuine
      • How to verify the real TokenPocket on Google Play?
      • How to verify the real TokenPocket(TP Wallet) on App Store?
      • How to Identify the Authenticity of TokenPocket’s Website and APP?
      • About Approve
      • How to check/cancel Approve?
      • Loss Prevention
      • Theft Prevention
    • Common Fraud Cases
      • Beware of custom RPC node scams
      • Fake Walmart/Amazon Platform Scams
      • Be aware of “0 USDT” transfer scam.
      • Be aware of "Phishing" address.
      • Prevent a new type of token transfer scam
      • Free Recovery Phrase Scam
      • Fake Airdrop/Giveaway Scam
      • Fake QR Code Scam
      • Phishing App Scam
      • Phishing Website Scam
      • Fake Token Scam
      • Fake Customer Service Scam
      • DApp Approval Scam
      • Quick identification of scammers' scams
  • 📨Wallet FAQ
    • BTC Wallet
      • BTC Multi-Signature Wallet Creation Tutorial
      • How to obtain a wallet public key
      • Runes Use Guide
      • What is the Runes protocol?
      • What is Bitcoin ETF?
      • Quick Overview: Bitcoin Ecosystem Protocols
      • The fastest way to transfer BRC-20 assets.
      • How to use BTC Acceleration
      • What is a Partially Signed Bitcoin Transaction (PSBT)
      • What are Bitcoin ordinals?
      • Why is the fee so high for bitcoin transfer?
      • Why does my usdt prompt an address error when I want to transfer to a bitcoin address?
      • Can usdt transfer to my bitcoin address?
      • How many bitcoin addresses can you create in the TokenPocket wallet?
      • Can I create multiple BTC addresses?
      • My bitcoin has been transferred out but the receiver said did not receive, what should I do?
      • Can the TP wallet automatically collect bitcoins?
      • How to choose the best miner's fee for bitcoin?
      • What are the advantages and disadvantages of the bitcoin lightning network?
      • What is the relationship between USDT on BTC and BTC?
      • What is the bitcoin lightning network?
      • Does a bitcoin address have to start with a number?
      • How many bits is the bitcoin address?
      • What is the smallest unit of bitcoin?
      • Will the miner's fee be deducted if the BTC transfer fails?
      • How to export the BTC private key of TokenPocket wallet?
      • What is BTC segwit?
      • Bitcoin transfer is slow, can it be accelerated?
      • How to import the BTC private key into the wallet?
      • How to set the miner fee of BTC?
      • How to transfer BTC to exchange by wallet?
      • How to delete BTC wallet?
      • What if you lose your password to your bitcoin wallet?
      • How to reset the password of bitcoin wallet?
      • What if the BTC private key is lost?
      • How to backup bitcoin private key?
      • The page you were looking for doesn't exist – TokenPocket Help Center
      • How to create a BTC wallet in TokenPocket?
      • How to change the name of bitcoin (BTC) wallet in TokenPocket wallet?
      • Is there a bitcoin browser in the TokenPocket wallet? How to use it?
      • When my TokenPocket wallet APP was disconnected, someone transferred BTC bitcoin to me. Can I receiv
      • Will I lose my bitcoin stored in my TokenPocket wallet? Will my wallet steal my BTC?
      • What coins are on the BTC network?
      • Can I mine BTC bitcoin with the TokenPocket wallet?
      • Will it give me interest if I deposit BTC in the TokenPocket wallet?
      • Where is the price of BTC in TokenPocket wallet displayed according to?
      • About RBF and CPFP
      • FAQs on Bitcoin Wallet
      • What’s the change address
      • What is OP_RETURN?
      • What is UTXO Model?
      • What’s the path
      • What is a public key
      • What is an address type
      • What is Taproot?
      • What's the SegWit
      • What Is BIP-177? A Clear Guide to Bitcoin's Unit Redefinition Proposal
    • ETH Wallet
      • Staking Tutorial
      • What Is EIP-1559?
      • About self-custodial staking
      • About Ethereum staking
      • About Ethereum POS
      • ETH 2.0 Staking Vault Service Agreement
      • Eth2.0 Staking Vault Rules
      • Eth2.0 Staking Nodes List
      • How to retrieve the previous ETH wallet?
      • How to create ETH wallet?
      • Transaction Pending Forever? Here is How You Make it Successful Faster!
      • FAQs on Ethereum
      • What is Token Transfer Approval, and What Risk Does it Involve?
      • How to Use Watch Mode in TokenPocket to Check the Balance in ETH 2.0 Depositing Contract
      • What is ETH Transaction Accelerator?
      • Manage the unpackaged transactions
      • What is Token Approval and How to Grant Token Approval?
      • What is Permit2
      • What is Permit
