Stablecoin Hub

Mint and Redeem

This is a step by step explanation of how to Mint and Redeem.

Steps:

Step 1: Connect your wallet

Step 2: Opt-in to App

Step 3: Enter USDC amount

Step 4: Opt-in to TAU or EINR asset

Step 5: Mint TAU or EINR

Step 6: Redeem

Step 7: Buyback

Step 8: Recollateralize

Step 1: Connect your wallet

Step 1.1 Connect wallet

Click on connect wallet which triggers the myAlgoWallet or Pera wallet based on the selection of wallet.

Step 1.2 Select Address

Select a address that you want to connect to the website and access the TAU app to mint TAU.

Step 1.3 Manage address

Once you click on the address displaying button on the top right of the webpage a pop-up will appear in which you can find a menu named as “Change Account”. If you click on change account, the myAlgoWallet or Pera wallet triggers again and you can change your address in the wallet.

Step 2: Opt-in to TAU app

The App Opt-In will asks you to sign the app opt-in transaction. Once you sign the transaction your address will be opted in to the TAU app.

Step 3: Enter USDC amount

If you enter USDC amount in the USDC input box, The ELEM input box and TAU or EINR input box will show you how much you need to send and receive respectively.

Step 4: Opt-In to TAU or EINR asset

After verifying the amount you want to receive in the TAU or EINR input box, Now you need to Opt-In the TAU or EINR asset to receive it to your account. This transaction opt-in the TAU or EINR asset to your account.

Step 5: Mint TAU or EINR

Now you can mint TAU by clicking Mint TAU button which will asks you to sign a atomic transfer. Once the transaction is signed your address will receive the mentioned amount of TAU asset.

Step 6: Redeem

Once you decided to return TAU or EINR and get back the USDC and ELEM assets. You need to go to “Redeem”. In which here will be a input box for TAU or EINR asset to enter amount you wish to return, Once you enter TAU or EINR amount “Redemption fee”, “USDC” and “ELEM” that you will receive will be shown in the right side box. After verifying that you can click “Redeem” button and get USDC and ELEM to your address. The “Redemption Fee” is a service charge.

Step 7: Buyback

The user can give ELEM asset and get back the equal amount of USDC in Buyback.

Step 8: Recollateralize

The user can give USDC asset and get back 5% discounted amount of ELEM in Recollateralize.