redeem fxTokens for collateral on a 1:1 ratio. testnet currently only supports minting and burning of fxAUD with Kovan testnet ETH (KETH) collateral.
redeem page allows any fxToken holder to redeem 1:1 for lodged collateral at a 1:1 ratio generating arbitrage return potential and supporting a return to parity during volatility. To redeem; via the redeem route, select redeem and fxTokens will be burned with the corresponding amount of collateral less any fees delivered to your wallet.
Note: executing this function via the 'redeem' button will return an error message "no underwater vault available for redemption" as there are no underwater vaults on the testnet and the c-ratio of the entire ecosystem is sound - this is not a bug. The redeem function can only be performed when there are vaults that are under-collateralised.
Last modified 6mo ago
Copy link