Get started

The Precept app is at precept.templarfi.org. It reads every figure from the Stellar network and sends transactions from your own wallet. Nobody else holds your keys, so nobody can recover them or reverse a transaction for you.

The app says supply where these docs say lend. Read the short version of the risks before you put money in.

What you need

  • A Stellar wallet. The app works with Freighter, xBull, Albedo, LOBSTR, Hana and MetaMask.
  • XLM. Every transaction pays a small network fee in XLM, and a Stellar account has to keep a minimum XLM balance. An account that has never been funded does not exist on the network yet, so send it XLM first.
  • The asset you want to use. That means USDC to lend, or XLM or deJAAA to post as collateral.

Connect your wallet

  1. Open the app and select Connect wallet.
  2. Choose your wallet and approve the connection. This signs nothing and moves nothing.
  3. Check that the wallet is on Stellar mainnet. If it is on another network, the app shows a warning. Switch networks before you sign anything.

Your wallet asks you to confirm each transaction, and the app shows Confirm in wallet… while it waits. Once the transaction is through, the panel shows Settled with a link to it.

Choose a market

Markets lists each market, and selecting one shows its assets. Compare the pool address with Official markets before your first deposit. Selecting an asset opens its page, with the action panel and the reserve's rates, utilization and parameters.

Lend

  1. Open the USDC reserve of the market you chose and stay on Supply.
  2. Enter an amount. Max stops at your wallet balance or the room left in the market, whichever is lower.
  3. Untick Use as collateral if you only want to lend. USDC counts for nothing as collateral in the official markets, and collateral has to meet a minimum position that plain supply does not.
  4. Select Supply and confirm in your wallet.

Your position appears on My Account, and its value grows as interest accrues. There is nothing to claim. Lending explains how you earn and what you can lose.

Withdraw

  1. On My Account, find the position and select Withdraw.
  2. Enter an amount and confirm in your wallet.

Max can be less than your position when most of the reserve is lent out, because only the reserve's unborrowed cash can leave. The rest stays supplied until borrowers repay or new lenders deposit. If you hold the asset both as collateral and as plain supply, a checkbox lets you choose which one to withdraw from.

Borrow

  1. Open the USDC reserve of the market you chose and select Borrow.
  2. If you have no collateral in this market, add it in the panel. It is supplied in the same transaction as the borrow.
  3. If the panel says No trustline for USDC, select Add USDC trustline and confirm. Your account cannot receive USDC without one. It is a separate transaction, and it raises your minimum XLM balance by 0.5 XLM.
  4. Enter the amount to borrow. The panel shows how much of your borrowing capacity it would use.
  5. Select Borrow and confirm in your wallet.

The app stops you below the point where you can be liquidated, at the limits on Official markets. That is not the same as being safe. Prices move and interest accrues, so read Borrowing and watch your position on My Account.

Repay

  1. On My Account, find the position and select Repay.
  2. Enter an amount and confirm in your wallet.

To clear the debt, use Max. It sends slightly more than the debt shown, because interest keeps accruing until the transaction settles, and the pool only takes what is owed. You need that amount of USDC in your wallet. Your collateral stays supplied until you withdraw it.

Move a position from another pool

The app can offer to move a position from a supported Stellar pool. My Account shows which positions can move. A move takes two steps: the old pool pays the assets out to your wallet, then you supply them to Precept.

The risks can differ between pools. Read Moving a position and Risks before you move.

If the app refuses an action

The app checks each action before you sign, and says why when it would fail.

What you see What it means What to do
Oracle price expired The market has no current price for an asset, so it cannot value a position. Borrows and withdrawals that depend on that price are refused. Wait for a new price. You can still repay.
No trustline for an asset Your account cannot receive that asset yet. Add the trustline with the button in the panel.
Restore needed first The network has archived some data this action touches. Select Restore entries, a separate transaction with its own fee, then repeat the action.
A launch limit on deposits The app caps deposits per market and across all markets while they fill. The panel shows the limit. Supply less, or wait until the limit is raised.
A borrowing limit The position is at the app's maximum loan-to-value for this market. Repay debt or add collateral.
A utilization ceiling The reserve cannot lend or pay out more until supply grows or debt is repaid. Use a smaller amount, or try again later.
Wallet is on another network Your wallet and the app are on different networks. Switch the wallet to mainnet before you sign.
RPC node not answering The app cannot read the network through its current endpoint. Try again shortly, or choose another endpoint in Settings.

To look at an account without connecting a wallet, set a watch address in Settings. For anything else, contact support.