Quick Start
This guide walks you through the complete Constant Finance testnet experience. You will prepare a wallet, connect to the app, create Supply and Borrow Orders, and learn how to manage an active Position.
Time to complete: About 15 minutes
1. Setup Your Wallet
Prerequisites
Before you begin, make sure you have:
The steps below use MetaMask, but the overall process is similar with other supported wallets.
Add the Faucet Tokens
In MetaMask, go to Manage tokens → Add a custom token → Add token.
Add the Sepolia tokens you want to test by copying their contract addresses from the table below.
USDC
0xd4A6e9a9Dcddf6Ab97dBD47792349B92A6dfC820
USDT
0x6FB00eE1AB7e0DfEa9a81fA5c095Cf2bd03C75c0
WETH
0xf6081C62c44e85A025101c99FB9f74Afc36B23CA
WBTC
0xC2C1d50Ce80C7418bB39A5eaF073E3870e2AbC7F
MetaMask should display each token in your asset list after it is added.
Claim Faucet Tokens
Open the Constant Finance Faucet. Connect your wallet, select the test assets you need, and click Claim.
Each selected token may arrive in a separate transaction. Wait for the transactions to confirm, then check the token balances in your wallet.
Claim Gas Tokens
Every Sepolia transaction requires Sepolia ETH for gas. Request a small amount from one of the faucets below.
Follow the faucet's verification process and submit your wallet address. Limits and delivery times vary by provider, so confirm that the ETH has arrived before moving on.
You are ready to connect when MetaMask shows Sepolia, a positive Sepolia ETH balance, and at least one supported test token.
2. Connect to dApp
The connection is ready when the app header shows your wallet address and Sepolia.
3. Supply Assets
Create a Supply Order to make an asset available to borrowers. You choose the amount, the minimum fixed APR you will accept, and the longest loan term you are willing to fund.
How It Works
A borrower creates a Borrow Order with a requested asset, amount, maximum APR, maximum term, and collateral.
One or more compatible Supply Orders can fund that request. Your assets remain in your wallet until a match settles.
When a Position opens, your supplier rate is fixed and you receive a Constant NFT representing your claim.
The borrower may repay before maturity. Early repayment returns capital sooner, but it can shorten your realized lending duration and reduce total interest.
For more context, read Fixed Rate, Flexible Duration.
Steps
Create a Supply Order
Under Assets to Supply, find the asset you want to lend and select Supply. Then:
Set the longest Max Loan Term you will accept.
Confirm the Supply Asset.
Enter the Supply Amount.
Enter your Minimum APR.
Select Supply.
If prompted, approve the token. This approval allows the Gateway to transfer only the matched amount when settlement occurs.
Review the Order and sign it in your wallet.
Signing creates an offchain authorization. It does not immediately transfer or lock your assets.
Review Your Supply Orders
Open Supply Orders to see the Orders you have created. Each entry shows:
Status — the Order's current state
Asset — the token offered for lending
Amount — the total amount covered by the Order
Lent-out % — the percentage already matched and lent
Details — the Order terms and any related Positions
Supply Details
Select Details on a Supply Order to review its terms, active Positions, and recorded earnings.
Before signing, check the asset, amount, minimum APR, and maximum term. After a match settles, the funded amount remains committed to its Position until it is repaid or otherwise settled.
The supply flow is complete when your dashboard shows the expected Supply Order or a matched Position with the correct fixed rate and maturity.
4. Borrow Assets
Create a Borrow Order to request assets against collateral. You choose the amount, the highest fixed APR you will pay, and the longest loan term you will accept.
How It Works
You create a Borrow Order with the requested asset, amount, maximum APR, maximum term, and selected collateral.
The collateral remains in your wallet while the Order is open. It moves into an isolated Position only when a match settles.
After settlement, the borrowed asset arrives in your wallet and the Position begins accruing interest at its fixed rate.
You monitor the Position's Health Factor and can add collateral or repay debt when needed.
The Position becomes liquidatable if it is unhealthy or reaches maturity with debt remaining.
Read Positions and Risk Parameters and Position Health for the underlying lifecycle and risk model.
Steps
Create a Borrow Order
Under Assets to Borrow, find the asset you want and select Borrow. Then:
Use Add Collateral to select the assets that will secure the loan. Repeat the action to add more than one item, or select Remove to exclude an item.
