🟩
Dealing with sTokens
Symbiosis WebApp user guide: What sTokens are and dealing with sTokens via Symbiosis WebApp.
sToken (sUSDT, sUSDC, sBUSD etc..) represents a token of one blockchain on another blockchain and is used to perform cross-chain swaps. Please refer to Wrapped Tokens and sTokens | Symbiosis for more details.
There are three ways to obtain sTokens:
- 1.
- 2.
- 3.
What can be done with sTokens? There are three ways to deal with sTokens:
- 1.Just keep them,
- 2.Become a liquidity provider: add the sTokens to an appropriate liquidity pool, get a reward for providing liquidity and burn them later to get stablecoins on the blockchain that this liquidity pool links to. Please refer to Liquidity Pools for instructions on adding/withdrawing liquidity to/from a liquidity pool.
- 3.Swap them to stablecoins on a Symbiosis DEX (instructions are below).
Symbiosis WebApp supports two sets of blockchains: for Mainnet and Testnet:
You may consider using Symbiosis WebApp on Testnet first to get familiar with the application's functionality.
Requirements to operate:
- Your wallet is installed and connected to Symbiosis WebApp,
- You have enough native assets to pay for a transaction on the source blockchain.
To swap sTokens for stablecoins:
- 1.
- 2.Find a network you have sTokens on. sTokens are easy to locate. You will see the Burn label next to it:
- 3.Transfer from: Select the sToken (sUSDC, in this example):3. Transfer to: Select the destination token (there is just one option for each sToken type) > select the token (BUSD, in this example):
- 4.Enter the amount to exchange and press the Swap button:
- 5.Confirm the swap in the popup window and the transaction in your wallet:
- 6.Wait for the transaction to be mined and confirmed:
Done
∎