USDO Redemption via Etherscan

Instant Redemption

Instant Redemption enables approved users to convert USDO to USDC in a single on-chain transaction, provided there is sufficient USDC liquidity in the system.

(Note: Only Available for Ethereum Network)

Step 1: Granting USDO Express Contract Allowance to spend USDO Token

Head over to USDO Token Contract address and grant allowance to USDO Express Smart Contract Address.

Example for a USDO instant redemption on the Ethereum network:

1. Head over to USDO token Contract on Etherescan: https://etherscan.io/address/0x8238884ec9668ef77b90c6dff4d1a9f4f4823bfe#writeProxyContract#F2

2. Navigate to Contract Tab > Write as Proxy

3. Connect to Web3 Wallet

4. Expand the approve function and populate the following parameters:

   1. spender - this parameter indicates the address you wish to grant approval to draw down your usdc balance, this should be set to OpenEden's USDO Express Smart Contract Address. (Note: refer to the table below for the contract address, or the case of ethereum network, the spender address will be 0x80e49D1bdCE8F80c38E88Dd5C4c004dDb9B4E887)

   2. amount - the amount of USDO you would like to grant approval to draw down for instant redemption. (Note: This should be in 18 decimal places for USDO an example would be to grant 1,000,000 USDO in allowance, use 1000000000000000000000000)

5. Proceed to click on the write button and you will be prompted to sign the transaction on your connected wallet.

6. Allowance can also be checked by looking at the allowance() method:

   1. owner - Your wallet address

   2. spender - USDO Express Smart Contract Address

Step 2: Instant Redemption of USDO

Head over to OpenEden's USDO Express Smart contract and initiate the instant mint.

Example of an instant redemption on the Ethereum network:

1. Head over to OpenEden's USDO Express Smart contract on Etherescan: https://etherscan.io/address/0x80e49d1bdce8f80c38e88dd5c4c004ddb9b4e887#writeProxyContract#F6
2. Navigate to Contract Tab > Write as Proxy

3. Connect to Web3 Wallet

4. Expand the instantRedeem() method and populate the following parameters:

   1. to - This will be the address which receives the USDC from the instant redemption. This will be your wallet address.

   2. amt - The amount of USDO which you would like to be redeemed for USDC. (Note: This should be in 18 decimal places for USDO an example would be to grant 1,000,000 USDO in allowance, use 1000000000000000000000000)

Manual Redemption

For instances when there isnt sufficient liquidity for instant redemptions, manual redemptions can also be triggered, do note that it may take up to 2 business days to be processed.

Example of a manual redemption on the Ethereum network:

1. Head over to OpenEden's USDO Express Smart contract on Etherescan: https://etherscan.io/address/0x80e49d1bdce8f80c38e88dd5c4c004ddb9b4e887#writeProxyContract#F10
2. Navigate to Contract Tab > Write as Proxy

3. Connect to Web3 Wallet

4. Expand the redeem() method and populate the following parameters:

   1. amt - The amount of USDO which you would like to be manually redeemed for USDC. (Note: This should be in 18 decimal places for USDO an example would be to grant 1,000,000 USDO in allowance, use 1000000000000000000000000)

SC Address \ Network	Ethereum	Base
USDO Token	0x8238884Ec9668Ef77B90C6dfF4D1a9F4F4823BFe	0xaD55aebc9b8c03FC43cd9f62260391c13c23e7c0
USDC Token	0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48	0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
TBILL Token	0xdd50C053C096CB04A3e3362E2b622529EC5f2e8a	-
USDO Express Smart Contract Address	0x80e49D1bdCE8F80c38E88Dd5C4c004dDb9B4E887	0x5076f96169d7cC15AFc084c60C68182C8F1732a7