Guide: How To Mint USM
Guide: How To Use DEX
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To mint USM, the user deposits collateral on the Borrow page at 📍 apps.standard.tech/borrow
Borrowed quantity of USM = Market value of the collateral (using oracle price feed) / collateral ratio
The borrowed amount is the quantity of USM, not based on the market value of USM. Meaning, USM is always minted at $1. USM is always paid back at $1 as well.
Example - If the collateral value is $200 and the collateral ratio is 200%, 100 USM are minted. (Note that the market price of USM may not exactly be $1.)
Step-by-Step Guide: How to Mint USM
Go to apps.standard.tech/borrow, connect with your wallet, and select “Rinkeby” network, the Ethereum testnet.
Step 1: Select a collateral
Select the assets as collateral. In the testnet version, ETH will be the only selection.
Step 2: Collateralize
Step 1: Choose your deposit amount, in this example, we select 0.1 ETH
Step 2: Set a collateral ratio, the minimal collateral ratio of this asset is 150%, and in this example, we can increase it to 200% to be more safety
Step 3: Confirm USM borrow amount and Borrow. On the right panel, users can confirm the collateral price and liquidation price of the collateral assets, the oracle price of USM as well as your total market debt value of USM.
Step 3: Confirm Transaction
Confirm your transaction and USM will appear in your wallet. Congrats! You have now successfully mint USM! Next, you can