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Testnet Guide

CherryLend Testnet Guide, Details, and Limitations

CherryLend is currently live on Testnet v1.14

This version was deployed November 2nd, 2023.

Our feature-complete testnet is now live! Thanks to our community for your unwavering support. In this release, community members can push the boundaries of what is possible with lending, borrowing, and liquidations. Pending unforeseen circumstances with testing, we foresee only small tweaks to be made in regard to optimizing the user experience. To see the full vision of CherryLend, our litepaper can be found here.

Guide

  1. 1.
    Download Nami Wallet → Settings → Network → Preprod;
  2. 2.
    Get tADA tokens at faucet → Set Environment to Preprod;
  3. 3.
    Go to CherryLend testnet site and create loan request OR Lend tADA for any existing loan request (that is requesting to borrow ADA).

New Features (v1.14)

  • Fixed payLoan error;
  • Time-based liquidations;
  • Price-based liquidations.

Next Steps

  • Mobile
  • Mainnet

Previous Features (v1.13)

  • Updated design - ready for mainnet;
  • Improved pending transactions.

Previous Features (v1.12)

  • Pending transactions;
  • Filtered expired loan requests;

Previous Features (v1.11)

  • Summary page in your loans (still missing amount of interest)
  • Several UI fixes

Previous Features (v1.10)

  • UTxO cache mechanism refactoring;
  • Your Loans - Loans loading indicator;
  • Performance and memory improvements;
  • Several UI fixes.

Previous Features (v1.9)

  • Borrow loans now show in Your Loans section;
  • Requested loans now displaying in Your Loans;
  • Several UI fixes;

Previous Features (v1.8)

  • Create loan offering (borrow);
  • Accept borrow requests;
  • UI tweaks and validations.

Previous Features (v1.7)

  • Several fixes to Your Loans section
  • Refactored Create Request

Previous Features (v1.6)

  • Expired loans no longer shown on overview for debug;
  • Wallet connection checks, namely network and selected account;
  • UI performance improvements;
  • Hours now correctly supported in create request and displayed in available loans table;
  • Several UI fixes.

Previous Features (v1.5)

  • Create request --> all calculations and validations;
  • Token icons: tooltip with token ticker (community request);
  • Several UI fixes.

Previous Features (v1.4)

  • Exchange rate logic refactored;
  • Loan health calculation on list of available loans is now shown - calculations on create request will be available in an upcoming version;
  • Wallet disconnect now working correctly;
  • Modal dialog title fixes;
  • Loading modal dialog fixes;
  • Success toast back button is now working;
  • Several other UI fixes.

Previous Features (v1.3)

  • Automatic wallet connection if previously connected (still missing a loading indicator on opening app but works ok).
  • LEND button no longer shows success toast messages before signing transaction.
  • Available loans no longer disappear on create request or lend request.
  • New warning message to connect wallet on every action that requires it.
  • Create request with ADA now working again.
  • New loading indicator for requests.
  • Token exchange rate on available loans is now cached.
  • Several UI fixes.

General Comments

  • Testnet is running in Pre-Production network - make sure wallet is connected to Pre-Prod.
  • Only single address wallets are supported (example: Nami or Eternal in single address mode).
  • Test tokens are not registered so decimals are not presented in user wallet.
  • Pending transactions not yet considered so must wait between transactions and refresh.
  • Only desktop is supported as of now.

Final Comments

We'll continue to update and push new testnet releases. This version is currently v1.14.
We'll also update this docs page in parallel to indicate newly added features.
Thanks to our community for your support as we look forward to our mainnet launch.