Easy MATIC FLI issuance on the Polygon Network

Cormac Daly

Feb 14 | 2 min read

Low Cost Transactions

The major advantage of launching MATIC2x-FLI on Polygon is the much lower cost to transact on the network.

In many cases transactions will cost less than a single cent in gas fees. This cost saving will allow all customers to benefit from the ability to mint their own FLI tokens directly on the TokenSets website. In many situations this can lead to a better customer experience, as minting directly on TokenSets bypasses the risk of slippage.

Slippage is the difference between a cryptocurrencies quote price and the price paid in the transaction. It can have an impact on the value that the customer gets for their purchase based on the size of the trade and the amount of available liquidity.

Disclaimer: the following procedures require interacting with multiple DeFi protocols, so users who are not experienced with DeFi should proceed with caution

Getting Aave WMATIC Tokens

In order to mint MATIC2x-FLI-P you will need some Aave WMATIC tokens (AMWMATIC). These are created by depositing WMATIC as collateral to Aave’s Polygon Network Market.

Screenshot showing UI showing how to Get Aave WMATIC Tokens by depositing WMATIC as collateral to Aave’s Polygon Network Market.

Minting On TokenSets

Now you are ready to mint your own FLI tokens through the TokenSets UI. You will need a web3 wallet (such as MetaMask) and your AMWMATIC to mint your own FLI tokens. Start by choosing the Polygon Network on the TokenSets UI.

Screenshot of of UI for MATIC FLI issuance via Set Tokens.

Click on the tile with three vertical dots on the top right of the UI and select “Issue”.

You will need to approve the use of the underlying token AMWMATIC.

Once you have supplied AMWMATIC and approved the Set smart contract, you will be able to issue FLI tokens.

Inverse MATIC & Inverse ETH issuance

In this situation we have used MATIC to mint MATIC2x-FLI-P. The exact same process can be used to mint the newly launched inverse tokens iETH-FLI-P and iMATIC-FLI-P. The key difference is that AMUSDC must be used as the collateral asset on Token Sets. You receive AMUSDC by depositing USDC on the AAVE Polygon market and can mint your tokens using these links for iETH-FLI-P and iMATIC-FLI-P.

Disclaimer: This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice.

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