    • BSC Wallet
      • BSC Wallet Creation/Import Tutorial
      • How to create BSC wallets in bulk
      • How to enable Gas-Free Stablecoin Transfers on the BNB Chain?
      • Beefy.finance Tutorial (BSC)
      • Equator Tutorial
      • Ellipsis Tutorial (BSC)
      • BakerySwap Tutorial (BSC)
      • How to Use DODO
      • Venus User Guide (BSC)
      • How to use PancakeSwap in TokenPocket Wallet
      • How to exchange Binance's BTCB to the wallet for using
      • Export "key" on Binance smart chain wallet
      • How to withdraw BNB to Binance Smart Chain
      • Binance Smart Chain (BSC) wallet registration
      • Master the authorization management authority of DApp (BSC)
    • TRON Wallet
      • How to Use TRON Network Fee Coupon
      • Using energy, lower costs
      • Using USDT as 'Network Fee', No TRX Required
      • How to Save on TRON Transaction Fees When Transferring USDT?
      • How to Create a Tron MultiSig Wallet
      • TokenPocket Energy Rental Service
      • How to create TRON wallets in bulk
      • How to Use TRON Stake 2.0
      • How to acquire TRX tokens.
      • Voting Considerations
      • What is Stake 2.0?
      • How to become a Super Representative (SR)?
      • How to claim voting rewards.
      • How to participate in voting.
      • About Tron Authority Upgrade
      • About TRON Address Activation
      • How to Import a TRON Wallet
      • How to create a TRON wallet?
      • Regarding frozen USDT on the TRON network.
      • About TRON account permissions
    • TON Wallet
      • Overview of TON Wallet
    • FTM Wallet
      • Use TokenPocket wallet to participate in the operations of FTM mainnet
    • Solana Wallet
      • Notes on Solana Transfers
      • Regarding Solana's "Minimum Balance"
      • What is Solana Memo
      • What are Solana transaction fees
      • Associated account of Solana
      • About Solana account permissions
    • Sui Wallet
      • Scallop (sui) User Guide
    • EOS Wallet
      • Related News
      • What Society Says?
      • What Voice Team Says?
      • Apply for a free Voice Beta account
      • FAQs on Voice
      • What is Voice?
      • Register with the email/phone number.
      • About EOS account permissions
    • Aptos Wallet
      • What is a permission change
    • Polkadot Wallet
      • What are Transaction Tips?
    • Multichain-wallet
      • What is a HD Wallet?
      • How to reset your password
      • what is Asset Collection?
      • Guide of Cold wallet
      • About sub-wallets
      • What's the Mnemonic Phrase
      • What‘s the private key
    • Multisig Wallet
      • What is a multi-sig wallet?
      • What is Owners?
      • What is Multisig nonce?
      • How to create a MultiSig Wallet?
      • How to import a MultiSig Wallet?
      • MultiSig Transfer Use Guide
    • AA Wallet
      • What is AA Wallet
      • AA Wallet Create and Import
      • How to use AA Wallet
      • Account Abstraction
  • 🔩wallet operation
    • TP Card
      • TP Card FAQs
      • TP Card Create/Import
      • TP Card Register
      • TP Card Deposit Tutorial
      • TP Card Transfer Tutorial
      • TP Card Profile
      • TP Card Limit Manage
      • TP Card Info
      • TP Card Binding with Apple Pay
      • TP Card Binding with Google Pay
      • TP Card Binding with WeChat pay
      • TP Card Binding with Alipay
      • TP Card Referral Guideline
      • TP Card Commission Rewards
      • Detailed TP Card Fees
    • About NFT
      • NFT skin design competition tutorial
      • NFT Application Specification
      • How to set NFT Asset Card, Receive Background, and Avatar on TokenPocket?
      • NFT application description
    • About DApp
      • How to create DApp List?
      • How to collect DAPP and TIP-001 protocol?
    • How to Create a Wallet?
      • TokenPocket Sub Wallets: Create & Import on BSC, TRON, iOS & Android
      • How to Create and Import Unichain Wallet on TokenPocket? (Mobile & Chrome Wallet Guide)
      • How to Create and Import svmBNB Wallet on TokenPocket? (Mobile & Chrome Wallet Guide)
      • How to Create and Import Berachain Wallet on TokenPocket? (Mobile & Chrome Wallet Guide)
      • How to Create and Import SOON Wallet on TokenPocket?
      • How to Create and Import Eclipse Wallet on TokenPocket
      • How to Create and Import Sonic Wallet on TokenPocket
      • How to Create and Import Peaq Wallet on TokenPocket
      • How to Create and Import World Chain Wallet on TokenPocket
      • How to Create and Import TON Wallet on TokenPocket
      • How to Create and Import RGB Wallet on TokenPocket
      • How to Create and Import Mint Wallet on TokenPocket
      • How to Create and Import X Layer Wallet on TokenPocket
