V2 direct mint liveLiquidation testedRedemption tested

Mint USDY from BTC

Deposit BTC collateral and mint USDY through the V2 direct minter.

Wallet not connected

OP_NET Testnet

Open a vault

One wallet signature: BTC in, USDY out.

BTC collateral

BTC

Minimum vault collateral: 0.0025 BTC

USDY to mint

USDY

Minimum debt: 100 USDY. Origination fee: 0.5%.

Collateral value

$252.00

Oracle price: $84,000

Debt with fee

120.6 USDY

Includes 0.5% fee

Collateral ratio

208.95%

Entry minimum: 200%

Max mint

125.37 USDY

At 200% entry CR

Direct mint calldata

a193ff7a0000000000...a43676e00000

USDYMinter

opt1sqpw4q...2y0jnhhr

Connect OP_WALLET to mint.

Redeem USDY

Burn USDY and receive BTC collateral from target vaults.

Amount

USDY

Target vault owner addresses

Targets must be 32-byte 0x OP_NET addresses ordered from lowest collateral ratio upward.

Allowance calldata

Enter amount and targets

Redeem calldata

Enter amount and targets

Connect OP_WALLET to redeem.

V2 contract stack

USDYMinteropt1sqpw4q...2y0jnhhr

VaultManageropt1sqqlf7...hvetm0pz

USDYTokenopt1sqrpjg...8qxajqn0

PriceOracleopt1sqryqg...9u2x2l09

StabilityPoolopt1sqzxlm...ds27kwug

Execution path

BTC sent

Wallet funds the reserve output in the interaction transaction.

Collateral recorded

The protocol accounts for BTC collateral internally.

Vault opened

VaultManager locks collateral and records user debt.

USDY minted

USDYToken mints the requested amount to the connected wallet.

Protocol status

Direct mint is live on OP_NET testnet with Alice's one-signature proof transaction.

Liquidation under price stress passed with StabilityPool debt absorption.

Redemption passed on retry with exact 20 USDY burn and BTC collateral returned.