How to redeem UXD
The below describes the redemption process to redeem UXD for an equivalent amount of crypto assets.
Redeeming UXD is available only to persons not in a restricted jurisdiction. For more information, please see our Terms and Conditions regarding the usage of UXD Protocol.
"Redeeming" UXD is the process of burning UXD in exchange for a USD-equivalent of a decentralized crypto assets such as SOL. For example, 100 UXD can be burned to redeem approximately $100 of crypto assets, making UXD highly capital efficient. The difference between the UXD amount and the USD amount of crypto assets redeemed is due to (i) slippage (the change in price between a user's order submission and final execution) and (ii) trading fees on the underlying derivative exchange.
UXD Protocol does not collect any fees from the user.
Please note: The minimum redemption size is .01 SOL (~$1.5 as of January 2022) due to the functionality of the underlying derivatives exchange(s).
- 1.Visit the Redeem Application. If you are in a restricted jurisdiction, you will receive the following message when attempting to access the application:
If you are not in a restricted jurisdiction, you will see the following page:
2. To proceed, click "Connect" in the upper right corner:
You will be prompted to accept the Terms and Conditions in order to connect your wallet. Click acknowledge after you have read the Terms and Conditions and hit "Confirm.
Select your desired wallet and enter the password to access your wallet. You will receive a pop-up indicating that you're now connected.
3. Click "Redeem" on the top of the main user interface. Enter the amount of UXD you'd like to exchange for SOL. Then, select your desired slippage tolerance and click "Redeem" and approve the transaction in your wallet.
4. Once the transaction completes, you will receive a notification indicating UXD has been successfully burned and SOL assets have been added to your wallet:
You will now be able to view your changes in UXD and SOL balances in your wallet! UXD's token address is