🔥Burn (moUSD)-testnet

Redeem your collateral by burning moUSD

Burning refers to paying back your moUSD debt in order to redeem your outstanding collateral. If your moUSD balance is not enough to pay the entire portion of the debt, you can buy moUSD on the open market.

Please note: After redeeming all your collateral assets, you will not be eligible for staking rewards.

In order to use the burn feature, follow the steps below:

1. Go to the "Mint & Burn" page and select the "Burn" tab on the left component.

2. Select the collateral you want to redeem. You can click on the button under the "Collateral" textbox or on the right side by clicking on any of the token types.

3. Enter the amount of moUSD you would like to burn. After entering the amount of moUSD, you will see the amount of collateral you can redeem. You can verify the final information on the right side box.

6. After verifying your information, click on the "Burn" button and confirm the transaction on Metamask.

7. You should receive your collateral once the transaction is confirmed by the Polygon Network.