Yam Synths
  • Welcome to Yam Synths!
  • Overview
    • What can I do with Synths?
    • How Do I Use Synths?
      • How to Mint Synths
      • How to Earn Rewards
      • Where Can I Buy Synths?
      • How Do I Short Synths?
      • How Do I Manage Synths?
      • How Do I Settle Synths?
      • How Do I Redeem Synths?
    • How Do Synths Work?
      • How do Liquidations Work?
      • What are Priceless Synthetic Tokens?
      • What is the Data Verification Mechanism (DVM)?
      • What are the different Collateralization Ratios? (GCR vs CR)
    • How Do Rewards Work?
      • UMA Rewards Overview
      • Where are my Rewards?
      • How Much am I Earning?
    • FAQ
  • Synthetic Tokens
    • uPUNKS
      • Use Cases
      • Current Contracts
        • uPUNK-1221
      • Expired Contracts
        • uPUNK-0921
    • uGAS
      • Current Contracts
        • uGAS-1221
      • General uGAS Info
        • Getting started with uGAS
        • Use Cases
      • Expired Contracts
        • uGAS-JUN21
        • uGAS-MAR21
        • uGAS-FEB21
        • uGAS-JAN21
        • uGAS-0921
    • Deprecated Synths
      • uSTONKS
        • Current Contracts
          • uSTONKS-0921
        • General uSTONKS Info
          • Getting started with uSTONKS
        • Expired Contracts
          • uSTONKS-JUN21
          • uSTONKS-APR21
  • Additional Information
    • Yam Team
    • Glossary
    • Audits
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On this page
  • 1. Visit Yam Synths and select a synth to mint
  • 2. Select the Synth Expiry Date
  • 3. Check to see if you have the collateral required and then select "Mint"
  • 3. Enter amount of collateral you'd like to mint with

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  1. Overview
  2. How Do I Use Synths?

How to Mint Synths

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Last updated 3 years ago

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Our Yam Synths site allows you to mint synths. Minting a synthetic is the first step to either providing liquidity and or being able to.

Minting synths requires a bit of background knowledge, but it pretty easy once you get the hang of it!

1. Visit and select a synth to mint

2. Select the Synth Expiry Date

The date after the synth name represents the expiry date of the synth. In the example above, "uSTONKS-JUN21" means that the the uSTONKS synth will expire at the end of June 2021.

3. Check to see if you have the collateral required and then select "Mint"

The first thing you need to do is determine what collateral is required to mint the synth you are interested in and make sure you have that collateral in your wallet. In the example above, uSTONKS requires USDC to mint.

3. Enter amount of collateral you'd like to mint with

For example:

1. You have 10 ETH of collateral you want to mint with. 2. The average collateral/synth ratio of all other minters of this synth is 100 synth/1 ETH 3. You can mint up to 1000 synth with your 10 ETH (10*100)

You can see in the example above that the contract never actually needs to query a price for ETH or the Synth. The Yam Synths website will query prices and use that to show you what the GCR is, but the contract never needs to. That's pretty cool!

Follow the steps on the website to mint your synth and once that is done we can move on to the next step, to LP your synth for rewards, or sell it to go short.

If you don't have any, you can usually buy the collateral from , , or another exchange.

You can find what the collateral is on the website or by looking at the specific token in the #synthetic-tokens of these docs.

When initially minting a synth, you are only allowed to mint at or above the (GCR). This global collateralization ratio varies, but the Yam Synths interface will show you what it is and won't let you mint below it. You can decrease your (CR) after minting but it requires a few steps that we will cover in another section.

As always, if you still have questions, come ask in our .

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