How to redeem $BITU

Redeem your assets by burning $BITU, then withdraw them after the cooldown period.

Users can redeem $BITU through our UI or via our API. Using the UI, the user workflow to redeem $BITU is as follows:

  • Step 1: Log into the dApp page using your wallet.

  • Step 2: Select the collateral position you have (e.g., BTCB) and enter the amount of $BITU you want to burn.

Redeem Your Asset by Burning BITU - Choose Your Position
Redeem Your Asset by Burning BITU - Choose Your Position

  • Step 3: Adjust the collateral ratio of the remaining assets and view the amount of the collateral assets you want to receive.

Redeem Your Asset by Burning BITU - How Much Do You Want to Redeem?
Redeem Your Asset by Burning BITU - How Much Do You Want to Redeem?

  • Step 4: Click the "Redeem" button. This action will prompt your selected wallet to pop up. Confirm the transaction, and it will be submitted to the blockchain.

Redeem Transaction
Redeem Transaction

After the transaction is successful, users will have redeemed their collateral. However, collateral assets can only be withdrawn after the cooldown period has ended.

Check Your Position Update
Check Your Position Update
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