Tour: Nolus Protocol

Let's take a tour of @NolusProtocol on the CØSMOS interchain.

To start our adventure, I transfer 100 $axlUSDC from @TeamKujira to Nolus via @axelarcore using the Satellite bridge.

To bridge from Axelar to Nolus, I use Nolus' 'receive'-tab.

Full disclosure.

I'm familiar with money markets (@GeistFinance, Ghost on @TeamKujira, @BenqiFinance) and leveraged money markets, but I'm not familiar with 'leasing' crypto as per @NolusProtocol.

So, I'm learning here, too, folks.

So, 100 $axlUSDC has been bridged to @NolusProtocol. You see on the dashboard my portfolio value is $100.00 and that I have 100 $USDC earning 6% (APR?) and 15% $NLS APY.

$NLS is @NolusProtocol protocol token.

To view what assets I have that are earning APRs and APYs, @NolusProtocol has an 'Earning'-tab.

Since my 100 $axlUSDC is on-protocol, it (also) is earning.

So, different ways of looking at the same assets.

We have $axlUSDC collateral available.

Now let's lease something.

We go to the 'Lease'-tab which tells us to lease something.

So, well, yeah. That makes sense. Let's do that.

But before I lease anything, I need to make sure I have $NLS on-chain for gas fees.

How do I get $NLS on-chain? EASY!

I move liquidity to @osmosiszone, swap to $NLS (in this case, the liquidity is $axlUSDC from @TeamKujira), then withdraw the $NLS to @NolusProtocol 

Okay, $NLS moved over from @osmosiszone to @NolusProtocol.

Now I'm going to deposit and stake some assets, which I do, which start earning APYs and APRs.

I deposit 50 $axlUSDC and stake 150 $NLS. YAY! 🎉

I have assets saved/staked.

Let's lease against the rest of the $axlUSDC.

What even does 'lease' mean? First, let's do the thing, then, let's talk about it .

Doing it:

I put up 40 $axlUSDC and borrow, or lease,

get this:

$60 worth of $OSMO or 233.1 $OSMO

That's what I understand 'leasing' to be: I'm borrowing assets against collateral, but I'm borrowing ...

... at leverage.

The system asks me to confirm my $OSMO-lease, gives me a tx_id, then the lease-screen shows the price-history of the leased assets. 

What do I do with this $OSMO?

Currently, nothing.

@NolusProtocol says I have $99 of assets leased, but that 233.1 $OSMO I leased?

• It's not in my wallet.
• It's not on @NolusProtocol dashboard.
• I don't see to to bridge off-chain.

Dear @NolusProtocol

Where is leased $OSMO?