How to use Bunny Ducky: A Step By Step Guide

Bunny Ducky is a Tokenizing DeFi strategies platform on Solana. Bunny Ducky has a feature that allows you to convert LP tokens from Mercurial and Saber into yield tokens.

longdinh

Published Jan 21 2022

Updated Oct 20 2022

4 min read

Solana ecosystem was a very prominent name in the past year when it continuously launched attractive projects, almost every few days we could see another puzzle of DeFi appeared: Borrowing and lending, decentralized exchange, derivatives trading, options,...

In this article, I will guide you in detail on how to use Bunny Ducky - a very attractive new project of the Solana ecosystem.

Bunny Ducky Overview

The Solana ecosystem never disappoints as it constantly launches hot products in the market, and this time it welcomes us to the world of Bunny Ducky - a Tokenizing DeFi strategies platform on Solana. In addition to the lovely and bold Solana interface, Bunny Ducky has a feature that allows you to convert LP tokens from Mercurial and Saber into yield tokens. Bunny Ducky aims for 100% investment and allows you to withdraw money at any time.

In addition, Bunny Ducky's Yield tokens feature will be able to automatically increase in value as the yield pool is compounded, making yields higher and ideal for mortgage lending, as debt volume decreases, the loan will self-repay.

How to start using Bunny Ducky

Download and install the Coin98 Extension Wallet

Bunny Ducky is available on the Coin98 Extension Wallet, I will update as soon as Bunny Ducky is compatible with the Coin98 Super App for both iOS and Android versions.

Coin98 Extension Wallet is now supported on the Chrome browser. If you are a new user, you can install the Extension Wallet directly on your computer:

Installation instructions on Google Chrome are here.

Create a Solana wallet (SOL & SPL tokens)

Bunny Ducky is a protocol on the Solana blockchain, so you need a Solana Wallet (SOL, SPL) to use this platform.

After installing the Coin98 Super App, you can refer to the guidelines below to create a Solana (SOL & SPL tokens) wallet, or restore Solana wallets from other platforms to the Coin98 Super App.

How to create a Multi-chain Wallet (recommended).
How to create a Solana (SOL & SPL tokens) wallet here.
How to import Metamask wallet into Coin98 Super App here.
How to import Trust Wallet into Coin98 Super App here.

Prepare SOL to pay for the gas fee

Bunny Ducky uses SOL for gas fees. As a result, to “battle" Bunny Ducky, you must have SOL in your wallet.

So everything is ready, let's start the "real battle".

How to use Bunny Ducky through the Coin98 Extension Wallet

The latest version of the Coin98 Extension Wallet allows users to connect to Dapps easily.

A special point of the Coin98 Extension Wallet is that the Coin98 Wallet automatically optimizes transaction fees and speed. It could help you save a significant amount of transaction fees. Or else, you can adjust the gas fee by sliding the gas fee bar according to your purpose.

Step 1: After accessing Bunny Ducky, click Get Started in the middle or upper right corner of the screen.

Step 2: Click Connect Wallet at the top right corner of the screen to connect to Coin98 Wallet. Click Continue, then select Coin98 Wallet.

Farms

Step 1: Select the LP token pair that you want to convert. I’ll take the Saber LP USDT-USDC LP pool as an example.

Note: You need to have a balance of LP tokens USDT or USDC available to be able to perform this step. And if you don't have any, follow these steps:

Step 1: After accessing the Saber exchange, select the Pools tab.

Step 2: Select the USDT-USDC LP token pair, enter the amount you want to add and then click Deposit. Click Confirm on the message board to confirm. The system will charge a very small fee for this step. Click Sign to confirm the transaction.

After preparing the LP tokens, we’ll return to the Bunny Ducky interface and continue.

Step 2: Next, enter the amount you want and then click Deposit. The system will charge a very small fee for this step. Click Sign to confirm the transaction.

Step 3: You can also withdraw the assets that you have deposited at any time by clicking Withdraw, entering the amount you want, then clicking Withdraw. The system will charge a very small fee for this step. Click Sign to confirm the transaction.

A few notes when using Bunny Ducky

Gas fees when using Bunny Ducky?

As mentioned, gas fees must be paid in SOL.

Is it safe to use Bunny Ducky?

In the crypto market, nothing can be guaranteed, so you still need to consider and manage your assets closely, in addition to other risks you may also encounter such as IL, asset liquidation, price reduction, tokens,...

Can multiple properties be used as collateral?

Yes, you can use multiple assets supported on the Bunny Ducky platform at the same time as collateral.

Summary

So, I have introduced and guided you in detail on ways to optimize profits with Bunny Ducky. If you have any problems or questions during the implementation process, please leave a comment below, the Coin98 team will support you right away!