How to mint $BITU

Prerequisites:

1. Only whitelisted wallets and users are allowed to mint $BITU.

2. An EVM wallet that supports the BNB Chain network, you can add the network using ChainList.org.

3. Ensure that you have the supported assets in your wallet, such as:

• $BTCB (BEP20 Token Smart contract address 0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c)

1. Ensure there is sufficient $BNB in your wallet to pay for transaction fees.

How to be whitelisted?

Fill out the Application Form:https://bitu-protocol.typeform.com/Minters

Enter the BitU Dapp: https://app.bitu.io/

• Step 1: Connect your wallet and choose BNB chain. Currently, only the BNB chain is supported. Ensure it has balances of the supported collateral assets, such as BTC (using BTCB on BNB Chain).

BITU Minting

Connect your wallet

Connect with MetaMask:

Metamask connection

• Step 2: Select the collateral asset and amount to deposit, such as BTC. (Swap or bridge BTC to receive BTCB on the BNB Chain Network)
• Step 3: Input the collateral ratio. Select "Custom" to specify a value or use the default setting, ensuring it meets the minimum requirement for the asset.

  • Collateral Ratio: The collateral ratio will change with the real-time price of the collateral asset, allowing users to benefit from price increases.

  • Mint Fee: Fees are based on the minted BITU token value and paid by the collateral asset. The fee amount reflects the current collateral market price. The Mint Fee Rate is set to 0.15%.

  See more about Mint Fees in the FAQs below.

Approve Your Asset

• Step 4: After reviewing the amount you intend to deposit, you must approve the spending of the BEP20 token. This verification is required to allow the smart contract to use your $BTCB tokens.

Approve Transaction

• Step 5: Click the "Mint" button. This will trigger the selected wallet to pop up. Confirm the action. BitU will then validate the request and submit the transaction to the blockchain. Currently, only whitelisted users can use this feature. Gas fees must be paid with BNB, so please ensure your wallet has sufficient BNB.

Mint $BITU

Once the approval and mint transactions are successful, the selected collateral asset (e.g., BTCB) will be automatically swapped for the agreed-on amount of the $BITU stablecoin, and a position will be created. Any existing positions with the same collateral will be updated.

Check Your Position after Minting

The mint transaction details:

Check Your Transaction on Blockchain Explorer