Secured Finance Docs
HomeBlogGitHubCommunityStablecoin ↗Fixed Income ↗
  • Introduction
    • ⚜️About Secured Finance
    • 🎏Vision & Mission
    • 🌍Ecosystem Overview
    • 🏁Roadmap
      • Roadmap 2024
      • Roadmap 2023
    • 📚DeFi Starter Guide
      • 🔄DeFi vs CeFi
      • 👛Wallet Setup
      • ⛽Gas Fees
      • 🤝DApps
      • 🏦DEX
      • 📝Smart Contracts
      • 🪙Governance Tokens
      • 🏛️DAOs
  • USDFC Stablecoin
    • 📢Overview
    • 🧙Getting Started
      • ⛽Creating Your First Trove
      • 👛Minting USDFC Step-by-Step
      • 🤝Managing Collateral Effectively
      • 🏦Monitoring Your Position
      • 🏊Using the Stability Pool
      • 💸Redeeming USDFC
    • 🔦Core Mechanics
      • 🏗️System Overview
      • ✏️The Trove System
      • 💰Mint & Borrow
      • 🚰Liquidation
      • 💸Redemption
      • 🧀Protocol Fees
    • 🎓Advanced Topics
      • 🚨Recovery Mode
    • 📔Contracts and Security
    • ❓FAQs
  • Fixed-Rate Lending
    • 📢Overview
      • 📖White Paper
      • 🎓Concept Paper
    • 🧙‍♂️Getting Started
      • 💵Lending Assets
      • 🏦Borrowing Assets
      • 📈Managing Positions
      • 🎮Platform Guide
        • 💰Trading
          • 💲Supported Currencies
        • 📈Markets
        • 🐋Portfolio
        • Bridge
        • 🚀Points
        • 📣Campaign
    • 🔦Core Mechanics
      • 🧩Order Book System
        • 🆎Order Type
        • 🪃Order Life Cycle
          • 💫Case Study: Order Status & Transition
      • 📐Standardization
        • 💠Zero-Coupon Bonds
        • ⏳Fixed Maturity
      • 🏋️Collateralization
      • 🪙Tokenization
      • 🚰Liquidation
        • ⚖️Mark to Market
        • 👮‍♂️Liquidators
          • ✏️How Liquidation Works
        • 📋Liquidation Case Study
      • 🧀Protocol Fees
    • 🎓Advanced Topics
      • 📈APR vs APY
      • ➗ZC Bond Price to APR
      • 📉Discount Factor
      • 🏋️‍♀️ZC Bond Collateral
        • 🏍️ZC Collateral Case Study
      • 🧬Market Dynamics
        • ♻️Auto-Rolling
          • 💰Price Discovery for Auto-Rolling
        • 🗓️New Market Listing and Delisting
          • 🤝Itayose - Fair Price Discovery
      • 🛡️Safety Measures
        • 🚦Circuit Breaker
          • 🛑Price Range Limits
        • 🪄Base Price Adjustment
        • 🌎Emergency Global Settlement
      • ⛓️Orderbook Deep Dive
        • 🎡Orderbook Rotation
        • 🎋Red Black Tree
        • ⏯️Lazy Evaluation
        • ⏮️Genesis Value
        • 🔄Compound Factor
    • 📔Contracts and Security
    • ❓FAQs
  • Developer Portal
    • 🧑‍💻Introduction
    • 🔌API Reference
      • 📈Fixed-Rate Lending Subgraph
        • 🔍Query Examples
    • 📦SDK Reference
      • ⛽Fixed-Rate Lending SDK
      • 👛USDFC SDK
    • 🐛Bug Bounty
  • Community
    • 🤝Overview
    • 🏛️Governance
    • 🪙Tokenomics
      • 🔵Secured Finance Coin (SFC)
      • 🔶Secured Finance Points (SFP) v2
        • 🔶Secured Finance Points (SFP) v1
    • 🎗️Support & Contacts
  • Resources
    • 🖼️Media Kit
      • 🖼️Secured Finance Logo
      • 💲USDFC Logo
    • ⚖️Legal
      • 📜Terms of Use
      • 🔒Privacy Policy
      • ⚠️Risk Disclaimer
Powered by GitBook
On this page
  • Prerequisites
  • Overview
  • Step 1: Access Your Trove
  • Step 2: Select "Adjust Trove"
  • Step 3: Specify Minting Amount
  • Step 4: Review Transaction Details
  • Step 5: Confirm and Mint USDFC
  • Step 6: Verify Minted USDFC
  • Next Steps
  • Troubleshooting
  • Common Questions
  • Related Topics

