Redeem (if you minted)

A step-by-step guide that shows you how to redeem synethetic tokens, if you minted it. This example is based on uGAS.

Redeeming is possible at any time (if you minted): uGAS can be redeemed for the underlying collateral before and after expiry. If you redeem before expiry, you must redeem the exact amount of synths that you minted. Any synths you lost due to IL have to be bought back. Alternatively, you can redeem any number synths except a minimum balance of 5 synths which you can redeem after expiry.

1. If you minted uGAS, you need to go through a process called “Redeem” to swap your uGAS for your collateral back. Click on “Redeem,” enter the amount of uGAS you’d like to redeem, and then click on “Approve EMP.”

Once you approve the EMP (ExpiringMultiParty) to redeem your uGAS for WETH, the “Approve EMP” button turns into a “Redeem” button. Click that button again to confirm the redeem process and receive your WETH!