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Redemption

Redeem oneTokens for exactly $1

PreviousMintingNextCollateral Reserve

Last updated 3 years ago

Each oneToken (ie, oneBTC) can be redeemed for exactly 1 USDC (or other USD hard pegged stablecoin in the Collateral Reserve), less a redemption fee. A oneToken redemption can only come from the Collateral Reserve. The cryptocurrency paid to mint isn't repaid to any token holder by the system. Instead, it remains in a Community Treasury and each oneToken is a vote in deciding how to manage the community treasury.

Follow these steps to redeem ICHI stablecoins

1.Go to https://ichi.farm/#/mint to see the Minter in Figure 1.

2. Connect your Ethereum Wallet. If you are new to Ethereum, go here to learn about Ethereum wallets: https://ethereum.org/en/wallets/

3. Click Redeem

4. Choose a stablecoin to redeem

5. Enter an amount to redeem

6. Click Redeem to Redeem to USDC

7. Sign the transaction in your Ethereum wallet