      • How to Create and Import Bitlayer Wallet on TokenPocket
      • How to Create and Import Blast Wallet on TokenPocket
      • How to Create and Import Merlin Wallet on TokenPocket
      • How to Create and Import Kroma Wallet on TokenPocket
      • How to Create and Import ZetaChain Wallet on TokenPocket
      • How to Add and Create Taiko Testnet Wallet on TokenPocket
      • How to Add Blast Testnet Wallet on TokenPocket
      • How to Create and Manage Scroll Wallet on TokenPocket
      • How to Create, Import, and Sync Metis Wallet on TokenPocket
      • How to Create, Import, and Sync BEVM Wallet on TokenPocket
        • FON Smart Chain Use Guide
      • How to Create and Import IOST Wallet on TokenPocket Android( Activation Code Creation)
      • How to Create and Manage IOST Wallet on TokenPocket( Assist in creating)
      • How to Create and Sync Manta Wallet on TokenPocket
      • How to Create and Manage ZKFair Wallet on TokenPocket
      • How to Create and Manage HAQQ Wallet on TokenPocket
      • How to Create and Manage Core Wallet on TokenPocket
      • How to Customize and Manage Zetachain TestNet Wallet on TokenPocket
      • How to Create and Import Polygon zkEVM Wallet on TokenPocket? (Step-by-Step Guide)
      • How to Create and Import opBNB Wallet on TokenPocket? (Step-by-Step Guide)
      • How to Create and Import Base Wallet on TokenPocket? (Step-by-Step Guide)
      • How to Create and Import Linea Wallet on TokenPocket? (Step-by-Step Guide)
      • How to Create and Import Mantle Wallet on TokenPocket? Step-by-Step Guide
      • How to Create and Import Sui Wallet on TokenPocket? Step-by-Step Guide
      • How to Create and Import PulseChain Wallet on TokenPocket
      • How to Create and Import EOS EVM Wallet on TokenPocket
      • How to Create and Import zkSync Era∎ Wallet on TokenPocket
      • How to Create and Import Filecoin FVM Wallet on Wallet
      • How to Create and Import Dogecoin Wallet on TokenPocket
      • How to Add and Import CORE Wallet on TokenPocket
      • How to Create and Import Aptos Wallet on TokenPocket
      • How to Create and Import EthereumPoW (ETHW) Wallet on TokenPocket
      • How to Create and Import EthereumFair (ETHF) Wallet on TokenPocket
      • How to Create and Import Arbitrum Nova Wallet on TokenPocket
      • How to Create and Import ETC Wallet on TokenPocket
      • How to Create and Import HALO Wallet on TokenPocket
      • How to Create and Import GateChain (GT) Wallet on TokenPocket
      • How to Create and Import BitTorrent Wallet on TokenPocket
      • How to Create and Import Conflux eSpace Wallet on TokenPocket
      • How to Create and Import a KCC Wallet on TokenPocket?
      • How to Create and Import a Harmony Wallet on TokenPocket?
      • How to Create and Import a Moonbeam Wallet on TokenPocket
      • How to Create and Import WAX Wallet on TokenPocket
      • How to Create and Import xDai Wallet on TokenPocket
      • How to Create and Import Solana Wallet on TokenPocket
      • How to Create and Import Avalanche Wallet on TokenPocket
      • How to Create and Import Fantom Wallet on TokenPocket
      • How to Create and Import Arbitrum Wallet on TokenPocket
      • How to Create and Import Klaytn Wallet on TokenPocket
      • How to Create and Use Polygon (Matic) Wallet on TokenPocket for Cross-Chain Operations
      • How to Create, Import, and Sync BSC Wallet on TokenPocket
      • How to Quickly Register and Activate EOS Account on TokenPocket
      • How to Create EOS Account with EOS Helper and Import to TokenPocket
      • How to Create and Secure Your TRON Wallet on TokenPocket
      • How to Add and Create Moonriver Wallet on TokenPocket
      • Solana Wallet | Secure SOL Wallet | TokenPocket
    • About Custom Network/Token
      • What is a custom network
      • How to Add Custom Network
      • About Custom Token
      • Design a link to promote your chain
    • How to Trade on DEX?
      • Sonic Bridge User Guide.
      • Four.Meme User Guide
      • Cross-Chain Tutorial for Base Assets
      • Orbiter Finance User Guide
      • Exchange of assets between the EOS mainnet and EOS-EVM
      • Birdeye User Guide
      • Exchange SOL assets using Transit Swap.
      • Orca User Guide
      • jito User Guide
      • Marginfi User Guide
      • Raydium Usage Guide
      • Base Goerli chain and Goerli chain assets are interoperable.
      • SushiSwap on OKChain Guide
      • JustSwap on Tron Gudie
      • PuddingSwap on HSC Guide
      • MDEX on HECO Guide
      • PancakeSwap on BSC Guide
      • Uniswap on Ethereum Guide
      • Transit Swap 2.0 Guide
    • About Protocol
      • About Nostr
    • Profit and Loss Analysis
