This guide will explain how to Mint the stablecoin of the Arable Protocol $arUSD. You can mint and earn swap fees just by depositing collateral in the Arable App.
Minting is available on Avalanche and Acrechain.
When minting on Acrechain you will need $ACRE as gas fees for the transactions. $ACRE is the gas token of Acrechain. There are various options to buy $ACRE on different chains and here are the step-by-step guides currently available:
- Buying Acre on Osmosis
- If you have $ACRE available on Avalanche you can follow the guide on how to Bridge Acre to Acrechain
Depositing Assets and Minting arUSD
Click the Deposit Tab
On the bottom of the page, click on the dropdown beside collateral asset and choose which asset you want to Deposit.
Note: Different chains will display different assets available for collateral
Enter the amount of the asset you want to deposit and click Deposit. A signature request will prompt from the Metamask, click on CONFIRM
Click the Borrow/Mint Tab. You will now be able to see the Collateral Value, Maximum Debt, and other details of your collateralized asset. Enter the amount of $arUSD you want to mint and click MINT. A signature request will prompt from the Metamask extension, click on CONFIRM
You have now successfully minted $arUSD. You can use this stablecoin across different derivative products in the Arable Protocol.
Repaying Debt and Withdrawing Assets
This Section will explain how to Repay/Burn the $arUSD you minted and withdraw the funds you deposited as collateral.
Repay/Burn & Withdraw
Click the Repay/Burn Tab
Enter the amount of $arUSD you want to burn. Click the BURN button. A signature request will prompt from the Metamask, click on CONFIRM. This will now allow you to withdraw your collateral asset.
Go to Withdraw Tab
Enter the amount of the collateralized asset you want to withdraw. Click the WITHDRAW button. A signature request will prompt from the Metamask, click on CONFIRM.
You can refer to this Medium Article for an in-depth guide on how to utilize Osmosis for $ACRE and $arUSD.
The minting process for $arUSD is a simple and convenient way to earn interest on deposited assets and obtain a stablecoin for use in the protocol. By depositing collateral assets and minting $arUSD, users can take advantage of the Arable Protocol's various derivative products. The availability of various collateral assets and $ACRE on different chains makes it accessible to a wide range of users.