Feb 14 | 2 min read
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
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.
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.
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.
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.
Information is for educational and illustrative purposes only. The Index Cooperative is not engaged in the business of the offer, sale or trading of securities and does not provide legal, tax, or investment advice. Cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent.No Index Cooperative communication is intended to imply that any digital assets are low-risk or risk-free. The Index Cooperative works hard to provide accurate information on this website, but cannot guarantee all content is correct, complete, or updated.