RivrDoge: Loan Shark Edition
The RivrDoge Team would love to welcome their newest friend, Neku Finance, to Moonriver. Neku Finance is a Lending/Borrowing and Liquidity Mining Protocol on Arbitrum and Moonriver.
How Does Neku Finance Work?
We’ve had a few people ask how Neku Finance works. You should always do your own research to decide where you want to store your tokens, but if you’ve decided to use Neku Finance, we’ve prepared this walkthrough.
There are a lot of options on Neku Finance, but generally, you lend your RivrDoge and receive nRivrDoge, which you can stake for liquidity mining.
First, visit Neku.io and unlock your wallet while logged into Metamask with a Moonriver RPC.
Scroll down to RivrDoge and click supply. Also notice that our good friends MoonBeansToken are here too!
You will next need to select the amount of RivrDoge you want to supply and enable the contract to spend your RivrDoge.
After it is enabled, click supply again and confirm that transaction in your wallet. After the transaction is confirmed you will see a “minting” transaction as Neku Finance is minting your nRivrDoge.
After you’ve minted your nRivrDoge, you can check the box to permit Neku Finance to use your RivrDoge as collateral to borrow other coins. Please note that using your assets as collateral can cause your assets to be liquidated! For now, we don’t want to risk losing our precious RivrDoge, so we will move on to Staking our nRivrDoge!
Once the minting process is done, if you want to see your nRivrDoge in your wallet, the easiest way to get the contract number is to click that transaction and click on “nRivrDoge” and copy the contract number.
Next click the hamburger button and “Farm.”
Finally, you can pick between staking nRivrDoge for a 7-day lock period (which has a 5% penalty if you withdraw before 7 days) or a non-locked version at a slightly lower interest rate! Approve and stake, just like any other single-stake farm.
RivrDoge Smart Contract on MoonriverNW: 0x5D4360f1Be94bD6f182F09cFE5EF9832e65EB1ac