Reaching DeFi’s Summit with Davos: Your Ultimate Guide to Using DUSD

Welcome to the next expedition to the DeFi 2.0 frontier! We are here to support your journey, helping you get through valleys and peaks to reach the Davos Summit!

Just as climbers tackle the world’s highest mountains, equipped with the right gear and knowledge, we invite you to ascend the heights of the DeFi ecosystem using our stablecoin, DUSD.

This guide will be your compass, helping you navigate through various levels of using DUSD, ensuring that rewards are unlocked on each step. Let’s start our climb to financial empowerment together!

Peak 1: Minting DUSD for Usage

This is the ground level. Minting DUSD is your first step towards leveraging the Davos platform and beginning the climb. In order to make use of Davos collateralized debt position mechanism, follow these simplified steps to get DUSD:

1. Provide Collateral: Navigate to the Mint page on our dApp. Click on the ‘Mint’ button next to your preferred collateral type.

Davos dApp Dashboard Page UI (Source)

2. Input Amount: Enter the amount you wish to mint in the ‘Deposit Collateral’ input field on the Mint tab.

Davos dApp Mint tab for wstETH (Source

3. Approve Transaction: Click on ‘Approve’ and confirm the transaction in your wallet.

4. Deposit and Mint: After approval, press ‘Deposit’ and confirm the minting operation in your wallet.

5. Confirmation: Once the transaction completes, click ‘OK’ to finalize your DUSD minting process.

Also note that you can choose to use our Flash Mint feature. Flash Mint allows users to mint DUSD with the condition that they borrow and pay back their loan in a single transaction with a 0.1% Flash Mint Fee. For more info on Flash Mint and how it works, check out our documentation:

-> Flash Mint Feature on Davos Protocol

Peak 2: Leveraging DUSD Across Multiple Chains

We are now on our way to the top, but first, we need to move through different valleys and peaks, each representing a different blockchain. To expand your horizons, bridge DUSD across multiple blockchain networks. Here’s how to do it:

1. Access the Bridge: Visit the Bridge page on our dApp.

Bridge Page on Davos dApp (Source)

2. Select Network and Amount: Choose the direction for bridging and switch networks if necessary. Enter the amount of DUSD in the ‘Token Amount’ input field.

3. Approval and Send: Press ‘Approve’ and confirm in your wallet, followed by ‘Send’ to initiate the bridging.

4. Network Switch and Claim: After transaction completion, switch networks if needed, press ‘Claim’, and confirm in your wallet.

Bridge process on Davos dApp (Source)

5. Completion: Hit ‘Close’ once the DUSD is claimed. Now you can leverage and participate in different networks and defi projects for increased returns!

Peak 3: Staking DUSD in the Savings Rate

The sun is setting, meaning it is time to set up camp and rest for the night. As we look for flat and stable terrain to set up our tent, we will be leveraging DUSD to help us. By staking DUSD in the Savings Rate we can achieve stable returns. Here’s how:

1. Navigate to Earn: Go to the Earn page on our dApp.

2. Deposit DUSD: Click the ‘Deposit’ button on your chosen Savings Rate option to start earning interest.

All DUSD Savings rate Options on the Davos dApp (Source)

3. Enter Amount and Approve: Input the desired DUSD amount and press ‘Approve’, then confirm the action in your wallet.

4. Deposit and Confirm: After approval, press ‘Deposit’, confirm the transaction in your wallet, and click ‘OK’ once completed. And that's it, you're now Yield Farming stable and predictable rewards.

Transaction Complete Page for DUSD Staking (Source)

Peak 4: Reaching New Heights - Yield Farming with DUSD

We finally reached the summit, but there is still one final step. It is time to place the Davos flag and start maximizing earnings through yield farming with DUSD. Here’s your guide to start earning rewards on decentralized exchanges - DEXs:

1. Visit Earn Page: Explore different yield farming opportunities on various decentralized applications - dApps by visiting the Earn page.

2. Select Farming Opportunities: Choose between stable and concentrated liquidity pools (LPs) from different Defi protocols for maximized reward opportunities.

All Defi protocols/opportunities on the davos dApp to leverage DUSD (Source)

3. Engage in Yield Farming: Follow the respective protocols’ instructions to start farming with DUSD for higher potential rewards. For example, take part in the ongoing Linea's The Surge campaign for further extra rewards.

For more details on The Linea Surge campaign, check out our post about it:

-> Davos and Linea join forces for The Surge

Reaching New Heights with DUSD

Remember that each level you’ve ascended equips you with more tools and knowledge to maximize your potential within the DeFi space. Begin exploring DUSD and how it can enrich your journey, providing a stable and versatile foundation for your growing portfolio.

Let’s continue to climb the peaks of financial innovation together. Join Davos today, mint DUSD, and reach the greatest heights possible.