Quant Overledger Network recently detailed out the steps one needs to take to participate in the Community Treasury Public Test.
While the process set by Quant Network is comparatively easy, it is still important to follow a step by step guide. In this article, we present one such guide.
Overledger Network – Running TestQNT Payment Channels with Treasury
– How to use Payment Channels with Treasury
– How to approve the Treasury smart contract to start using payment channels
– PC Scripts:https://t.co/YEWQce0jC0https://t.co/ocF2Oo9Uo8#OVN #NetworkofNetworks #QNT pic.twitter.com/v7SH0ltorC— Overledger Network (@OverledgerNet) August 4, 2020
Basics:
To interact with the treasury, the process needs two Ethereum addresses:
- QNT Wallet: The stakeholder’s wallet holding Quant. You will receive your Testnet QNT here
- Operator Wallet: The stakeholder’s address that can call functions on the treasury smart contracts
The following steps will show you how to
- Lock QNT in the payment channel and escrow deposit contracts
- Off-chain payments process through a payment channel
- Reclaim un-used QNT from the payment channel and escrow deposit
Step 1:
- Sign up to the Developer Program
- Acquire a MApp ID and BPI key to use the associated scripts
- Have Node.js 10 installed
This entire process is detailed out in Github, Interact with the Treasury. Complete all the pre-requisites listed on the page.
Step 2:
Both the wallets will require Ropsten ETH. Add your Ropsten address. Add both the QNT Wallet and the Operator Wallet. You will receive Ropsten Testnet ETH for both the addresses. Note: Do not re-use the input address in Ethereum Mainnet later. Ensure security of your private keys.
Go To the Dev Portal à Manage Wallet à Put both the addresses
Step 3:
Approve the treasury factory smart contract. The smart contract address is given in the tweet below:
2/ You can now interact with the Treasury smart contracts.
The first step is to approve the treasury factory smart contract at address:
0x4a42aa05fb7cd58e9e388c82ec11b811bdf5ada7
to move QNT into your payment channel and escrow deposit smart contract.
— Overledger Network (@OverledgerNet) August 6, 2020
Once you get Testnet QNT, you will need to move it into your payment channel and escrow deposit. This is performed by the treasury factor smart contract.
Rules include:
- Testnet QNT approved <=100, then all will go into the payment channel
- Testnet QNT approved>100, the 100 QNT will go into the payment channel and the rest will go to your Escrow Deposit contract.
Possible ways to approve the treasury factory to take the funds include:
- Via Etherscan wallet integration (e.g; Metamask)
- Via Script
- Through Dev Portal (In future)
Find the scripts and examples of how to interact with the treasury on the Ropsten testnet in the GitHub link.
Step 4:
Start testing payment channels. If your payment channel expires, you can withdraw your QNT from both of your payment channels and your escrowed deposit contract. To do so, you need to send an on-chain transaction to invoke the reclaim QNT function of your payment channel smart contract. State the amount of QNT that you want to withdraw.
Also, refer to the Quant video to get more details.
Quant Overledger Network is the world’s first DLT operating system for Enterprise. It delivers interoperability between different DLTs, business applications, and networks.
Further Reading:
We have extensively covered Quant on our website:
1.Quant Network Review | Overview & Partnerships
2.Quant Network Review | Overledger & Products
3.Quant Network Review | QNT Utility & Tokenomics
4.Quant Network Review | CEO & Team
Check out our most recent coverage of Quant Network on the Altcoin Buzz Youtube channel.
