How to Mint & Redeem USX Using LSR
USX’s pegging mechanism is mainly maintained by Liquidity Stability Reserve (LSR), which enables 1:1 swap between USX and a number of supported stablecoins including USDC, USDT, DAI.
Below, we’ll have a walkthrough of how to mint and redeem USX using LSR.
- Please navigate to dForce and click on the Mint dForce Dapp
- Connect your wallet
Select a token from the drag-down list ( USDC, DAI,USDT).
Take USDC for example. Please enter the amount of USDC you would like to swap for USX, click on the ‘Approve’ button to get USX at 1:1 rate.
To redeem USX, please click on the switch button in the center to continue.
You can swap USX for any supported stablecoin at 1:1 rate (aka ‘redeem’) when there is sufficient liquidity. Please check liquidity of stable reserves on the respective blockchain before swap.
Kind reminder: it’s not guaranteed you will receive the same stablecoin for minting & redeeming.
- Please enter the amount of USX you would like to swap for another supported stablecoin (redeem) and click on the ‘Swap’ button (or ‘Approve’ for first-time user) to complete the process.
That’s it! Easy and fast. Happy minting & redeeming dForcians!
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