How to issue/redeem USDS
We have just launched v0 of USDS as a public beta! You can now issue USDS and start earning 33.89% APY. (Yield will change based on market conditions.) In this post, we will walk you though the steps required to issue/redeem USDS.
Step 1: Registration
Go to https://soteriacurrency.app/login# and register your email address and password.
Step 2: Create Address
Click the Create Address button.
Step 3: Deposit BTC
Click the Deposit button and deposit BTC.
Step 4: Convert BTC to USDS
Once the BTC is deposited, you can convert it to USDS. Go to the Convert button on the top right and input the amount of USDS you want to issue and click Submit.
Step 5: Conversion
The conversion status will then be in sent and the BTC will be locked. At 00:10 UTC, status will become done and you will be able to withdraw your USDS. Users will earn interest on their USDS balance everyday at 00:55 UTC, regardless of where you have your USDS.
Step 6: Convert back to BTC
You can convert back to BTC by going through step 4 and 5 from USDS to BTC.
That is all you have to do to start earning yield on your USDS!
USDS in v0 is a erc20 token but for v1 it will be a sol token.
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