Testnet guide
RWAOne Testnet V2 Launch Guide
We're kicking off our public testnet V2, bringing us one step closer to the much-awaited RWAOne mainnet launch.
Overview
The RWAOne Testnet allows users to explore key features—including add collateral, mint, swap, burn, withdraw collateral, verUSD, and experiencing self-liquidation on the Sonic test network.
1. Getting Started
To follow this guide, you’ll need a Web3 wallet (we recommend Rabby Wallet).
This section covers:
Adding test networks to web3 wallet
Obtaining testnet native tokens for gas fees
1.1 Adding Test Networks to web3 wallet
To add the Sonic test network to your Web3 wallet, go to https://testnet.soniclabs.com/account and check out the video guide.
https://www.loom.com/share/837dbea8f57f47ce90d0484caa1ee2ca?sid=eb8163ac-2c31-4cbb-a704-f91b70ab6d89
1.2 Obtaining testnet native tokens for gas fees After adding the Sonic testnet network, check the video guide below to request Sonic tokens for gas fees while interacting on the RWAOne testnet.
https://www.loom.com/share/3b3794fd7e804c5eb841b12b5c904597?sid=9dfc3ffe-cc41-4265-8e0e-12ec7e133044
Note: Due to the high volume of requests, there might be a chance that the sonic token request might fail; in such a case, please try again after some time.
2. Getting test collateral token
$WBTC: https://testnet.sonicscan.org/address/0xD2373B7eeAA2819c8E14fBccF784cE9B8c1E8189#writeContract#F1
$scUSD: https://testnet.sonicscan.org/address/0x9e76e45184a10df4f48db434fdc3b93a61684377#writeContract#F1
$scETH: https://testnet.sonicscan.org/address/0xf081b5b8f0f916a6e2c9d147652ca646395849ed#writeContract#F1
$RWAOne: https://testnet.sonicscan.org/address/0xb63ada10becac002410ab9225a506fb681c5f86e#writeContract#F1
Step 1: Approve
Click on the link of the token.
Enter the wallet address in the spender (address) section.
Enter the required number of tokens.
Click on (+) the icon next to the value and select 10^18.
Click on the add button.
Click on the Write button and confirm from the wallet.
Step 2: Faucet token
Click on _amount (uint256)
Enter the amount of tokens you want to faucet.
Click on (+) the icon next to the _amount (uint256) and select 10^18.
Click on the add button.
Click on the Write button and confirm from the wallet.
Click on the link below to view the video guide: https://www.loom.com/share/5c4cae7c69fc4f9a94be40144b07b87d?sid=48aedb48-ef96-41b4-b267-4fdef844b7d6
3. Getting started with RWAOne testnet
One can access the RWAOne testnet by clicking the launch app button on https://waonene.io/ or you can head over to app.rwaone.io.
Users can perform the following transactions on the RWAOne dApp:
Add collateral
Mint
Burn
Withdraw collateral
Withdraw minting rewards
Swap
VerUSD
Escrow
Withdraw liquidation rewards
Self liquidation
3.1 Add collateral
Add collateral is the process of staking collateral, and RWAONE allows users to stake $scETH, $scUSD, $RWAOne, and $WBTC as collateral.
Select from $scETH, $scUSD, $RWAOne, or $WBTC as collateral.
Select the quantity.
Click on the “ADD COLLATERAL” button.
3.2 Mint
After completing the add collateral transaction, users can mint rUSD by selecting their desired collateralization ratio (C-Ratio) between 150% and 400% against the collateral that was staked using the add collateral transaction.
Select the c-ratio (between 150% and 400%) at which users have to mint.
Click on the “MINT” button.
3.3 Burn
Burn is the process by which a user can reduce or eliminate their debt, typically to increase their collateralization ratio (C-ratio) or to withdraw staked collateral.
Select the rASSET (rUSD, rXAU, rXAG) that has to be burned.
Select the quantity that has to be burned.
Click on the “BURN” button.
3.4 Withdraw collateral
After burning debt, withdraw collateral allows users to withdraw their withdrawable collateral, which users have staked via the add collateral process.
Select the collateral that has to be withdrawn.
Select the quantity.
Click on the “WITHDRAW COLLATERAL” button.
3.5 Withdraw minting rewards
Minting rewards are distributed on a weekly basis, and the rewards one gets are based on the amount of debt shared owned by the user.
Click on the “WITHDRAW MINTING REWARDS” button.
Confirm the transaction from the wallet.
The transaction is completed.
3.6 Swap
Users can swap their minted rUSD to rXAU or rXAG. For the steps below for performing the swap, we will consider that users only have rUSD after minting.
Select the rASSET in the FROM section.
Select the rASSET in the TO section.
Click on the “SWAP” button.
3.7 verUSD
verUSD allows users to lock their rUSD for a time period and receive rUSD and R1 rewards. Upon locking, users receive verUSD (an ERC-721 token) that represents the user's position—proportional to both the amount locked and the chosen duration (up to 4 years).
3.7.1 Create
Enter the amount of rUSD to be locked.
Select the duration for which users want to lock the rUSD.
Click on the “CREATE” button.
After completing the “CREATE” transaction, users will get an NFT. Users can see the NFT ID, unlock date, and amount of rUSD locked on the verUSD homepage.
3.7.2 Extend
Increase the lock duration of your existing verUSD to boost your rewards. The longer the lock-up, the greater the benefits.
Select the time-lock duration using the slide bar.
Click on the “EXTEND” button.
3.7.3 Increase
Add more rUSD to an existing verUSD position to enhance your rewards.
Enter the amount of rUSD to be added to the existing verUSD position.
Click on the “INCREASE” button.
3.7.4 Transfer
verUSD is tradable, allowing users to transfer or sell their position on secondary markets, adding flexibility and liquidity to their locked assets.
Enter the wallet address to which the verUSD has to be transferred.
Click on the “TRANSFER” button.
3.7.5 Unlock
Once the lock-up period ends, users can unlock and reclaim their rUSD tokens.
Click on “UNLOCK”.
Confirm the transaction from the wallet.
Users will receive their locked rUSD back to their wallet.
3.7.6 Withdraw verUSD rewards
Rewards are distributed on an EPOCH basis, and users can keep on claiming their rewards as they keep getting accumulated.
Click on the Withdraw verUSD Rewards button.
Confirm the transaction from the wallet.
The transaction is completed.
Note: When verUSD rewards are withdrawn, rUSD is immediately sent to the user's wallet, while R1 is added to the liquidation rewards and must go through an escrow period before becoming withdrawable.
3.8 Escrow
Debt shareholders receive $RWAOne token rewards whenever a user is liquidated. To withdraw these R1 tokens to their wallet, users must first escrow them for a period of 30 days.
Click on the escrow button.
Confirm the transaction from the wallet.
The transaction is complete.
3.9 Withdraw liquidation rewards
Users will be able to withdraw their accumulated liquidation rewards after completing 30 days of escrow duration.
Click on the “WITHDRAW LIQUIDATION REWARDS” button.
Confirm the transaction from the wallet.
The transaction is complete.
3.10 Self-liquidation
When a user's collateralization ratio (C-Ratio) falls below the protocol's liquidation threshold, their position becomes eligible for forced liquidation. To avoid this and prevent incurring a liquidation penalty, the user can initiate self-liquidation, voluntarily reducing or clearing their debt to restore their C-Ratio above the required threshold.
Click on the self-liquidation tab.
Confirm the transaction from the wallet.
The self-liquidation transaction is complete.
Note: In case the user's account is not eligible for self-liquidation, users will be redirected to the liquidation rewards page.
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