Vault and loan with CLI
Based on the information provided in Vaults and Loans, this guide will describe all steps on how to generate a DFI only vault to mint some dUSD to profit from the negative interest rate.
Key learnings
- Set up a wallet on the Testnet and ensure that it has enough DFI for the vault creation process
- Use the CLI to create a new vault and deposit DFI into it
- Use the CLI to estimate and take out a dUSD loan from the vault
- Check the status of the vault and loan using the CLI
- Repay the loan and close the vault using the CLI
Preparations
- Ensure that your wallet has at least 2 DFI available for the vault creation.
- 1 DFI is burned during creation, the other one is paid back when the vault is closed.
- Unlock your wallet
- Navigate to the CLI within the Desktop Wallet.
The CLI is very fragile when it comes to spaces within the commands. It is recommended to remove spaces wherever possible.
Let's start with a new wallet on the Testnet filled with 1000 DFI from the Testnet faucet.
listaddressgroupings
Expected output
[
[
"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
1000.0,
"main"
]
]
]
Vault creation
To generate a new vault, the command createvault "ownerAddress" ("loanSchemeId") is used.
For a list of all available schemes, call listloanschemes.
In this example we use the default loan scheme MIN150 so we just specify the account address. transaction
createvault tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH
Expected output
40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b
The transaction ID is automatically the vaultid.
Next, get a list of all vaults within the wallet.
listvaults {"ownerAddress":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"}
Expected output
[
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"loanSchemeId": "C150",
"state": "active"
}
]
Or directly call getvault "{vaultId}" with the provided transaction ID of the vault creation step
getvault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b"
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [],
"loanAmounts": [],
"interestAmounts": [],
"collateralValue": 0,
"loanValue": 0,
"interestValue": 0,
"informativeRatio": -1,
"collateralRatio": -1
After vault generation, the balances might have been transferred to another address within the wallet.
listaddressgroupings
Expected output
[
[
[
"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
0,
"main"
],
[
"tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB",
998.99999823
]
]
]
Vault DFI deposit
Next, deposit some DFI into the generated vault.
Only tokens can be deposited into the vault, so transfer UTXO to token if needed using the command utxotoaccount {"address":"amount@token"}. transaction
utxostoaccount {"tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB":"500@DFI"}
Expected output
a80da68afc050a0671dd712dd64c044b9416650081f586c6ac13710c1e7ddc55
waitfornewblock
Then deposit the DFI in the vault with the command deposittovault "vaultId" "fromAddress" "amount". transaction
deposittovault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB 500@DFI
Expected output
1d025f1db8eccb9b69b0afc0f98ab576d3c7f43728bf889e048bac08db464687
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
...
"collateralAmounts": [
"500.00000000@DFI"
],
...
Vault dUSD loan
Now we are eligible to take a loan out of the vault.
Estimate loan
For the case you like to take as much dUSD as possible out of your vault, use the estimateloan "vaultId" {"split":n} targetRatio command.
Here as an example with a split into 100% dUSD token and a collateral of at least 150% (the minimum of the chosen loan scheme).
