Open the OINDAO website.
Click and enter redemption module, labelled “Redeem”.
Enter the amount you want to redeem.
Click the Redeem button. You can redeem any amount of your stake at any time.
Click Confirm on the pop-up window.
Check your wallet to ensure that you have received your assets.
Before the price reaches the predetermined liquidation rate, you can redeem your collateral at the original rate, which is 35:1 for the USDO1 pool, with the original price of 0.20 USDT.
If the market price of OIN reaches the liquidation rate of 110% (below 0.0314 USDT), the clearing mechanism will be triggered. USDO1 will no longer be classified as a stablecoin, and the system will return the collateral based on the stake.
Redemption Fee Token holders must pay a gas fee with ETH when they mint the stablecoins. When they return the minted stable coins and redeem them for their collateral, 0.3% of the OIN will be deducted and burned for this beta release.