Q: What is USDe Minting?
A: USDe minting is the process of converting supported stablecoins (USDT or USDC) into USDe. When you mint USDe on the platform, we use the USDT/USDC in your minting order to interact with the Ethena protocol to mint USDe and to distribute the USDe to your account, which can then be used for collateral in cross-margin, earning interest, or other platform activities.
Q: Which assets can I use to mint USDe?
A: USDT and USDC
Q: Where can I mint or redeem USDe?
A: You can access minting and redemption from:
- Earn page
- Assets page
Q: How long does minting or redemption take?
A: Each process takes approximately 30+ minutes. You will receive a push notification once it is completed.
Q: How do I know my available balance?
A: The available balance of the “From” asset is displayed and can be used for minting or redemption.
Q: How is the estimated exchange rate calculated?
A: The estimated exchange rate includes service fees and variable Ethena gas costs. It updates when you enter the page, refresh it, or request a review.
Q: What happens if the API fails to provide a quote?
A: An error screen is displayed. You can retry, but the system may show an unknown error if the request fails.
Q: How is the “To” amount calculated?
A:
- Mint: To amount = From amount * estimated minting exchange rate
- Redeem: To amount = From amount * estimated redemption exchange rate
Q: What if I enter an amount below the minimum or above my available balance?
A:
- An inline error message is displayed
- The “Preview” button is disabled
Q: Can the actual quantity change?
A: Yes, due to changes in gas fees or slippage.
Q: How do I know if minting/redemption is complete?
A:
- Push notifications (if the app is disabled)
- Toast messages (if the app is enabled)
Q: Can I see a record of successful transactions?
A: Yes, all completed minting and redemption records are displayed in the conversion history.
Q: Can USDe be used as margin?
A: Yes, if cross-margin mode is enabled.
Terms and Conditions
- By participating in the USDe functionalities and programs, including the USDe reward program and the USDe mint and redeem (the “USDe Programs”), you have agreed to follow the Flipster Terms of Use. We refer particularly to Clauses 43 and 44 of the Flipster Terms of Use.
- The terms of the USDe Program are as published on the Site and the mobile application.
- You agree and acknowledge that Flipster makes no representations or warranties of any kind, express or implied, regarding USDe, its value, stability, or functionality. USDe is a digital asset developed and issued by Ethena BVI Limited and by holding or using USDe, you are subject to their terms and conditions (https://docs.ethena.fi/resources/usde-terms-and-conditions).
- Participation in any promotion involving USDe is at your own discretion and risk. Flipster shall not be responsible or liable for any loss, damage, or claim arising from or in connection with your use, holding, or transacting with USDe.
- We may amend the terms of the USDe Program from time to time at our sole discretion. If we do, we will provide you with notice of such amendments by posting the updated terms on the Site and the mobile application.
- We reserve the right of final interpretation of the terms of the USDe Program.