Metamint $YU
Last updated
Last updated
During the MetaMint process, Bitcoin is first wrapped into YBTC and used as an intermediary.
The Stake feature allows users to deposit BTC to obtain YBTC, which can be used to mint $YU.
Steps to Obtain YBTC:
On the MetaMint $YU page, click on the upper right button which displays your current YBTC balance.
Enter the amount of BTC you want to stake in the provided input box.
Review the exchange rate, staking fee, and estimated confirmation time. For security reasons, our confirmation requires 6 blockchain confirmations which may take up to 60 minutes.
Click the Submit button to initiate the staking process.
Approve the transaction in your BTC wallet.
Wait for the staking process to complete. Once confirmed, your staked BTC will be converted into YBTC and reflected in your YBTC balance.
To view your transaction details, you can naviagete to the "In And Out History" under the Portfolio page.
Please note: Your stake or unstake will be shown in this section after 5 to 10 minutes of your submission.
The Unstake feature allows users to convert their YBTC back into BTC.
Steps to Unstake YBTC:
On the MetaMint $YU page, click on the upper right button which displays your current YBTC balances.
Enter the amount of YBTC you want to convert back to BTC.
Click the Submit button to confirm the unstaking process.
Approve the transaction in your wallet.
For the first time user, you need to approve the spending cap for unstaking.
Wait for the process to complete. The converted BTC will then appear in your BTC wallet balance.
For transaction details, navigate to In and Out History.
Please note: Your stake or unstake will be shown in this section after 5 to 10 minutes of your submission.
After you obtain the YBTC, you can use it to mint $YU
Enter the amount of YBTC you want to deposit. The maximum amount of $YU that can be minted will be displayed. You can enter the $YU you want to mint under the Value tab. Alternatively, use a slider to choose a Collateralization Ratio to mint the corresponding amount of $YU under the Percentage tab.
Please ensure that the collateral ratio calculated after entering $YU exceeds the minimum collateral ratio. The collateral ratio of the value you enter can be viewed in the "Vault Changes" panel.
Click on "Create Vault."
For first-time users, you will need to approve YBTC allowance spending. We strongly recommend approving a larger YBTC spending amount based on your anticipated needs to ensure future convenience and avoid unnecessary gas fees each time you approve.
Confirm the transaction in your destination chain wallet and wait for the vault to be created.
Once the process is complete, the $YU token will appear in your wallet’s destination address. You can also check your transaction history by visiting the 'Portfolio' section under 'Transaction History'. To ensure proper display, please add the $YU token to your wallet."