Was this helpful?

Edit on GitHub
Export as PDF
  1. USDFC Stablecoin
  2. Getting Started

Minting USDFC Step-by-Step

A comprehensive guide to minting USDFC stablecoins

PreviousCreating Your First TroveNextManaging Collateral Effectively

Last updated 18 days ago

Was this helpful?

Prerequisites

  • An active Trove with FIL collateral

  • Access to the

  • Connected wallet with enough FIL for gas fees

Overview

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.

Step 1: Access Your Trove

First, you need to access your existing Trove in the USDFC application.

  1. Navigate to the

  2. Connect your wallet if not already connected

  3. Go to the "Trove" section on the USDFC Dashboard page

  4. You should see your current Trove details including collateral amount, debt, and collateral ratio

"Debt" is the Total debt = Borrowed amount + Borrowing Fees (cumulative)

Step 2: Select "Adjust Trove"

To mint additional USDFC, you need to adjust your Trove.

  1. Click on the "Adjust" button

  2. This will open the Trove adjustment interface

"Net debt" is Total Debt - Liquidation Reserve. In this example, 221.02 - 20 = 201.02 USDFC.

Step 3: Specify Minting Amount

Now you need to specify how much additional USDFC you want to mint.

  1. In the adjustment interface, locate the "Collateral" and "Net debt" input fields

  2. Enter the amount of Collateral and USDFC debt you want to adjust

  3. The system will automatically calculate your new collateral ratio

  4. Ensure your new collateral ratio remains above the minimum required (recommended 150%)

"Total debt" is Net debt + Liquidation Reserve + Borrowing Fee (this mint fee). In this example, 220.00 + 20 + 0.10 = 240.10 USDFC.

Step 4: Review Transaction Details

Before confirming, review all transaction details carefully.

  1. Check the additional USDFC amount you're minting

  2. Verify your new collateral ratio

  3. Review any fees that will be applied

  4. Ensure you understand how this affects your liquidation risk

Step 5: Confirm and Mint USDFC

Once you're satisfied with the details, you can proceed with minting.

  1. Click the "Confirm" button

  2. Confirm the transaction in your wallet

  3. Wait for the transaction to be processed on the blockchain

Step 6: Verify Minted USDFC

After the transaction is confirmed, verify that your USDFC was minted successfully.

  1. Check that your Trove details have been updated with the new debt amount

  2. Verify that the additional USDFC has been added to your wallet balance

  3. Check that your wallet balance reflects Borrowing Fee subtracted

Wallet balance = Total debt - Liquidation Reserve - Borrowing Fees (cumulative). In this example, 240.10 - 20 - 0.10 (this mint fee) - 1.02 (prev mint fee) = 218.98 USDFC.

Next Steps

Now that you've minted USDFC, you can:

Troubleshooting

  • 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

Common Questions

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.

Related Topics

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

🧙
👛
a blockchain explorer
Manage your collateral
Monitor your position
Deposit USDFC into the Stability Pool
Redeem USDFC
The Trove System
Mint & Borrow
Protocol Fees
Liquidation
USDFC application
USDFC application
The Trove dashboard showing current position details
Screenshot after clicking the "Adjust Trove" button
The minting interface with the adjusted amount and collateral ratio calculation
The confirmation screen with the "Adjust Trove" method
Screenshot showing updated Trove details and wallet balance