RubixDao
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Quick guide
When you enter in to the dApp you can’t make any interactions, only view pages untill you connect your wallet.
Please note that the below process is also applicable to the mainnet dApp.
1. How do you connect your wallet?
There are 3 buttons in total where you can connect your wallet. In the menu, onboarding page and the staking page. When trying to connect your wallet for the first time a popup will appear from Lamden telling you: To interact with Rubix DAO, you need to create a linked account. follow these steps and it will create an account for you. After doing this you can see your created account in your lamden extension for Rubix DAO. The next time you enter the dApp and click connect your wallet, it will connect instantly because you created an account earlier.
2. How do you create a vault?
To create a vault, you must be connected to your wallet. You will see a button on the onboarding page with ‘Create vault’ when you press it, the create a safe popup will appear. If your wondering how the calculations are made for example the
Liquidation Price or the max TAD$ you can borrow. You can find all the calculations in the FAQ section. After you choose the amount you want to loan, press the Review transaction button. This will take you to the confirmation screen with all the details about the vault you just setup. After you created the vault it will show the vault on the vault page.
3. How can you create a vault with decimals - for example 100.22 TAU?
You can’t, Lamden won’t allow decimals. When you create a transaction with decimals as an amount for example
100.22 , it will either remove the decimals for you and still proceed the transaction but with less i.e. 100 , or when using an amount of 100.50 it will use 101 instead.4. How would you know if your vault is being liquidated or not?
When you visit your vault there is a transaction history down below. And it will show you if your being liquidated or not.
5. How do you stake?
In the menu you can navigate to the staking page. You will see your balance, claim balance and the current Fixed APY. You can stake with your TAD$ Balance that you will receive from creating a vault.
6. When will my vault be liquidated?
If you navigate to your vault you will see a liquidation price. If the TAU price is higher or equal to the liquidation price, the vault will be marked as
Can be liquidated and your vault will be send to the auctions page. For the community to bid or instantly close the vault and take the rewards.7. How do you liquidate a vault?
In the menu you can navigate to the auctions page, here will be all the vault’s that are possible for liquidations. When you click on a vault a modal will open with all the details about the vault and it will give 2 options either:
Instantly close the vault for borrowed TAD and 103% of the TAD's value in collateral will be given to the user - the remainder will be returned to the original owner or User starts an auction, and people can bid on the auction after 72 hours the highest bidder can claim their rewards and the users that bid under the highest bidder can unclaim their bid. If there are no further bids during the 7 days, the auction will still remain but the first bidder will receive the claim button after their bid to claim the rewards.When a auction is over (completed) it will be removed from the auctions page.
8. Why are the buttons greyed out on the auctions when trying to liquidate a vault?
The system checks for you, if you have sufficient balance to open an auction or instantly close the vault. if you don’t have enough balance, it will be greyed out otherwise it will be the rubix gradient colour.
9. How does a bid auction work?
When a user chooses for an
auction everyone can start making bids for this auction. You will see a timer of 7 days and next to it the highest bid amount for the vault. After 72 hours the highest bidder can claim their rewards. And the users who participated but were under the highest bid can unclaim their bid. If all the bids are claimed the vault will be removed from the auction page.
Last modified 6mo ago
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