Babel Protocol Tutorial

Download and Install Metamask

1. You must download Metamask on Google Chrome explorer：https://www.google.com/intl/zh-CN/chrome/
2. Download and install MetaMask：metamask-chrome-9.4.0.zip

3. Create or import an account

Deploy BSC Network in Metamask extension

1. After installing MetaMask extension, click “Extension” open Metamask and select Custom RPC to add custom network.

2. Fill in the following information in the MetaMask pop-up:

For BSC Main Network：

• Network Name：BSC Main(Custom)
• New RPC URL: https://bsc-dataseed1.binance.org/
• Chain ID：56

For BSC Test Network：

• Network Name：BSC Test(Custom)
• New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545​
• Chain ID：97

Get BNB test token: https://testnet.binance.org/faucet-smart​

Deploy Network in BABEL

1. Select “BSC Main” to deploy in Matamask

1. Select “BSC Main” on BABEL platform (babel.fi)

2. “Wallet Connected” will pop up, and then all BABEL functions are available.

*Reminder: Please keep your wallet connected to “BSC Main”.

Create Vault

1. Click “Create Vault” and fill in the amount of deposit asset, the “Debt” is a system-limited minimum debt quantity, it’s allowed to input manually.

* Please ensure your “Collateral Ratio” higher than 110% to keep safe from your vault being liquidated, If the “Collateral Ratio” is lower than 110%, Vault cannot be created.

2. Click “Create Vault”, confirm the transaction on your wallet.

3. Waiting for Network confirmation, then the Vault is created.

4. You can view more details of your current deposit and debt, and check “LAI” Debt in your wallet.

*Received LAI Debt quantity includes deducted fees and reverse.

Continue to Deposit

1. Click “Deposit” and fill in the deposit amount in the pop-up

*Depositing assets will increase your borrowing quantity that is available to borrow.

2.Click “Next”, confirm the deposit data.

3.Confirm the transaction in your wallet.

4. After the network confirmation, assets deposited.

Continue to Borrow

1. Click “Borrow”, input the LAI amount you wish to borrow.

2. Click “Next”, confirm the debt data.

3. Click “Confirm”, confirm the transaction in your wallet.

4. After the network confirmation, then the LAI borrowed. Please check more details in your wallet.

Repay LAI

1. Click “Repay”, input the repay amount.

*The system-limited minimum debt amount for BABEL is 200LAI, you have to retain 200 LAI in your account when repaying; If you want to repay all LAI debt and withdraw deposited BNB you can choose to”Close Vault”.

2. Click “Next” and confirm in your wallet, then debt repaid.

Close Vault

1. Click “Close Vault”, all your debt will be repaid, as well as deposited BNB will be withdrawn to your wallet account

*Please keep sufficient LAI in your wallet to repay LAI debt.

2. Click “Confirm”, confirm the transaction in your wallet.

3. After the network confirmation, Vault is closed.

Done！

You now have LAI to stake on the pool.

Stability Pool

Stake

1. Click “Stability Pool” and input the amount you wish to stake.

2. Confirm the transaction in your wallet.

3. After the network confirmation, LAI is staked.

4. Back to the page of “Stability Pool” to view the current staked data.

Unstake

1. Click “Unstake LAI” and input the unstake amount or click the quick button.

2. Click “Confirm” and confirm the transaction in your wallet.

3. After the network confirmation, “Unstake” LAI success.

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