      • About Wallet Profit and Loss Analysis
      • How to check PnL and Portfolio?
    • TP Tools
      • TokenPocket Nickname System
      • TP Boost Mode
      • Easily manage EOS RAM with TokenPocket!
      • Nostr Assets Batch Transfer Tool
      • Easy Inscription User Guide
      • Magic Eden User Guide (Inscription)
      • EIP-4527
        • How to Use TokenPocket
        • How to Use MetaMask
    • iOS Version Migration Tutorial
    • TokenPocket data backup tutorial (iOS)
    • Give encouragement and feedback to TP Wallet on the App Store.
  • Introducing Our New Official Website: https://tp.xyz – A Smarter Gateway to Web3
  • 🛠️Wallet Management
    • Token Management
      • How to buy crypto in TokenPocket (Web version)
      • How to buy crypto in TokenPocket
      • How to Search Tokens?
      • How to Add Tokens?
      • How to Delete Tokens?
      • How to manage My NFT assets?
      • How to Quickly Swap USDT to USDC or USD1? Learn in 2 Minutes!
    • Wallet Management
      • How to convert MATIC to POL
      • How to Use the Private Wallet?
      • How to use Widgets?
      • How to hide the Wallet?
      • How to Create a Wallet?
      • How to Import a Wallet?
      • How to Manage My Wallet?
      • How to Switch My Wallet?
      • How to Sync a Wallet?
      • What is Nonce?
      • How to use Watch Wallet and Cold Wallet?
      • How to Buy FHE (MindNetwork FHE Token )
    • Blockchain Explorer Tutorial
      • What is Blockchain Explorer?
      • What is Transaction ID (Hash) ?
      • BSC Explorer Tutorial
        • Query transfer records on BSC explorer.
        • Query your assets on BSC explorer.
        • Query the token's information on BSC explorer.
      • TRON Explorer Tutorial
        • Query transfer records on TRON explorer.
        • Query your assets on TRON explorer.
        • Query the token's information on TRON explorer.
      • ETH Explorer Tutorial
        • Query transfer records on ETH explorer.
        • Query your assets on ETH explorer.
        • Query the token's information on ETH explorer.
  • 👾Transfer Tutorial
    • About Safe Transfer
    • Transfer FAQ
      • What if the assets cannot be recovered through guided self-help operation
      • Why can’t I transfer my assets to the contract address?
      • Why can't transfer tokens between different chains?
      • Why did I not receive my funds from the wallet to the exchange?
      • Why did I not receive my funds from the exchange to the wallet?
      • Why does the transfer always keep pending status?
      • Why can't I get my funds back when the transfer was failed?
      • How to Accelerate My Transaction?
      • How to Add Memo When Transferring?
      • How to Cancel My Transaction?
      • How to Transfer Assets to the Wallet/Exchange?
      • How to Receive My Assets ?
      • How to Discover Trending Tokens Using Transit Finance Info
    • TokenPocket Multi-chain Token Batch sender
  • 👨‍💻DEVELOPER
    • How to Submit DApps?
    • How to Submit Tokens?
    • How to submit NFT?
    • How to Submit a Token Logo
    • How to Submit a NFT Logo
    • How to submit public chain?
  • 💻EXTENSION WALLET
    • FAQ
      • Basis introduction
      • Installation Tutorial
      • Use Tutorial
        • How to import/create a wallet in TP Extension Wallet?
        • How to create/import a MultiSig wallet in TP Extension Wallet?
        • How to connect with TP Extension Wallet?
        • How to SWAP on TP Extension Wallet?
        • How to connect to KeyPal?
        • How to connect to Ledger?
        • How to connect to Trezor?
    • Extension Update
      • Version update log (Oct 15, 2024)
      • Version update log(Jan 09, 2024)
      • Version update log(Dec 27, 2023)
      • Version update log(Nov 25, 2023)
      • Version update log(Aug 9, 2023)
      • Version update log(Jun 22, 2023)
      • Version update log(Jun 5, 2023)
      • Version update log(Jun 2, 2023)
      • Version update log(May 19, 2023)
      • Version update log(Mar 5, 2023)
      • Version update log (Mar 1, 2022)
      • Version update log (Nov 4, 2022)
      • Version update log(Aug 26, 2022)
      • Version update log (Jul 13, 2022)
      • Version update log (Jun 8, 2022)
      • Version update log(May 20, 2022)
      • TokenPocket Brand Upgrade
    • Privacy Policy
    • Term Of Use
  • 🪧announcement
    • Announcement
      • Nov 4th, Solana Node Maintenance Completed.
      • Nov 1st, Notice of Solana Node Maintenance.
      • Sept 3rd, Notice Regarding Push Notification Test Anomaly.
      • Mar 20th, Ordinals Node Maintenance completion Notice
      • Mar 19th, Ordinals Node Maintenance Notice
      • Feb 2nd, Arbitrum Node Maintenance completion Notice
