Opening a Vault
On "My page" of Pando Leaf, click on "Add a value" to create a vault and then select from the list from the available vault types according to your needs.
- Click on "+" and you will land on the page to create a specific vault.
- On the corresponding minting page, respectively fill in the amount of the asset you intend to deposit and the amount of the asset you wish to generate
- Click on the button "Deposit to Generate" , make the payments,and allow for some time for the robot to process.
You have to keep your collateralization ratio in a safe rangeto avoid liquidation. When your collateralization ratio breaches the liquidation ratio, your collaterals will be in auction.
- Open a vault and mint for the first time, minting at least 100 pUSD.
- Do pay attention to the risk indication bar when you mint pUSD.
Paying Back pUSD
Paying back pUSD is useful when wanting to save a vault from being liquidated, or the vault owner wants to decrease the size of their position or to free up the collateral.
To pay back, click on "Pay back" to land on the Pay Back page. Fill in the amount you intend to pay back manually or click "Set Max" to pay off all the debts.
Please be noted that when you click "Set Max", you will be charged slightly higher than the outstanding debt amount to successfully pay off the debt because the interests are calculated and added to the debt real-time. Any excess amount after the payment will be returned to your wallet.
Adding collateral is useful in two scenarios. The first is when a vault is coming close to being liquidated, adding collateral can save the vault.
The second is when a vault owner wants to increase their capacity for minting pUSD, adding collateral will increase the maximum amount of pUSD that can be generated.
To add collateral, click on "Deposit" and fill in the intended amount on the Deposit page. And then enter the quantity of collateral you want to add and click Deposit.
Mint More pUSD
To mint more pUSD, click on "Generate" and fill in the amount you want to mint on the mint page.
To withdraw collateral from a vault and return it to the wallet, click "Withdraw" to proceed. Enter the amount you want to withdraw, click withdarw, and Enter PIN, the collateral reduce.
Please be noted that withdrawing collateral without first paying back your generated pUSD will result in a lower collateralization ratio and putting the vault at higher risk for liquidation.
Participating in the Auction
You can go to "Auction" page to participate in auctions and check on the information of the past auctions. Ongoing auctions are in the "Ongoing"(at Auction) tab. If there are no auctions in progress, you will see pic of blank state.
For an active auction, there are two phases.
For Phase 1
Participants bid at an increment of not less than 3% of the previous bidding amount to cover the highest amount of the outstanding debt.
If within the limit of 12 hours, no one is willing to cover the total debt, or within half an hour after one bid, no one else bid, the auction is over and the bidder who is willing to cover the highest amount of the debt will take all of the collateral home. Or if there is someone who bids to cover the total debt, then the auction will move to the second phase.
For Phase 2
Participants bid at a decrement of no less than 3% of the previous bidding amount on accepting the smallest part of the collateral for the payment of the total debt.
The winner will need to pay off all the debt in exchange for the smallest amount of the collateral that (s)he subtmits the bid for.