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Frequently Asked Questions❓

Frequently asked questions regarding usage of Bend.

How to acquire $HONEY for Bend Interactions

When accessing the testnet, you will need to use its own native asset token. You can find these in the Faucet through where you can submit a transaction for the specific token you need.

Steps to test:

  1. Acquire $BERA tokens via official faucet.

  2. Trade the $BERA token for $HONEY tokens via BEX (Berachain's native BEX).

  3. Testing Bend (Berachain's native Lending platform).

How do I get the $BERA tokens on testnet?

Berachain Faucet

How do I acquire tokens for testing Bend Platform?

You can swap tokens for native test tokens/$BERA. Check out Berachain BEX.

How do I select the testnet?

First, be sure to check your wallet provider allows you to switch to testnet. There are many wallet providers, that allow this but you’ll need to verify the suitability yourself prior to testing. Some providers, such as the Metamask extension, display the network selection on top of the menu over the extension and, in the case of mobile Metamask, above of the wallet section. It’s important to always do your research for compatible wallets with compatible networks.

What is the cost of interacting with Bend?

Interacting with the protocol requires transactions and therefore transaction fees for Berachain Blockchain usage, similar to any smart contract interaction requiring gas fees.

Where are my supplied funds stored?

Your funds are allocated in a smart contract. The code of the smart contract is public, open source, formally verified and audited by third party auditors. You can withdraw your funds from the pool on-demand or export a tokenised (aTokens) version of your lender position. aTokens can be moved and traded as any other cryptographic asset on Berachain.

Is there any risk?

No platform can be considered entirely risk free. The risks related to Bend are smart contract risk (risk of a bug within the protocol code) and liquidation risk (risk on the collateral liquidation process). Every possible step has been taken to minimize the risk as much as possible-- the protocol code is built on top of battle-tested Aave, which is open source. (Auditing for Berachain specific contracts will be announced once it's live during testnet).

Mobile App ⚠️

Be careful, Bend doesn't have any downloadable mobile application available. If you find one, it is a scam. Bend would not ask for your seed passphrase ever. Bend never advertises on any social media or search engine. If you see any advertisement, those are scams and phishing sites.