      • Feb 2nd, Arbitrum Node Maintenance Notice
      • Jan 11th, Ordinals Node Maintenance completion Notive
      • Jan 11th, Ordinals Node Maintenance Notice
      • Oct 20th, Ordinals Data Maintenance completion Notice
      • Oct 16th, Ordinals Data Maintenance Notice
      • Sept 27th, Notice of the Suspension of Self-built KCC Mainnet Nodes and On-chain Data Services
      • July 3rd, Polygon node is being maintained.
      • Jun 7th, Optimism node is being maintained.
      • Oct 11th, TokenPocket Official Website Maintenance Notice
      • Oct 7th, BNB Chain's maintenance has been completed.
      • Oct 7th, BNB Chain is being maintained.
      • Sept 15th. The Merge is over!
      • Sept 12th. About the Ethereum Merge.
      • Aug 31st, Arbitrum will launch the Nitro technical upgrade.
      • Aug 29th, TokenPocket wallet is being maintained and upgraded.
      • Aug 4th, 2022. The Polygon(Matic) is being maintained and upgraded.
      • Jul 20th, 2022. The BSC and IOST had been maintained and upgraded.
      • Jul 12th, 2022. The TRON will be maintained and upgraded.
      • Jul 11th, 2022. The klaytn had been maintained and upgraded.
      • Jun 1st, 2022. The Optimism node will be maintained and upgraded.
      • Jun 1st, 2022. The Heco chain will be upgraded.
      • May 20th, 2022. The Polygon(Matic) chain will be upgraded.
      • May 18th, 2022. TokenPocket technical service will be maintained and updated!
      • Feb 24th, 2022. iOS New version will adjust some services.
      • Jan 27th, 2022. The service upgrade of TRON.
      • Jan 25th, 2022. Klaytn node is being maintained.
      • Dec 2nd, 2021. EOS node is being maintained.
    • App Update
      • 🆕Version Update Logs (All)
      • Version Update (Sep 26th, 2023)
      • Version Update (Sep 15th, 2023)
      • Version Update (Sep 11th, 2023)
      • Version Update (Aug 20th, 2023)
      • Version Update (Jul 19th, 2023)
      • Version Update (Jul 15th, 2023)
      • Version Update (Jul 1th, 2023)
      • Version Update(Jun 16th 2023)
      • Version Update(Jun 9th 2023)
      • Version Update(Jun 7th 2023)
      • Version Update (Jun 3rd, 2023)
      • Version Update (May 25th, 2023)
      • Version Update (May 23th, 2023)
      • Version Update (May 5th, 2023)
      • Version Update (Apr 27th, 2023)
      • Version Update (Apr 14th, 2023)
      • Version Update (Apr 11th, 2023)
      • Version Update (Apr 6th, 2023)
      • Version Update (Apr 4th, 2023)
      • Version Update (Mar 18th, 2023)
      • Version Update (Mar 11th, 2023)
      • Version Update (Mar 7th, 2023)
      • Version Update (Mar 3rd, 2023)
      • Version Update (Feb 19th, 2023)
      • Version Update (Feb 18th, 2023)
      • Version Update (Feb 17th, 2023)
      • Version Update (Jan 18th, 2023)
      • Version Update (Jan 12th, 2023)
      • Version Update (Jan 9th, 2023)
      • Version Update (Dec 15th, 2022)
      • Version Update (Dec 7th, 2022)
      • Version Update (Dec 5th, 2022)
      • Version Update (Oct 29th, 2022)
      • Version Update (Oct 28th, 2022)
      • Version Update (Oct 14th, 2022)
      • Version Update (Sep 9th, 2022)
      • Version Update (Aug 29th, 2022)
      • Version Update (Aug 18th, 2022)
      • Version Update (Aug 1th, 2022)
      • Version Update (Jul 28th, 2022)
      • Version Update (Jul 11th, 2022)
      • Version Update (Jul 2nd, 2022)
      • Version Update (Jun 30th, 2022)
      • Version Update (Jun 28th, 2022)
      • Version Update (Jun 13th, 2022)
      • Version Update (Jun 8th, 2022)
      • Version Update (May 29th, 2022)
      • Version Update (May 25th, 2022)
      • Version update log(Apr 29th, 2022)
      • Version update log(Apr 13th, 2022)
      • Version update log(Apr 2nd, 2022)
      • Version update log(Mar 11th, 2022)
      • Version update log(Feb 25th, 2022)
      • Version update log(Feb 11th, 2022)
      • Version update log(January 27th, 2022)
      • Version update log (January 17th, 2022)
      • Version update log (December 31st, 2021)
      • Version update log (November 26th, 2021)
      • Version update log (November 5th, 2021)
      • Version update log (October 14th, 2021)
      • Version update log (September 29th, 2021)
      • Version update log (September 18th, 2021)
      • Version update log (September 3rd, 2021)
      • Version update log (August 5th, 2021)
      • Version update log (July 28th, 2021)
      • Version update log (July 7th, 2021)
      • Version update log (June 11th, 2021)
      • Version update log (March 18th, 2021)
      • Version Update (Oct. 30th, 2020)
    • TokenPocket Product Policy Adjustment Instructions
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  1. Wallet FAQ
  2. BSC Wallet