estimateloan "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" {"DUSD":1.0} 150
Take dUSD loan
With the command takeloan {"vaultId":"hex","to":"address","amounts":"str"} the loan can be taken from the vault. transaction
takeloan {"vaultId":"40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b","to":"tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB","amounts":"100@DUSD"}
Expected output
5d30554b48cff80bd7937b87ae4ae2606a5c7e20902ccead6909a29ec9567fa2
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [
"500.00000000@DFI"
],
"loanAmounts": [
"99.99981926@DUSD"
],
"interestAmounts": [
"-0.00018074@DUSD"
],
"collateralValue": 233.919545,
"loanValue": 99.99981926,
"interestValue": -0.00018074,
"informativeRatio": 233.91996778,
"collateralRatio": 234,
"nextCollateralRatio": 233,
"interestPerBlockValue": "-0.000090372907153729071537",
"interestsPerBlock": [
"-0.000090372907153729071537@DUSD"
]
}
Loop dUSD loan
If you just want to profit from the negative interest rate, the taken loan dUSD tokens can be deposit back into the vault as additional collateral. transaction
deposittovault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB 100@DUSD
Expected output
b6dbb4bba4ec83eda09daf531d1968d4194ca39ba7273f471dd7a14303a991b9
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [
"500.00000000@DFI",
"100.00000000@DUSD"
],
"loanAmounts": [
"99.99954814@DUSD"
],
"interestAmounts": [
"-0.00045186@DUSD"
],
"collateralValue": 353.919545,
"loanValue": 99.99954814,
"interestValue": -0.00045186,
"informativeRatio": 353.92114422,
"collateralRatio": 354,
"nextCollateralRatio": 353,
"interestPerBlockValue": "-0.000090372907153729071537",
"interestsPerBlock": [
"-0.000090372907153729071537@DUSD"
]
}
As seen in the result, we get already our first negative interest onto the dUSD loan, so the payback amount is not 100DUSD anymore.
Payback Loan
Because we deposit the loan dUSD tokens into the collateral, we should first pay back the dUSD loan with our dUSD collateral.
To do so, use the command paybackwithcollateral "vaultId". transaction
paybackwithcollateral "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b"
Expected output
7c333e497779e1dc63c578a8ff29591def8933219f90354a67c4ff0751779e3c
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [
"500.00000000@DFI"
],
"loanAmounts": [
"30.87450689@DUSD"
],
"interestAmounts": [
"-0.00002790@DUSD"
],
"collateralValue": 234.14012,
"loanValue": 30.87450689,
"interestValue": -0.0000279,
"informativeRatio": 758.36067871,
"collateralRatio": 758,
"nextCollateralRatio": 758,
"interestPerBlockValue": "-0.000027902214659912480974",
"interestsPerBlock": [
"-0.000027902214659912480974@DUSD"
]
}
Pay the remaining dUSD loan back with dUSD tokens from the wallet using the command paybackloan {"vaultId":"hex","from":"address","amounts":"str"}
Hint: It's save to define an amount which is higher than the collateral transaction
paybackloan {"vaultId":"40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b","from":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH","amounts":"31@DUSD"}
Expected output
617a5e26b231c9fd80ce2c882abd3f22a5d755140ba2b1deb4c2883b2f9bf4d0
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [
"500.00000000@DFI"
],
"loanAmounts": [],
"interestAmounts": [],
"collateralValue": 234.14012,
"loanValue": 0,
"interestValue": 0,
"informativeRatio": -1,
"collateralRatio": -1,
"nextCollateralRatio": -1,
"interestPerBlockValue": "0.000000000000000000000000",
"interestsPerBlock": []
}
Withdraw Collateral
Withdraw the DFI collateral with the command withdrawfromvault "vaultId" "toAddress" "amount".
In case the vault gets closed afterward, this step can be skipped because the closevault command automatically send all remaining collateral to the specified address.
withdrawfromvault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH" "500@DFI"
Expected output
de1a5206cad6bdac8c75051594f7196a1452f6352de34f0e757b0d11eb30878b
waitfornewblock
getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true
Expected output
{
"vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
"loanSchemeId": "C150",
"ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
"state": "active",
"collateralAmounts": [],
"loanAmounts": [],
"interestAmounts": [],
"collateralValue": 0,
"loanValue": 0,
"interestValue": 0,
"informativeRatio": -1,
"collateralRatio": -1,
"nextCollateralRatio": -1,
"interestPerBlockValue": "0.000000000000000000000000",
"interestsPerBlock": []
}
Close the vault
Optionally close the vault with the command closevault "vaultId" "toAddress". transaction
closevault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"
Expected output
119dbe51114add775ab3ad7f1e7dd1cc44223d5798b0e0f5e37f427149862bb4
waitfornewblock
listvaults {"ownerAddress":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"}
Expected output
[]