Minting
Last updated
Last updated
For a smoother and more cost-effective user experience, you can mint your scAssets directly on Sonic, here.
To start, you have the option to mint (app.rings.money/mint) scAssets using supported tokens on the Ethereum mainnet, such as DAI, USDC, and USDT. When you deposit a token, you can mint an equivalent amount of scAssets. For example, depositing 1 ETH allows you to mint 1 scETH, while 1 USDC lets you mint 1 scUSD. This process is fee-free, enabling you to convert your assets without incurring additional charges from Rings Protocol.
After minting on Ethereum, if you wish to utilize these scAssets on Sonic Mainnet, you'll need to transfer them through the Rings Bridge (app.rings.money/bridge) . This bridge transaction, while being straightforward, can be more costly due to the transaction fees associated with the Ethereum network.
Alternatively, you can choose to mint (app.rings.money/mint) scAssets directly on the Sonic platform. This method can be more cost-effective as it circumvents the higher gas fees typical of Ethereum transactions. With this approach, you deposit USDC or wETH directly on Sonic, and your scAssets are minted on the spot.
When minting scAssets on Sonic, the underlying assets are subsequently bridged to the Ethereum mainnet, where they are deposited into the Veda BoringVault to integrate with the broader protocol.
