borrow in multi-currency stablecoins by minting fxTokens
mint fxTokens with collateral deposited in the vault to hedge, speculate or make payments. testnet currently only supports minting and burning of fxAUD with Kovan testnet ETH (KETH) collateral.
You may deposit collateral on the dashboard (via the icon link under 'manage' in the 'collateral' section) or on the mint page if the fxToken amount request exceeds your current c-ratio.
Navigate to the 'mint' page, select the desired fxToken to mint, and enter the amount of fxToken you want to mint.
You may enter the value manually or select the 'MAX' function in the box.
The 'MAX' function will provide the maximum new fxTokens to mint based on your pre-existing collateral if your c-ratio > 200% OR the value of total collateral in your wallet at the minimum c-ratio of 200% (or whichever is higher if a user has already provided a value in the field prior to selecting MAX).
If you already have collateral in the vault then your c-ratio will be displayed prior to selecting an amount of fxToken you want to mint.
Once an amount of fxToken is selected then your c-ratio will update and any additional collateral required to achieve the minimum c-ratio of 200% will displayed below. The price and value of the required collateral in the denomination of the fxToken will also be displayed.
You may increase the amount of collateral required to achieve a c-ratio > 200% if you want additional margin against unfavourable price movements in the underlying collateral. You may adjust your collateral in the 'collateral deposit' box or by sliding the 'vault collateral ratio' bar (noting the minimum of 200%).
mint max fxAUD on max wallet collateral (note adjustment for gas*)
Once you have determined the amount of fxTokens you wish to mint and the amount of collateral to deposit then click 'deposit & mint' to perform the transaction and pay for gas via your connected wallet.
* If you have selected the MAX amount of fxToken based on the value of collateral in your wallet then you will need to reduce the fxToken amount slightly to ensure you have sufficient surplus of ETH to pay for gas. Note that this user experience is being addressed in a future release.
Once the transaction is complete then your fxTokens will be minted and your dashboard will be updated.
Add minted fxTokens to your Ethereum wallet with the following token addresses:
fxAUD: 0x0e3918bd80c74938d32fa2eeda170cc23f51faa4
Note: other fxTokens coming soon (alpha testing on fxAUD only)