Kava is a decentralized bank, that gives you possibility to mint $USDX — stable coin on kava-chain. Like a $USDT is a stable coin on etherem-chain.
To proof value of $USDX you can use different crypto: $BTC, $BNB, $XRP, $BUSD, more in future.
This instruction will explain you, how to mint $USDX with $XRP.
The easiest way is to use Cosmostation Wallet app.
At first, you need to create bnb-address and kava-address.
If you don’t know how to create address, use this instruction.
Now you have bnb-address and kava-address. Great!
You need to send $XRP to your bnb-address.
Remember, that you need to send $XRP on binance-chain, not common $XRP!
The easiest way: send $XRP to your bnb-address from Binance exchange.
10% discount on exchange fee by my referal link: https://www.binance.com/en/register?ref=GIKI9ZQ0
- Choose XRP.
- Input your bnb-address.
- Choose Binance Chain (not Binance Smart Chain, not XRP).
- Input amount of $XRP.
After submit withdrawal. You don’t need input MEMO.
After, go back to your Cosmostation Wallet app, and open your bnb-address:
Left screenshot:
(1) Check, that you have minimum 0.000375 $BNB to pay interchain-transaction fee.
(2) Click “TOKENS”.
Middle screenshot: You will see $XRP on Binance-chain. Click on it!
Right screenshot: Click on “Interchain Transaction”.
Left screenshot:
(1) Choose to send $XRP. If you click on it, you will see Right Screenshot.
(2) Click “Next”.
Right screenshot: You can mint $USDX with: $BNB, $BTC, $XRP or $BUSD.
Left screenshot:
(1) Select Recipient Account. If you click on it, you will see Right Screenshot.
(2) Click “Next”.
Right screenshot: If you create kava-address in Cosmostation Wallet, you will see your kava-address in the list of Recipient Addresses.
Left screenshot:
(1) Select Amount. I choose “Max”.
(2) Click “Next”.
Right screenshot:
(1) Remember, that you need to pay 0.000375 $BNB for interchain-transaction fee.
(2) Click “Confirm”.
Left screenshot:
Click “Confirm”.
Right screenshot:
Wait severel seconds, don’t go out from app, until it’s finished!
Left screenshot:
(1) Check, that status of transaction is “Success”.
(2) Click “Destination Wallet”.
Middle screenshot:
(1) Now you can see your $XRP on kava-chain.
(2) Click “Wallet”.
Right screenshot: Click on “CDP&Harvest”.
Left screenshot: Scroll down, find XRPB-A and click on it.
Right screenshot: Click on “Open CDP”.
Left screenshot:
(1) Select Amount. I choose “Max”.
(2) Click “Next”.
Right screenshot:
(1) Don’t be risky! Choose ~70
(2) Click “Stable”.
Left screenshot: Here is an information about risks of CDP. Read it, and after click “Confirm”.
Right screenshot: We don’t need Memo. Write nothing! Click “Next”.
Left screenshot: Choose free fee. Click “Next”.
Right screenshot: Click “Confirm”.
Left screenshot: Read it, and after click “Confirm”.
Right screenshot: Check, that status of transaction is “Success”. Click “Done”.
That’s all! You mint $USDX with $XRP! Congratulations!
To find your $USDX: go to you kava-address, and click on “TOKENS”:
You can use $USDX by different ways:
1) You can earn $HARD, by sending $USDX to Liquidity Pool. Read instruction here!
2) You can trade it on BitMAX-exchange or in KavaTipBot
I hope, this instruction helped you to understand process better))
If you have any questions, feel free to ask in Telegram:
Kava Labs
KavaTipBot
HARD-Protocol
Cosmostation
The easiest way to exchange, send and recieve $KAVA, $USDX and $HARD: t.me/KavaTip_Bot
Kava — is a part of Cosmos Ecosystem
Kava News
Kava Twitter
Harvest Twitter
The instruction was prepared by Vladimir PonimajushijIf you like my instructions, you can send me $KAVA, $USDX or $HARD:
kava1twvqa0k04rfu53ycrgtkqua2jeyr7h7qtz9qcu
If you find any mistake, write to me in Telegram.
My other instructions:
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How to vote for proposals in KAVA in just 8 clicks
Everything you need to know about Kava, Harvest and staking. Simple explanation and instructions.
How to import you address from Trust Wallet to Cosmostation Wallet
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