How to Redeem CoUSD [Experimental]

How to redeem

Check the CollateralReserve contract on FTMScan.

Decide token

Decide which token(USDC or DAI) you want to redeem for.
If lacking collateral, you cannot redeem.

Approve contract

CoUSD Contract is below, you need to access the contract on FTMScan.

  • Contract address = spender (address)
  • Approved amount = value (uint256)
  • USDC should be 6 decimals
  • DAI should 18 decimals

Redeem CoUSD

1. Access the contract “redeemSimple” method.
https://ftmscan.com/address/0xafaFC2EECEde012bf906E860B67aF549662b8EB2#writeContract

  • Redeem amount = cousd_amount (uint256)
  • Token address ( USDC or DAI ) = col_token (address)
  • Expected mim amount = col_out_min (uint256)
  • 1000000000000000000
  • 0x8d11ec38a3eb5e956b052f67da8bdc9bef8abf3e
  • 950000000000000000
Example to redeem 1 CoUSD for DAI
  • 100000
  • 0x04068da6c83afcfa0e13ba15a6696662335d5b75
  • 950000
Example to redeem 1 CoUSD for USDC
  • Add CoUSD-USDC liquidity on SpookySwap
  • Add CoUSD-USDC liquidity on CoffinSwap
  • Add CoUSD collateral
  • Buyback COFFIN

About CoffinSwap ( https://coffin.fi )

CoffinSwap is also an experimental swap to create COFFIN related liquidity.
We recently prepared this swap because our partnership protocol may utilize our tokens.

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