🙋♂️Minting & Redeeming
Last updated
Last updated
In order to mint 1 xETH, the system requires 1 ETH and (1 - CR) will be converted to Particle/ETH LP.
For example - CR = 90% and you want to mint 10 ETH 9 ETH will be deposited into ETH pool reserve and 1 ETH will be converted to Particle/ETH LP (Protocol Owned Liquidity=POL)
When 1 xETH is redeemed, the system returns CR worth of ETH and (1 - CR) worth of Particle.
For example - CR = 90% If you want to redeem 100 xETH -> 90% will be returned as ETH and 10% as Particle
After both, Minting or Redeeming, you will have to additionally collect your minted or redeemed tokens. This mechanism was implemented to prevent flashloan.
If this transaction is canceled, you will need to proceed with the collection through the blockchain explorer directly on the pool contract.
There is a 0.35% fee for minting and 0.65% fee for redeeming, transferred to the Staking and Locking Distribution.
If you are using a Ledger to mint xETH you will have to enable Display Contract Data (debug data) to be able to Mint
