At PSM page, users can now mint USDA using DAI, and the PSM module will automatically convert DAI into CHAI to earn DSR (Dai Savings Rate) returns. Currently, both the Mint Fee for creating USDA in the PSM and the Redemption Fee for redeeming DAI are set at 0.5% for testing purposes.
Once the product officially launches, the Mint Fee will be reduced to 0%, while the Redemption Fee will depend on factors such as the amount of DAI available for withdrawal from the PSM module.
In the example below, the user exchanges 100 DAI for 99.5 USDA since the mint fee is 0.5%.
Mint Cap: the total amount of USDA can be minted from PSM.
Available To Mint: the amount of USDA currently available for minting from the PSM.
Total Mint: the total amount of USDA that has been minted through the PSM.
Users can also switch to the "Redeem DAI" option by clicking "Redeem DAI" or using the bi-directional arrows in the center of the page to exchange their USDA back for DAI.
PSM Page: Mint USDA
In the example below, the user exchanges 100 USDA for 99.5 DAI since the redemption fee is 0.5%.
Available To Redeem: the current amount of DAI that can be redeemed from the PSM.