Demex is a universal decentralized application that allows you to work with a variety of tokens. Nitron is one of Demex’s features that allows you to borrow and lend various tokens. This guide will demonstrate how you can use stTokens in this market, and also explore other features of this DEX.
Depositing Funds to Nitron
- To get started, visit the Demex homepage https://app.dem.exchange/. To view the Nitron application, visit https://app.dem.exchange/nitron
- Connect your Keplr (or Leap) wallet using the button in the top right corner.
- When you scroll down the page, you will see a search bar. Enter the “st” symbol into the search bar to see the stTokens currently available on the platform. Using stTokens, you can lend or borrow the assets you need against them. Stride’s native token, STRD, is also listed as an asset on Nitron.
For this guide, stDYDX will be the primary example.
- Click “Lend.”
- In the new window, since this may be first time you are interacting with the application, you will have a zero balance. This means a deposit is required, just like you do when moving assets to a platform like Osmosis. Click “Deposit.”
The user profile tab will open, in which we see the presence of the tokens we need on the main balance of the wallet.
- Enter the amount you wish to deposit, click “Deposit,” and confirm the transaction in your wallet.
Note: You must have a small amount of $STRD for the commission (gas fee).
Lending stTokens on Nitron
- Return to the “Lend stDYDX” tab. Enter the amount you wish to lend as a collateral asset and confirm the transaction in the wallet.
- At this stage, you will need to confirm the activation of your wallet on the platform. Sign the message in your wallet and pay the transaction fee.
- In the Nitron section, you can now view your active lending position:
Borrowing stTokens on Nitron
You can use these funds to borrow other assets that you need. For this example, stATOM will be the asset we borrow.
- Type in “st” in the search bar to view the stTokens available to borrow.
- Select an amount to borrow. Ideally, you should select an amount that optimizes your health factor.
Theoretically, you can borrow the maximum amount of stATOM available in relation to the collateral you have lent. Note that borrowing the maximum will greatly reduce the position’s Health Factor and increase the risk of liquidation. It is advisable to choose the amount of occupied asset that will leave the health factor in the orange or, better yet, green zone in order to minimize risks.
If you are a regular Nitron user, the platform will eventually prompt you to make transactions without a signature. This is a handy feature for those making several transactions and using a well-secured device.
You need to select the period during which the setting will be valid and save it by signing the transaction in your wallet:
Now in the Nitron section you can view your two positions, the assets you are Lending and the assets you are Borrowing. With these positions, you have the option to now add collateral, borrow more tokens, withdraw your assets, and more.
In the “Swap” tab, you can exchange native ATOM, OSMO and Evmos tokens (after making a deposit) for stTokens and use them:
You can use them for collateral or adding to liquidity pools:
