How To Oolong Bonds- Step by Step Tutorial
Oolong Bonding is here — launching on January 21st 3pm UTC! The buzz has been getting louder and I’m so excited for a successful launch — we’ve been looking forward to it for sooooo long!
I wanted to give you a quick walkthrough guide since some of you may have never bonded before and it can be a little confusing the first time. Thankfully, we’ve made a few changes to the classic bonding process which should make everything quick and easy for you 😊
Please note that all screenshots are from testnet, so what you see on launch day may be slightly different. The values seen here are for demonstration purposes only.
Before you start:
(1)Whitelisted users will have 24 hours to purchase the bonds before non-whitelisted users can buy.
(2) Please note that the maximum purchase amount PER TRANSACTION will be 5% of the total bond supply released, meaning 5% of $100,000 (this applies to both whitelisted and non-whitelisted users).
- Get your bond collateral ready, either USDC or USDC-OLO LP (you can swap for USDC on OolongSwap and provide LP at https://oolongswap.com/#/pool)
- Go to the “bond” tab when the bond supply is released on January 21st 3pm UTC. We’re expecting high demand so don’t delay, but if you miss out on the first round there will more opportunities in the future as we grow our PCV over time.
3. Locate your bond collateral and click bond. There will be TWO transactions — one to approve, and one to bond & stake.
4. Before you bond, pay close attention to the ROI! In this example screenshot, the ROI is negative, so you’d actually be paying a PREMIUM to bond instead of receiving a DISCOUNT. Make sure to compare the OLO Market Price with the Bond Price and double-check that the ROI is POSITIVE so you know you’re receiving a good deal!
5. Once both transactions have been confirmed, you’re done! Your OLO will be automatically staked in the YOLO staking pool and you’ll begin earning that sweet interest immediately!
And that's it, simple as that! If you have any questions, please reach out on Twitter or join us in Discord or on Telegram!
OolongSwap is the biggest DEX on Boba Network, a layer-2 Ethereum scaling solution. As Boba’s first native AMM, it is Oolong’s mission to create the best exchange, best user experience, and deepest liquidity on Boba as our motto is “more to earn, less to spend”. Aside from the regular DEX features, we have also introduced features such as dynamic pair fees to offer users lower trading slippage, multea farm for users to earn double the rewards with the same investment capital and PCV and bonding to offer a sustainable future for Oolong. Our vision is to become the gateway between Boba and the rest of DeFi world, expanding the Boba ecosystem and help new and experienced DeFi users alike find their crypto home.