Vault and loan with CLI

Based on the information provided in Vaults and Loans, this guide will describe all steps on how to generate a DFI only vault to mint some dUSD to profit from the negative interest rate.

Key learnings

• Set up a wallet on the Testnet and ensure that it has enough DFI for the vault creation process
• Use the CLI to create a new vault and deposit DFI into it
• Use the CLI to estimate and take out a dUSD loan from the vault
• Check the status of the vault and loan using the CLI
• Repay the loan and close the vault using the CLI

Preparations

• Ensure that your wallet has at least 2 DFI available for the vault creation.
  • 1 DFI is burned during creation, the other one is paid back when the vault is closed.
• Unlock your wallet
• Navigate to the CLI within the Desktop Wallet.

caution

The CLI is very fragile when it comes to spaces within the commands. It is recommended to remove spaces wherever possible.

Let's start with a new wallet on the Testnet filled with 1000 DFI from the Testnet faucet.

CLI Command

listaddressgroupings

Expected output

  [
    [
      "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
      1000.0,
      "main"
    ]
  ]
]

Vault creation

To generate a new vault, the command createvault "ownerAddress" ("loanSchemeId") is used.

For a list of all available schemes, call listloanschemes.

In this example we use the default loan scheme MIN150 so we just specify the account address. transaction

CLI Command

createvault tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH

Expected output

40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b

tip

The transaction ID is automatically the vaultid.

Next, get a list of all vaults within the wallet.

CLI Command

listvaults {"ownerAddress":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"}

Expected output

[
  {
    "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
    "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
    "loanSchemeId": "C150",
    "state": "active"
  }
]

Or directly call getvault "{vaultId}" with the provided transaction ID of the vault creation step

CLI Command

getvault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b"

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [],
  "loanAmounts": [],
  "interestAmounts": [],
  "collateralValue": 0,
  "loanValue": 0,
  "interestValue": 0,
  "informativeRatio": -1,
  "collateralRatio": -1

After vault generation, the balances might have been transferred to another address within the wallet.

CLI Command

listaddressgroupings

Expected output

[
  [
    [
      "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
      0,
      "main"
    ],
    [
      "tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB",
      998.99999823
    ]
  ]
]

Vault DFI deposit

Next, deposit some DFI into the generated vault.

Only tokens can be deposited into the vault, so transfer UTXO to token if needed using the command utxotoaccount {"address":"amount@token"}. transaction

CLI Command

utxostoaccount {"tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB":"500@DFI"}

Expected output

a80da68afc050a0671dd712dd64c044b9416650081f586c6ac13710c1e7ddc55

CLI Command

waitfornewblock

Then deposit the DFI in the vault with the command deposittovault "vaultId" "fromAddress" "amount". transaction

CLI Command

deposittovault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB 500@DFI

Expected output

1d025f1db8eccb9b69b0afc0f98ab576d3c7f43728bf889e048bac08db464687

CLI Command

waitfornewblock

CLI Command

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

...
  "collateralAmounts": [
    "500.00000000@DFI"
  ],
...

Vault dUSD loan

Now we are eligible to take a loan out of the vault.

Estimate loan

For the case you like to take as much dUSD as possible out of your vault, use the estimateloan "vaultId" {"split":n} targetRatio command.

Here as an example with a split into 100% dUSD token and a collateral of at least 150% (the minimum of the chosen loan scheme).

CLI Command

estimateloan "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" {"DUSD":1.0} 150

Take dUSD loan

With the command takeloan {"vaultId":"hex","to":"address","amounts":"str"} the loan can be taken from the vault. transaction

CLI Command

takeloan {"vaultId":"40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b","to":"tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB","amounts":"100@DUSD"}

Expected output

5d30554b48cff80bd7937b87ae4ae2606a5c7e20902ccead6909a29ec9567fa2

CLI Command

waitfornewblock

CLI Command

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [
    "500.00000000@DFI"
  ],
  "loanAmounts": [
    "99.99981926@DUSD"
  ],
  "interestAmounts": [
    "-0.00018074@DUSD"
  ],
  "collateralValue": 233.919545,
  "loanValue": 99.99981926,
  "interestValue": -0.00018074,
  "informativeRatio": 233.91996778,
  "collateralRatio": 234,
  "nextCollateralRatio": 233,
  "interestPerBlockValue": "-0.000090372907153729071537",
  "interestsPerBlock": [
    "-0.000090372907153729071537@DUSD"
  ]
}

Loop dUSD loan

If you just want to profit from the negative interest rate, the taken loan dUSD tokens can be deposit back into the vault as additional collateral. transaction

