Devnet
How to Use Guide for BQ Labs Devnet
This guide provides a step-by-step walkthrough of how to use the BQ Labs devnet, currently deployed and integrated on Bitlayer, Core, Merlin. The devnet is currently in a closed access phase and supports desktop browsers only, with plans for support across multiple devices in future versions.
1. Device Support
The current devnet version is supported only in desktop browsers.
Future versions will expand support to multiple devices.
2. Install Wallet
To use the application, users must install the supported wallet browser extension ( Metamask, Gate, Bitget, OKX )
3. Import Testnet into MetaMask
Add the respective testnet to your wallet by navigating through the documentation or https://chainlist.org/.
Manually input the custom RPC details into the wallet.
4. Get Faucet Tokens
To interact with the devnet, users need the respective chains native assets for gas fees. Bitlayer - https://www.bitlayer.org/faucet Core - https://scan.test.btcs.network/faucet Merlin - Visit Merlin discord and get faucet tokens
We have created a test version of BTC ( bqBTC ) to purchase cover, provide capital into cover and claim loss amount. Users can get bqBTC from https://dev.bqlabs.xyz/
Risk assessors or members who would like to be a part of this assessment can use BQ test tokens to vote for proposals. Users can get BQ from https://dev.bqlabs.xyz/governance
5. Access BQ Labs Devnet
The devnet can be accessed via BQ Labs Devnet.
As this is a closed access devnet, users must obtain a password from the BQ Labs team or through Discord.
Core Features and Modules
Purchase Cover Flow
From the navigation bar, click on the "Purchase Cover" button.
Browse cover products based on different risk categories.
Select a cover product and input the cover amount and duration via a slider.
The premium price will be dynamically calculated based on the cover product.
Click on “Buy Cover” and complete the on-chain transaction using bqBTC tokens for both premium and native chain token for gas fees.
After purchase, users can view their existing covers under the “My Cover” section.
Claim Module
Users can submit a claim if they face a loss event and have an active cover.
To claim, go to "My Cover" or directly to the claim module via the navbar.
Provide necessary details for claim assessment: claim event date, claim amount, transaction hash, and description. Note: For testing in devnet, random details can be used for the claim process.
Submit the claim and complete the on-chain transaction.
The claim status will be updated, and the claim request will be submitted to risk governance for voting. Based on voting results, users can either withdraw the claim amount or resubmit the request.
Pools Module
Underwritten capital for cover products comes from staking pools. Users with idle assets can deposit bqBTC to earn yield and provide capital for underwriting risks.
From the navbar, go to the “Pools” section and select the stake option from the dropdown.
Users can view four different pools, each offering different APYs. Quick staking is available by clicking “Stake” and entering the deposit value.
For more detailed risk distribution, users can click on "Details" for in-depth information about each pool and stake through the detailed information page.
After staking, users can view their positions in the “My Stake” page, where they can claim yields and withdraw after the tenure period.
Governance
Risk assessors who hold BQ Tokens in their wallets can vote on claim proposals.
Users can obtain BQ Tokens from the faucet.
Assessors can vote to “Accept” or “Decline” a claim proposal, determining the outcome of the claim process.
Reference demo video
For a step-by-step guide on how to use our platform, please refer to the demo video linked below. This video provides a comprehensive explanation of the product’s features and a detailed walkthrough of the platform. Watch the Demo Video Here
https://x.com/BQ_Labs/status/1844792430383546602
Troubleshooting
If users face any difficulties or require support while using the application, they can reach out to the BQ Labs team via Discord for assistance.
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