[Testnet] Mint USDX with your BNB using Cosmostation Wallet
By: Scott Stuart
Tags: Binance, Product, Partner, Bitcoin, Cosmos

1. Create Kava Testnet Wallet From New Cosmostation Wallet Install

If you have already setup a Cosmostation wallet for Android or iOS before, then please proceed to Step 2 below.

Step 1: Setup your Kava Testnet wallet from fresh install

After opening up the Cosmostation wallet from a fresh install:

a.) Left screen: Press the [Create] icon at the bottom of the screen to begin creating your wallet.

b.) Right screen: Press the [Kava Testnet] icon at the bottom of the list to create your Kava Testnet wallet.

Create and store your Mnemonic and PIN

c.) Left screen: A Kava testnet wallet will automatically be generated. Press the [Show Mnemonic] to begin the process of recording and storing your wallet mnemonic.

d.) Right screen: Cosmostation enforces that you create and safely remember a PIN for executing transactions. Enter the PIN twice, the PIN consists of 4 numbers and 1 letter.

e.) Once the PIN is successfully entered twice, you will be able to view your mnemonic for safe storage.

As the ⚠️ Warning indicates, you need to save your Mnemonic in a safe place. Losing your mnemonic may lead to permanent loss of your wallet assets. You should also store your Cosmostation PIN in a safe place as well.

Congrats! You have successfully created your Kava Testnet wallet. Bonus! You may proceed directly to Step 3 and get some KAVA testnet tokens!

2. Create Kava Testnet Wallet From Existing Cosmostation Wallet

Okay. Lets start by creating your Kava Testnet Wallet from your existing Cosmostation wallet app!

Step 2: Create your Kava Testnet Wallet

a.) Left screen: Press the [Switch Wallet] icon in the upper right corner of your dashboard.

b.) Middle screen: Select [KAVA TEST] then press the [+] button.

c.) Right screen: Create a new Kava Testnet wallet.

d.) Input your pin to create Kava Testnet Wallet. Remember to always safely store you wallet Mnemonics.

3. Get Testnet KAVA From Faucet

Next, you’ll get some testnet KAVA from the ‘faucet’.

Step 3: Get testnet KAVA from faucet

a.) Left screen: Press the [TOKENS] tab.

b.) Right screen: Press [FAUCET] icon. Testnet KAVA tokens will be automatically sent to you!

Return to wallet. Congrats you now have KAVA testnet tokens!

4.) Create Binance Testnet Wallet

Step 4: Create Binance Testnet wallet

a.) Left screen: Press the [Switch Wallet] icon in the upper right corner of your dashboard.

b.) Middle screen: Select [BINANCE TEST] then press the [+] button.

c.) Right screen: Create a new Binance Testnet wallet.

Enter your pin to create the Binance testnet wallet. Remember to always safely store your wallet Mnemonic.

5. Get Testnet BNB From Faucet

Step 5: Get testnet BNB from faucet

a.) Left screen: Press the [TOKENS] tab.

b.) Middle screen: Press [FAUCET].

c.) Right screen: Testnet BNB tokens will be automatically sent to your wallet!

6. Transfer testnet BNB to Kava platform

In order to mint USDX with you BNB, you must transfer the BNB to the Kava wallet. Yes, your Kava wallet can hold multiple coins!

Step 6: Transfer BNB to Kava platform

a.) Left screen: Press [Interchain] button in the main dashboard - [Wallet] icon in bottom navigation. Note: We are doing this from your BNB testnet wallet

b.) Middle screen: Set destination chain as [KAVA Testnet]. Press [Next]

c.) Right screen: Select recipient address. Note: You must have a Kava Testnet wallet, if you don’t please see Step 1. Press [Next]

Complete the transfer of testnet BNB to your testnet Kava wallet

d.) Left screen: Enter amount of BNB to send from Binance Chain to your Kava wallet. Press [Next].

e.) Middle screen: Check transaction details and press [Confirm]. Enter your PIN to begin “interchain” transaction.

f.) Right screen: Do NOT close app while transactions are being submitted. Please note that interchain transactions may take longer than regular transactions.

Check details of your ‘interchain’ transaction

Once the interchain transaction is complete you will see the transaction details.

g.) Left screen: Press [Check Destination Wallet] to confirm you BNB is now on the Kava platform.

h.) Right screen: Confirm your BNB is now on the Kava platform. You’ll see a small “K” icon on the top right of your BNB icon to indicated that your BNB is in your Kava wallet and ready to use for minting USDX!

Excellent. Now you have 2 coins in your Kava wallet: KAVA and BNB!

7. Create Kava CDP And Mint USDX

Now for the big payoff, minting USDX with your BNB!

Step 7: Begin creating your Kava CDP

a.) Left screen: Open your Kava testnet wallet by pressing the [Wallet] icon in the bottom navigation. Press [CDP Market] in the main dashboard of your Kava wallet.

b.) Middle screen: Select [All Products] in the top menu toggle, then select [BNB : USDX].

c.) Right screen: Press [Open CDP]

Enter amount of USDX you wish to mint

d.) Left screen: Enter the amount of BNB you wish to collateralize. Press [Next]. Enter the amount of USDX you wish to mint and press the button in lower right to proceed.

e.) Middle screen: Read the pop-up carefully before confirming the transaction. On the next screen you may insert a memo but this is optional -likely not needed for you, press [Next] to proceed. Finally select the transaction fee, any amount should work, and press [Next].

f.) Right screen: Check transaction detail and press [Confirm]. Enter PIN to complete transaction.

Outstanding! You have now minted USDX with your BNB!

Check on the status of your CDP

g.) Left screen: You may review transaction details and press [Dismiss] to proceed.

h.) Middle screen: Go to you Kava wallet, by selecting [Wallet] from bottom navigation. Press [CDP Market] and select [My CDP] to check on the status of your CDP! You can view more details about your open CDP by pressing the CDP item itself.

i.) Right screen: Scroll down to ‘My CDP Information’ to read and manage your CDP.

From here you can deposit more BNB into your CDP, withdraw excess BNB from your CDP, borrow more USDX, or repay USDX!

To navigate back to your Kava Wallet, press [< CDP Status] in top navigation, and then press [< CDP Market]. Pro Tip: You actually have to press the [<] button in the “< CDP Status” to navigate back.

Nothing like freshly minted USDX

j.) Final screen: Go to the [TOKENS] tab to check the current balance of your minted USDX.

From here you can now send USDX and receive more USDX for whatever it is you want to do!

Now that you’re a USDX minting pro, start earning USDX Minting Rewards by registering now at https://www.kava.io/registration!