Donkey (ENG)
0. Creating a Wallet
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Donkey is a DeFi service that runs on the Ethereum blockchain. So installing an Ethereum wallet is a must.
Getting prepared may take a bit of effort, but once you get it done, you'll instantly become one of the world's top 1% of pioneers who have traded directly on the Ethereum blockchain. You can be proud of it, and enjoy the opportunity to mine DON tokens faster than anyone else. Let's start. 10 minutes will be enough to learn all that you need to know.
Donkey only supports the desktop version at the moment. There is no mobile version yet. So we will explain how to create a wallet via desktop and use Donkey one step at a time.
Search for “MetaMask” on Google and click on the first link. Make sure the URL is Watch out for fake websites and scammers.
On the official MetaMask website, click Download now.
Choose Chrome for your browser. If you don’t have Chrome installed, Please do so first
When you click Install MetaMask for Chrome, the above screen will appear. Click Add to Chrome.
Click Add Extension. Don’t give up!
Click Get Started.
Click Create Wallet.
Then click Fine.
Create a Password. This is going to be your wallet password, so please keep it safe.
After watching the video clip, click Next.
Click on the lock as shown above to see a combination of words. Take a picture of this or copy and paste it into a notepad. Then click Next.
Please select in order the combination of words you have just saved. When you are done, write down the combination of words in the photo or the notepad on a piece of paper or keep it in the safest way preferred (do not store it on your PC/smartphone, or online). If you know this combination of words, you can get your wallet back even if you forget your password later.
Congratulations. You have created your wallet!
On the top right corner of the Chrome browser, you will see a button shaped like a puzzle piece. If you click that button, you will see that MetaMask has been added. Click the pin button, and a fox icon will be added to the left of the puzzle piece button.
Now click on the fox icon that was just created. This will run the MetaMask wallet that we have just installed.
Once the wallet runs, click the box labeled as “Account1” on the top. It will copy your wallet address to the clipboard.
Now it’s time to transfer your cryptocurrency from cryptocurrency exchanges like Binance, Coinbase, and Coinlist to the wallet you have just created. Above is the screen showing ETH withdrawal on Coinlist. Select the amount you wish to withdraw, and it will take you to the screen shown above. In the Recipient address section, paste the MetaMask wallet address that you copied to the clipboard in the previous step.
After that, click Review” and click Request withdrawal to start the withdrawal.
Make sure to check again that the address you just copied from Metamask and the address you pasted here are the same. Please note that you should not send any cryptocurrency to the MetaMask address. Only ETH and ERC-20 tokens of the ETH family can be sent to MetaMask.
As all tokens listed on Donkey are ERC-20 tokens of the ETH family, you can select the coin of the same name on Coinlist and request withdrawal to the Metamask address you have just created.
There's a very important word of caution that must be addressed.
If you wish to deposit cryptocurrency other than ETH (like USDT or MANA) in Donkey, you should withdraw it and deposit to your MetaMask wallet address and then purchase and send a small amount of ETH to the same Metamask wallet address once more.
This is because Donkey is a service that operates on Ethereum and for depositing and borrowing ETH-based ERC-20 tokens, fees must be paid in ETH, which is the key currency of Ethereum.
Just as you need to take US dollars to spend in the US, those (miners) working on the Ethereum blockchain primarily accept ETH. Hence we need to pay a certain amount of ETH in order to make them do what we ask them to do.
This can make you take some extra steps, but please believe that it will be worth it with Donkey. Make sure to deposit your non-ETH cryptocurrency and additionally purchase and send ETH to your Metamask wallet.
The process may vary slightly by exchange, but it generally takes 10-20 minutes for the withdrawal to be completed and deposited to the MetaMask address. While ETH is already registered in the MetaMask wallet by default, other cryptocurrencies need to be added separately. So if you send tokens other than ETH like AXS or CHZ on Coinlist and don’t see it on your wallet for a while, don’t panic and just make sure to click Import Token as on the screen above.
If you enter the token’s contract address of the token that you have just requested for withdrawal in Custom Token, the “Token Symbol” and “Token Decimal” will automatically be updated. To retrieve the token contract address for your token, please copy-paste it from the address list below.
Contract Address
After entering the address, the token will be added to the MetaMask wallet as above. If you have already made the withdrawal from the exchange, your balance will be displayed.
Good job! Now you are in the top 1% pioneers who reached Korean crypto market. You have successfully created an Ethereum wallet and sent your cryptocurrency from the exchange to your wallet. That's great!
Now you are ready to make deposits in Donkey and start mining DON tokens. Once you deposit your cryptocurrency in Donkey, you can borrow other cryptocurrencies using the deposit as collateral. The cryptocurrency that you borrow will be sent into your MetaMask wallet, which you can also sell back on an exchange like Coinlist.
If you expect its price to drop, you can sell it on the exchange, and then buy and pay it back to Donkey after the price falls. That margin will become your profit.
Now, let’s jump into how to use Donkey.
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