Minting
Last updated
Last updated
To start, you have the option to () 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.
You can mint only from Ethereum or Sonic
The redemption delay is 5 days and can be cancelled.
It is possible to redeem scAssets at a 1:1 ratio with their underlying asset. To do this, you need to access the tab on the Rings app. Once there, select the scAsset you want to redeem and choose the underlying asset you wish to receive.