Redemption
Redeem oneTokens for exactly $1
Last updated
Redeem oneTokens for exactly $1
Last updated
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.
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
