QILIN-V2 Testing Manual

Qilin
5 min readNov 16, 2021

1. Prepare for testing

1.1 Install MetaMask

If you have already installed MetaMask, please skip to 1.2

Steps:

1. Go to the installation website https://chrome.google.com/webstore/detail/nkbihfbeogaeaoehlefnkodbefgpgknn

2. Create a wallet according to the instructions on the page and back up the private key and Secret Recovery Phrase;

Note: Follow the recommended installation steps (VPN may be required based on your region), otherwise you may put your assets at risk .

1.2 Switch to test network

Steps:

  1. Click on the drop-down menu on the top of the wallet interface

2. Switch to Rinkeby Test Network for network setup.

1.3 Connect wallet to Qilin testnet

Steps:

1. Go to https://rc.qilin.fi/nft/

2. Select a network and click “Connect Wallet” button at upper right corner, and follow the instructions to complete the connection.

1.4 Get testnet tokens

1.4.1 Get testnet ETH

Steps:

  1. Publish your Rinkeby address on your Twitter

2. Click “Share”, then copy link to Tweet

3. Go to https://www.rinkeby.io/#faucet , paste the link you copied, click “Give me Ether” to claim ETH

1.4.2 Get other testnet tokens

Steps:

1. Go to https://rc.qilin.fi/nft/

2. Select a network and click “Connect Wallet” button at the upper right corner, and follow the instructions to complete the connection.

3. Click “Claim Token” at the upper right corner (If you are not in the whitelist, the button of “Claim Token” is gray and you’re not able to claim tokens.)

4. Click “Confirm” on the wallet interface

5. Click “Add to MetaMask” on the pop-up window

6. Click “Add token” on the wallet interface

1.5 Connect Rinkeby to log in to Uniswap V3

Operations Manual:

1. Go to https://app.uniswap.org/

2. Connect MetaMask

3. Switch network to Rinkeby for trading and liquidity operations

2. Liquidity Operations

2.1 Add liquidity

Steps:

  1. Click on the Pool you want to add liquidity to in the “All Pools” list and go to the details page to add liquidity

2. Add liquidity

2.2 Remove liquidity

  1. Click ‘My Liquidity’ in the drop-down menu to enter the add/remove liquidity management page.

2. Click “Add/Remove” to go to the liquidity details page to add/remove liquidity.

3. Remove Liquidity

2.3 LP Yield

This feature is currently under development.

3. Trading Operations

3.1 Open a position

1. Click “Trade” on the “Pool” page to go to the trading page

2. Choose a leverage

3. Enter margin to open a position

4. Choose to buy/long or sell/short a position

5. Click “Confirm”

6. You can check the position information in the “Positions” list after you have successfully opened a position.

3.2 Margin Call

  1. Click “Margin Call” to view the pop-up window

2. Enter the margin call amount and click “Confirm”

3.3 Close a Position

1. Click “Close” to close the position, and then close the position in the pop-up confirmation window.

2. Click “Confirm” to close the position.

3.4 Position PnL

You can check the estimated profit/loss and realized profit/loss of the position through “Esn.Pnl” and “Pnl” in the “Positions”and “Closed Positions” tabs.

4.Liquidation Operations

4.1 Liquidation of a position

1. “Reward” tab allows you to view all positions to be liquidated on the Qilin platform. Click “Liquidation and Earn Rewards” to liquidate the positions waiting to be liquidated under that contract.

4.2 Liquidation Rewards

“Rewards” represent the rewards under each position, and the liquidation of the position is rewarded with a certain amount of liquidation reward.

5. Notes on Testing

5.1 About the USD Exchange Rate

Since the USD exchange rate for each token is not available on Rinkeby, the conversion value in USD on Qilin platform is for reference purposes only during the test period. This issue will be solved after the mainnet goes online.

5.2 About Uniswap Price Feed

Since Qilin uses Uniswap V3 as the price feed, a new price is generated only when the token is traded on Uniswap V3 on Rinkeby, otherwise the price will remain the same after the last transaction. Test users can update the price feed by trading on Uniswap V3 on Rinkeby with the tokens they received.

5.3 About Uniswap liquidity

Since Qilin uses Uniswap V3 as the price feed, it needs the tokens to be liquid on Uniswap V3 on Rinkeby in order to generate new prices when trading. Test users can add/remove liquidity to/from Uniswap V3 on Rinkeby with the tokens they received.

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Qilin

Decentralized risk-optimizing protocol for derivatives trading.