With the NexisDAO, you can deposit your CKB into the NervosDAO and mint dCKB at the same time. This allows you to continue gaining interest on your CKB in the NervosDAO, but you will be able to use dCKB in YokaiSwap (Defi) DEX.
In addition, you can use NexisDAO to deposit dCKB to issue TAI stablecoins. Many people are curious on how to mint dCKB from my discussions in Telegram and Twitter. You can do the following:
Depositing through NexisDAO, which allows you to still utilize the staked CKB by minting tradeable dCKB (Web 3.0 wallet required).
NOTE: If you have coins staked in the NervosDAO on Neuron Wallet, you will not be able to mint dCKB. You would need to do the following:
Settle and Withdraw those those funds from the NervosDAO.
Send funds to NexisDAO CKB Address.
Redeposit and mint dCKB.
Let’s walk through how this works.
Browse to the following - NexisDAO - https://app.nexisdao.com/dckb
Click Wallet Connect and choose the applicable wallet.
I have MetaMask installed. I will choose MetaMask. It will connect me and provide a CKB address.
Let’s now deposit some CKB. I’ll go ahead and purchase 1000 CKB from Crypto.com.
Next, click the copy CKB address button as shown below:
Next, transfer your funds from Crypto.com to NexisDAO.
Now chill for 5 minutes or less and it will show up in the wallet as shown below:
Let’s now Mint dCKB.
Click the Amount you want and confirm.
We now have dCKB we could leverage in a DEX for pool or farming. We are also earning 2.84 percent for the funds you have locked in the NervosDAO.
We can withdraw and unlock this dCKB in 30 days which will burn the dCKB and convert back to CKB. In the meantime, I am earning 2.84% as well in the NervosDAO.
If I wanted to mint TAI, I can now take my dCKB and mint the TAI stablecoin.
If you want to learn more about Nervos CKB see the following:
Question, you had 998 ckb initially deposit, after you mint dckb with 400 ckb you end up with 313.99ckb and 400dckb, where did the 285ckb go, is it not 1 to 1 ratio?
So, if one mistakenly used the "transfer" option on dCKB they had and sent it to a ckb address, how can I access that dCKB? I was curious to what the function was and thought it was going to allow me to swap nexisdao to nervousdao on neuron and that's not the case. I can see the address that the dckb on, however, I can't access it (even though it's an address that was autogenerated by neuron wallet).