Minting USDFC Step-by-Step
A comprehensive guide to minting USDFC stablecoins
Last updated
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A comprehensive guide to minting USDFC stablecoins
Last updated
Was this helpful?
An active Trove with FIL collateral
Access to the
Connected wallet with enough FIL for gas fees
Minting USDFC allows you to generate dollar-pegged stablecoins against your FIL collateral. This guide walks you through the process of minting USDFC from an existing Trove.
First, you need to access your existing Trove in the USDFC application.
Navigate to the
Connect your wallet if not already connected
Go to the "Trove" section on the USDFC Dashboard page
You should see your current Trove details including collateral amount, debt, and collateral ratio
"Debt" is the Total debt = Borrowed amount + Borrowing Fees (cumulative)
To mint additional USDFC, you need to adjust your Trove.
Click on the "Adjust" button
This will open the Trove adjustment interface
Now you need to specify how much additional USDFC you want to mint.
In the adjustment interface, locate the "Collateral" and "Net debt" input fields
Enter the amount of Collateral and USDFC debt you want to adjust
The system will automatically calculate your new collateral ratio
Ensure your new collateral ratio remains above the minimum required (recommended 150%)
Before confirming, review all transaction details carefully.
Check the additional USDFC amount you're minting
Verify your new collateral ratio
Review any fees that will be applied
Ensure you understand how this affects your liquidation risk
Once you're satisfied with the details, you can proceed with minting.
Click the "Confirm" button
Confirm the transaction in your wallet
Wait for the transaction to be processed on the blockchain
After the transaction is confirmed, verify that your USDFC was minted successfully.
Check that your Trove details have been updated with the new debt amount
Verify that the additional USDFC has been added to your wallet balance
Check that your wallet balance reflects Borrowing Fee subtracted
Now that you've minted USDFC, you can:
Transaction Failed: Ensure you have enough FIL for gas fees and that your collateral ratio meets the minimum requirement
Cannot Mint More USDFC: You may have reached the maximum debt for your current collateral amount
High Gas Fees: Try again when network congestion is lower or adjust your gas settings
Q: Is there a limit to how much USDFC I can mint? A: The amount of USDFC you can mint is limited by your collateral amount and the minimum collateral ratio requirement.
Q: Are there any fees for minting USDFC? A: Yes, there is a small minting fee that varies based on the current base rate. This fee helps maintain the stability of the protocol.
Q: How does minting more USDFC affect my liquidation risk? A: Minting more USDFC without adding collateral increases your debt, which lowers your collateral ratio and increases your liquidation risk.
Q: Can I mint USDFC in small increments? A: Yes, you can mint USDFC in any amount as long as your collateral ratio remains above the minimum requirement.
If you don't see the additional USDFC in your wallet, you may need to refresh or check your transaction history on your wallet or
to adjust your risk level
to stay informed about your Trove's health
to earn rewards
for FIL when you're ready
