Taking a bnUSD loan on Balanced (minting bnUSD) puts your collateral to work. With your XLM's value backing your loan you can hold your Lumens while unlocking some of its value as liquid stablecoins that can be spent however you want. Not only that, but with Hana Rewards, it also earns you XP for Stellar season!
💰 How much bnUSD are you going to mint? Each bnUSD will earn you 2XP per day!
Step-by-step instructions to mint a bnUSD loan with SUI collateral
1. Find the relevant task
Navigate to the season/task that is asking you to Mint a bnUSD loan using XLM collateral.
2. Check wallet connection
Check that Hana wallet is logged in and open on the wallet you have connected to Hana rewards, and wish to use for this task.
3. Head to Balanced
Under the title of the task, click Go to the Balanced app.
This will take you to the Balanced homepage, where you should have already deposited collateral.
💡 You must have deposited collateral in order to take a loan, find out how in our article here.
4. Connect to Balanced
In the top-right corner, click Sign in.
Scroll down and click Connect wallet next to Stellar.
Select Hana on the following screen.
This will connect Hana wallet to Balanced for Sui.
5. Select loan destination
The top right modal of the Balanced homepage, entitled Loan, allows you to choose which blockchain to take/repay your loan on.
Select Stellar as the destination blockchain for your loan in the drop-down menu.
6. Select collateral amount
In the loan modal, click Borrow.
Use the slider or manually enter the amount of bnUSD you wish to borrow against your deposited collateral.
Click Confirm.
💡 You must borrow at least 10 bnUSD in order to take a loan.
🛑 Check your Risk Ratio to stay safe of liquidation. Below the loan modal, you will see your risk ratio. This will include the prices that your collateral asset would have to reach in order to lock and/or liquidate your position.
7. Confirm collateral deposit
In the following screen, confirm your selection, fees and ongoing interest rate.
Click Borrow.
💡 Balanced has the leading rates for cryptoasset loans. Offering bnUSD loans with a 2% interest rate and only a 0.02% initiation fee.
8. Sign the transaction
In the Hana wallet window that appears, click Authorize to confirm the transaction.
You have successfully minted a bnUSD loan on Sui.
🏆 You will earn 2 XP per day for every 1 USD of value borrowed as bnUSD.
❕ XP will be updated once per day, this will not be a live figure.
Need Help?
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