Opening Collateral Vaults and Minting thUSD

Steps to Open Collateral Vaults and Mint thUSD

  1. Access the thUSD App Interface:

  2. Open a New Vault:

    • Go to the “Borrow” menu, choose tBTC or ETH as your collateral, and select "Open a Vault".

  3. Deposit tBTC or ETH:

    • Specify the amount of tBTC or ETH you wish to deposit as collateral. Ensure the deposited amount meets the minimum collateral requirement of $2,000 ($1,800 minimum debt + $200 liquidation reserve) + transaction fees.

  4. Set the collateral amount:

    • Set your desired collateral amount. Ensure it meets the minimum required ratio of 110% of your debt.

  5. Mint thUSD:

    • Enter the amount of thUSD you wish to mint based on your collateral and collateralization ratio.

    • Review the details of your vault, including the collateral amount, collateralization ratio, and minted thUSD.

    • In case of tBTC as collateral, approve tBTC expenditure.

    • Confirm, and authorize the transaction to mint thUSD.

  6. Manage Your Vault:

    • Monitor your vault on to ensure it remains adequately collateralized. You can adjust collateral and debt position to adjust the collateralization ratio or repay thUSD as needed.

Last updated