CLI Command

deposittovault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b tgPJbMNsGzXVBsn57KZGGCZXsF4K88xRGB 100@DUSD

Expected output

b6dbb4bba4ec83eda09daf531d1968d4194ca39ba7273f471dd7a14303a991b9

CLI Command

waitfornewblock

CLI Command

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [
    "500.00000000@DFI",
    "100.00000000@DUSD"
  ],
  "loanAmounts": [
    "99.99954814@DUSD"
  ],
  "interestAmounts": [
    "-0.00045186@DUSD"
  ],
  "collateralValue": 353.919545,
  "loanValue": 99.99954814,
  "interestValue": -0.00045186,
  "informativeRatio": 353.92114422,
  "collateralRatio": 354,
  "nextCollateralRatio": 353,
  "interestPerBlockValue": "-0.000090372907153729071537",
  "interestsPerBlock": [
    "-0.000090372907153729071537@DUSD"
  ]
}

As seen in the result, we get already our first negative interest onto the dUSD loan, so the payback amount is not 100DUSD anymore.

Payback Loan

Because we deposit the loan dUSD tokens into the collateral, we should first pay back the dUSD loan with our dUSD collateral.

To do so, use the command paybackwithcollateral "vaultId". transaction

CLI Command

paybackwithcollateral "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b"

Expected output

7c333e497779e1dc63c578a8ff29591def8933219f90354a67c4ff0751779e3c

CLI Command

waitfornewblock

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [
    "500.00000000@DFI"
  ],
  "loanAmounts": [
    "30.87450689@DUSD"
  ],
  "interestAmounts": [
    "-0.00002790@DUSD"
  ],
  "collateralValue": 234.14012,
  "loanValue": 30.87450689,
  "interestValue": -0.0000279,
  "informativeRatio": 758.36067871,
  "collateralRatio": 758,
  "nextCollateralRatio": 758,
  "interestPerBlockValue": "-0.000027902214659912480974",
  "interestsPerBlock": [
    "-0.000027902214659912480974@DUSD"
  ]
}

Pay the remaining dUSD loan back with dUSD tokens from the wallet using the command paybackloan {"vaultId":"hex","from":"address","amounts":"str"}

Hint: It's save to define an amount which is higher than the collateral transaction

CLI Command

paybackloan {"vaultId":"40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b","from":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH","amounts":"31@DUSD"}

Expected output

617a5e26b231c9fd80ce2c882abd3f22a5d755140ba2b1deb4c2883b2f9bf4d0

CLI Command

waitfornewblock

CLI Command

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [
    "500.00000000@DFI"
  ],
  "loanAmounts": [],
  "interestAmounts": [],
  "collateralValue": 234.14012,
  "loanValue": 0,
  "interestValue": 0,
  "informativeRatio": -1,
  "collateralRatio": -1,
  "nextCollateralRatio": -1,
  "interestPerBlockValue": "0.000000000000000000000000",
  "interestsPerBlock": []
}

Withdraw Collateral

Withdraw the DFI collateral with the command withdrawfromvault "vaultId" "toAddress" "amount".

In case the vault gets closed afterward, this step can be skipped because the closevault command automatically send all remaining collateral to the specified address.

transaction

CLI Command

withdrawfromvault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH" "500@DFI"

Expected output

de1a5206cad6bdac8c75051594f7196a1452f6352de34f0e757b0d11eb30878b

CLI Command

waitfornewblock

CLI Command

getvault 40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b true

Expected output

{
  "vaultId": "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b",
  "loanSchemeId": "C150",
  "ownerAddress": "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH",
  "state": "active",
  "collateralAmounts": [],
  "loanAmounts": [],
  "interestAmounts": [],
  "collateralValue": 0,
  "loanValue": 0,
  "interestValue": 0,
  "informativeRatio": -1,
  "collateralRatio": -1,
  "nextCollateralRatio": -1,
  "interestPerBlockValue": "0.000000000000000000000000",
  "interestsPerBlock": []
}

Close the vault

Optionally close the vault with the command closevault "vaultId" "toAddress". transaction

CLI Command

closevault "40bfc5ce57fb7203bb89fb22aabeac4a495c364bede02606ed01e60331288b9b" "tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"

Expected output

119dbe51114add775ab3ad7f1e7dd1cc44223d5798b0e0f5e37f427149862bb4

CLI Command

waitfornewblock

CLI Command

listvaults {"ownerAddress":"tbRQNwSTJ3rqGbFnx17ng4BuGyz3s4fEtH"}

Expected output

[]