Minting & Redeeming USDs
Users can mint USDs from their collateral (USDC.e, USDC or USDT). The Mint page will automatically reflect the amount of collateral and SPA required to mint USDs (Currently, no SPA required). Users can redeem USDs for a collateral of their choice.
Minting USDs
Make sure your wallet holds eligible collateral (USDC, USDT or USDC.e).
Go to the dApp homepage and connect your wallet.
Select the collateral and enter the amount of collateral that you want to deposit.
View the Latest Auto-Yield APY before proceeding.
The app will automatically show how much USDs you can mint. Then click on ‘Mint USDs’ and review ‘Max Slippage’.
Then, you have to approve 2 transactions on your wallet - Approve and Sell USDC - after clicking ‘Confirm’.
You can now view your USDs balance in your wallet.
Redeeming USDs
Go to the dApp homepage and connect your wallet.
Select the Redeem tab and enter the amount of USDs you would like to redeem.
You can also select the maximum slippage for the transaction and then select the token in which you want to redeem. You can view the redemption fee and redemption amount as well.
Now, click on 'Redeem USDs' to redeem.
Click on 'Confirm' and unlock USDs transfer by providing required consent.
Then approve the transaction and your USDs will be redeemed succesfully.
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