Venus User Guide (BSC)

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Last updated 3 years ago

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About Venus:

Venus is a complete algorithmic cryptocurrency marketplace protocol running on the Binance Smart chain (BSC), designed to provide platform users with a decentralized and secure marketplace to access loans, earn interest and mint synthetic stablecoin VAI. the protocol design is based on the architecture and fork of Compound and MarkerDAO and is synchronized to the Venus platform, combining the two systems’ advantages.

About XVS:

XVS is the platform's native BEP-20 governance token, which is primarily used to participate in platform governance, such as voting on product upgrades, adding new collateral types, adjusting platform parameters, etc. XVS is issued through a fair launch mechanism, with no founder or team allocation, and is backed by a well-funded organization and Swipe's team. 20% of XVS's total $30 million is allocated to the Binance launch pool project, 1% to the Binance smart chain ecosystem, and the remaining 79% all based on liquidity mining, with 35% of the daily rewards allocated to borrowers, 35% to depositors and 30% to stablecoin minting users.

Tutorial:

1: Launching Click the【Discover】in TokenPocket Wallet (BSC) and type Venus on the top of search bar to launch it.

2: Deposit The first thing you see when you open it is the number of XVS and VAI I have, and the yellow section is my borrowable amount. Down the page you can see some data on the lending market, such as currency prices, number of deposits, total amount borrowed, annualized lending, etc. You can click to select the currency market information you want to view.

You can make a deposit in the 【Supply Market】 section and see the APY for each currency. Here I chose to deposit USDT and can see that the current APY for USDT deposits is 5.02% and the APY for XVS mining is 6.13%. The first time you deposit, you need to click 【Enable】 to authorize, you need to pay a small amount of BNB gas fee, then enter the amount and click【Supply】 to deposit successfully.

