Learn to Mint USDi
Minting USDi is the process of sending backing assets to the Injera protocol in exchange for USDi
Users can mint USDi with Injera through our UI or via our API.
Using the UI, the mint USDi user workflow for whitelisted approved participant market makers is:
The user requests to mint USDi via our dApp interface by selecting a backing asset, such as stETH, entering the amount of stETH they wish to use for minting, and viewing the amount of USDi to receive.
If the user agrees with the amount of USDi, the user is able to click the "Mint" button which pops up their selected wallet to sign an EIP712 style signature specifying the backing asset, backing amount, and USDi amount they will receive.
After the user signs the transaction with their wallet, Injera validates the request & submits the transaction to the blockchain.
Upon successful confirmation of the transaction, the user's chosen backing asset, such as stETH, is automatically swapped for the agreed amount of USDi.
Using the UI, the non-whitelisted users are able to exchange stablecoins for USDi via accessing external liquidity pools available via our UI:
The user requests to buy USDi via our dApp interface by selecting a stablecoin asset to exchange for USDi.
This transaction is routed using MEV protection through DojoSwap to various onchain liquidity pools in exchange for USDi.
This abstracts away the complexity for all users allowing stablecoins as an input asset, and causes small imbalances in the onchain AMM pools which triggers an opportunity for market makers to proceed with the mint workflow outlined below.
Last updated