Bastion Protocol
Search…
Desktop Guide

Setup

  1. 1.
    Connect your wallet to Aurora Mainnet. Bastion supports Metamask Wallet. (more coming soon)
  2. 2.
    Get some ETH for gas on Aurora. Aurora provides a free faucet for ETH dust to get you started on your journey!
  3. 3.
    Pick a token on the Dashboard you are interested in. Ensure that you have some of these tokens in your wallet.

Supplying assets

  1. 1.
    Enter the desired amount to deposit and click "Approve" (if required). Confirm the transaction in your wallet.
  2. 2.
    Then click "Supply". Confirm the transaction in your wallet.
  3. 3.
    To use the asset as collateral for borrowing later, turn the "Use as Collateral" button to green.

Collateral

If you would like to borrow an asset, you must enable your asset as collateral during the Supply step. Putting an asset up for collateral allows you to borrow, but could also lead to your position being partially liquidated if the value of your collateral falls below the liquidation threshold.
​
Users are not allowed to withdraw assets that are actively being used to borrow or if the withdrawal of those assets would cause a liquidation on your loans.

How do I claim my interest?

Once the transaction is confirmed, the deposit is successfully registered and it starts earning interest automatically. You will receive collateral tokens (cTokens) in your wallet as a representation of your supplied asset into the protocol. For example, cNEAR, cETH, cUSDC.
The cTokens automatically gain value over time, relative to the underlying token, as you accrue interest. This means that, upon withdrawal, your cToken will be convertible to an increased amount of its original asset, even while the number of cTokens in the wallet remains the same. Annual Percentage Yields (APY) are algorithmically adjusted based on supply and demand.
​

Will you add more markets to Bastion?

Yes, soon. In order to list a token, it must have millions in liquidity. Bastion is a pooled lending protocol, meaning risk is shared and any single 'bad apple' could result in the entire protocol being drained. Thus, we are extremely selective on the assets that we list.
​

Can I collateralize only 50% of my deposited token?

No, you must collateralize a position in entirety.
​

Why can't I disable collateral?

You may have an outstanding borrow balance. Repay some of your borrowed tokens.

Withdrawing assets

Users can withdraw assets as long as those funds are not actively being used to borrow and if the withdrawal of those assets would not cause a liquidation on your loans.

Borrowing assets

Why borrow?

Although borrowing on Bastion requires being overcollateralized, there are many reasons to borrow, including: leveraging long, and shorting assets.
​
By borrowing, users can gain access to liquidity without losing price exposure to their collateral. Borrowers should keep a keen eye on their loan position's collateral factor, as loans which exceed the collateral factor are subject to liquidation.
​
Before borrowing, the user must check that they have already supplied asset(s) and enabled them as collateral. This is indicated by the light-green circle "C" for collateral.
  1. 1.
    Click on a market you are interested in borrowing. It is not necessarily the one you used as collateral.
2. Enter a borrow amount into the modal and click "Borrow". The transaction will take a few seconds to confirm.
Borrow limit refers to the maximum amount that a user can borrow with the assets they have currently supplied and collateralized.
Collateral factor (also known as Loan-To-Value ratio) is the amount a user can borrow for each market as a function of borrow amount divided by their collateral provided.

How can I increase my borrow limit?

  1. 1.
    Deposit more assets into the market and collateralize them.
  2. 2.
    Repay a portion or the full amount of the borrowed amount

How do I repay interest?

Interest is automatically calculated and added to your borrowing balance. You can repay at any time.
​

How do I leverage long an asset?

Users can increase exposure on their current asset (going long) if they believe its price will appreciate. Users can also enter another position with additional capital. Users can, for example, borrow their current asset to gain liquidity (working capital) without the need to sell their current asset.
Additionally, since Bastion's borrow APYs are so low many users can engage in recursive borrowing. Users simply deposit, then borrow, then deposit the amount they borrowed over and over. This allows users to increase their leverage and BSTN rewards earned. Do keep an eye on your borrow limit to make sure you have a safe margin!
​

How can I short an asset?

If a user believes the price of a certain asset may go down, they could borrow the asset and immediately sell it, in order to repay back the loan at a later stage.
​