After a successful deposit your balance and interest APY will be displayed. When you turn on the button at the top of the page, it shows the interest plus mining’s APY. When you turn off the button, it only shows the APY from interest.

3: Loan The loan starts with a deposit and requires users to turn on the 【Collateral】button to do next step. When the deposit is enabled, vTokens credentials are obtained, which can be used to lend or issue stablecoins. The maximum loan amount available for deposits is 1:0.6. For example, a deposit of 10U in a deposit currency can be loaned up to 6U in any other currency. Firstly, click the button and use USDT as collateral, then click the 【Borrow Market】section to make a loan, you can see the loan interest rate and the number of liquidity pools for each currency, here I have chosen to loan USDC as an example.

Click on ‘SAFE MAX’ and the system will automatically enter the maximum number of safe loans, the general ratio is 1:0.25, I deposited 50U, so the safe number here is 12, of course, we can enter the number of loans more or less than the safe value, but the maximum will not exceed 50 * 0.6U = 30U. I entered 30 here, you can see that my loan amount has reached 99.9% maximum.

The higher the number of loans, the less secure it is and the more likely it is to be liquidated.

Liquidation: A user's collateral may be liquidated if it falls below the threshold required for borrowing or stablecoin in a particular currency market. These liquidations entail payment of liquidation fees and repayment of outstanding debts, with the remaining collateral (if any) then reverting to the user. The main risk of liquidation arises from the total value of collateral assets and the total value of loan assets, the higher the risk of being liquidated when the total value of pledges falls (falling prices of collateral currencies) or the total value of loans increases (rising prices of loan currencies). Liquidation risk can be reduced by increasing collateral or by early partial repayment.

4: Repayment

Open【Repay Borrow】 to make repayments. To make your first repayment, click on【Enable】 to authorize, then enter the amount to be repaid and the interest rate, and click on 【Repay】

5: Stake and Mint Stablecoin VAI

The Venus protocol allows users to use v-tokens of the underlying collateral they previously provided to the protocol to mint and issue of VAI, which is a 1:1 on-chain pledge-based stablecoin anchored to USD. The concept that users can pledge assets in the Venus protocol to generate USDE is similar to a home mortgage. In this analogy, Venus is like a bank, the assets staked by users are like a property, and the VAI generated is like the fiat currency that the user loans away, which can be used to make loans and swap for other currencies.

Users issue VAI by staking deposits and also receive XVS rewards.

First open【Mint/Repay VAI】 in the lending market and enter the number of VAI to be minted, there is also a safe value and a maximum value to be minted, same as the loan amount above, my previous deposit voucher was 50U, so the default safe value is 12U and the maximum can be minted is 30U. Minting is done for a small BNB gas fee.

The minting of VAI creates debt and is also subject to the risk of liquidation, mainly through a fall in the total value of collateral assets or an appreciation in the total value of the VAIs issued, which can be mitigated by increasing the collateral or repaying part of the VAI.

6: Repay VAI

Click on Repay at the bottom of the page to make repayments. You will need to authorise your first repayment, then enter the number of VAI to be repaid and click on 【Repey VAI】 to make the repayment. Once the VAI has been repaid, you will receive the appropriate amount of credit.

7: Voting

Venus is designed for community autonomy, with no pre-determination by the team, developers or founders, the protocol will be executed by the proposal of those holding XVS tokens. Users holding XVS will receive votes corresponding to them, and these votes can be allocated to themselves, or they can fill in someone else's address to have someone else vote by proxy.

8: Collect Mining Rewards

Click 【Vote】 on the top right of page, you can see your XVS token balance, XVS earnings from borrow mining and from minting VAI. Use【Collect】 button to get XVS rewards.

You can see your 【Voting Weight】 at the bottom of the page, click on 【Get Started】to vote, there are 2 modes of voting: Mannual Voting is to vote for your own proposal; Delegate Voting is to let someone else vote by proxy, you only need to fill in the address of another person, no XVS transfer is involved.

Proposal: You can create your own proposal by clicking on [Create Proposal]. Proposers need to have at least 300,000 XVS and the proposal must have a minimum of 600,000 XVS to be approved.

This tutorial is only for the DApp in the wallet side of the operation guide, does not represent the investment advice of TokenPocket. Investing involves risks, you should be fully aware of the risks and make your own investment decisions.

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