Enter the Borrow Amount. The app estimates the Position's Health Factor from the current values of your selected collateral and requested debt.
Enter the highest Max APR you will pay. If available, Use Market APR fills this field with the rate displayed by the app.
Choose the longest Max Loan Term you will accept.
Select Borrow or Approve & Borrow.
If prompted, approve the collateral token so the Gateway can transfer it when a match settles.
Review the Order and sign it in your wallet.
The app will not let you create an Order if its estimated Health Factor is below 1.0.
Review Your Borrow Orders
Open Borrows to see the Borrow Orders you have created. Each entry shows:
Status — the Order's current state
Asset — the asset you requested
Value — the total requested value
Method — the displayed rate method
Health Factor — the estimated safety level based on current values
Details — the Order terms and, after settlement, related Position information
Borrow Details
Select Details on a Borrow Order to review its terms. After settlement, the same view provides information about the active Position, collateral, repayments, and suppliers.
Understand Your Health Factor
Once the Borrow Order is matched, the Health Factor shows how close the Position is to its liquidation boundary.
Above 1.5
🟢 Safer buffer
Continue monitoring the Position
1.0–1.5
🟡 Caution
Consider adding collateral or repaying debt
Below 1.0
🔴 Liquidatable
Act immediately to reduce risk
The Health Factor reflects current collateral value, outstanding debt, accrued interest, and the configured thresholds for each collateral asset. It can change even when you take no action.
If the Health Factor falls below 1.0, the Position may be liquidated. Monitor it regularly and consider adding collateral or repaying debt before it reaches that level.
The borrow flow is complete when the dashboard shows an active Position with the expected borrowed amount, collateral, fixed rate, and maturity.
5. Manage Your Position
Repay a Loan
You can repay part or all of an outstanding loan before maturity.
Refinance a Loan
Refinancing replaces an existing Position with a new one under newly matched fixed terms.
What Happens at Maturity?
Maturity is the latest agreed duration, not a required holding period. You may repay part or all of the debt before that date. If debt remains after maturity:
Borrower: The obligation remains outstanding and the Position becomes eligible for liquidation.
Supplier: Maturity alone does not send funds to the supplier. Repayment must first be recorded for the Constant NFT, and the current owner then claims the available amount. See Repayment and FIFO Settlement.
6. FAQ & Troubleshooting
General
Why did my transaction fail?
Start with the error shown in your wallet. If a transaction was submitted, open it in a block explorer for more detail. Common causes include:
Insufficient gas — request more Sepolia ETH before trying again.
Missing token approval — approve the relevant token before submitting the transaction.
Expired Order — create a new Order with a valid expiry.
Changed onchain state — an Order, balance, approval, price, or available capacity may have changed before execution.
Why does signing an Order not cost gas?
Constant Finance uses EIP-712 typed data signatures for Orders. A signature authorizes terms offchain and does not submit a transaction. Gas is required later for onchain actions such as token approval, settlement, repayment, or refinance.
What is the difference between Testnet and Mainnet?
This guide documents the Sepolia testnet deployment. Test tokens have no monetary value, while assets on Ethereum Mainnet do. Constant Finance should not be assumed to be available on Mainnet unless a documented deployment says so.
Token & Wallet Issues
Why don't my test tokens appear in MetaMask?
MetaMask may not detect custom tokens automatically:
Open Manage tokens → Add a custom token.
Paste a contract address from the faucet-token table in Section 1.
Review the detected token details and select Add token.
Why can't I switch to Sepolia?
Open All default networks in MetaMask.
Select Manage networks and enable Show test networks.
Return to the network list and select Sepolia.
Position Issues
What should I do if my Health Factor is falling?
A change in collateral value or an increase in accrued debt can lower the Health Factor. Review the Position promptly. You can strengthen it by adding collateral or reducing the outstanding debt through repayment.
What happens during liquidation?
An eligible liquidator repays debt in exchange for collateral under the protocol's liquidation rules. A partial liquidation may leave the Position open. A liquidation that clears all debt closes the Position and returns any remaining collateral according to the Position lifecycle.
Next Steps
Explore the dashboard to monitor your Orders and Positions in one place.
Review the Concepts to understand matching, supplier claims, repayment, refinance, and liquidation.
Check Deployment for the documented network, contracts, and current testnet boundaries before testing.
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