Complete Walkthrough

This walkthrough will be for CLI only. Using SDK is more complex. You can find more details in Using CLI and Using SDK section.

You should already have git and go installed on your machine.

Create Stellar account -> Get some VELO -> Use CLI or SDK to interact with Velo node

Getting VELO from Faucet is required for your account to be added as a trusted partner, otherwise you will not be able to setup or mint stable credit. You can request VELO only once per day.

  1. Go to Stellar Lab to create and fund a Stellar account on Testnet.

  2. Get some VELO from faucet. Your account will be funded with 3,000 VELO and added as a trusted partner.

Install gvel

Pull code from Github at https://github.com/velo-protocol/DRSv1

$ git clone https://github.com/velo-protocol/DRSv1

Once you clone the repo successfully, go into the project root folder and enter the following command:

$ cd DRSv1
$ go build -o gvel cmd/gvel/main.go
$ cp gvel /usr/local/bin

The first command builds gvel on your system and the second copies it over to the bin folder so you can run the command in your command line terminal.

After you can run gvel on your command line terminal

$ gvel init

This will create a config file for gvel as well as a db to store account details on your machine.

Create new account

New accounts are created by executing the following commands:

$ gvel account create --default
Please enter your passphrase: ****
Please confirm your passphrase: ****
Creating account... with GA....... with starting balance ... XLM.
A new account is created with address GA........ Please remember to keep your passphase safe. You will not be able to recover this passphrase.

This command creates new account on Stellar and funds it with 10,000 XLM.

Getting some VELO

Go to faucet and fill in your Stellar account.

Please make sure you have set up a trustline between your account and VELO issuing account specified on Faucet before requesting.

Complete the CAPTCHA test and submit the form. The faucet will send 3,000 VELO to your account as well as add your account as a Trusted partner so you can set up and mint price-stable credit.

Set up price-stable credit

Before you can mint stable credit, you must set up a credit you want to mint by using the following commands:

$ gvel credit setup
Please input asset code: vTHB
Please input pegged value: 1
Please input pegged currency: THB
Please input passphrase: ****
Setting up stable credit
// Where GB... is the default account
Stable credit vTHB set up for account GB... successfully.
txHash is ${txHash}

Mint price stable credit

After the setup is completed, you can mint the stable credit using the following commands:

$ gvel credit mint
Please input asset code of credit to be minted: vTHB
Please input asset code of collateral: VELO
Please input amount of collateral: 100
Please input passphrase: ****
Minting stable credit
100 vTHB minted successfully. The stable credit is in GF...
txHash is ${txHash}

Redeem price-stable credit

When you wish to change the stable credit back to VELO, you can use the following command

$ gvel credit redeem
Please input asset code of the stable credit to be redeemed: vTHB
Please input issuing account of the stable credit: GA...
Please input the amount of stable credit: 1000
Please input passphrase: ****
Redeem was successful.
txHash is ${txHash}