Asset Guide – sfastUSD
Guide to sfastUSD on Sei
What is sfastUSD?
sfastUSD is a staked version of fastUSD, created through the Elixir platform. It allows users to earn rewards while maintaining liquidity on the Sei network, and can be used across DeFi protocols like Yei Finance.
Where do I get sfastUSD?
You can get sfastUSD from:
Swapping SEI or USDC for fastUSD and staking it on Elixir.
Bridging deUSD from Ethereum via Elixir and staking it to receive sfastUSD.
Get sfastUSD on Sei
Method 1: Swap for sfastUSD on Sei
Method 2: Get deUSD on Elixir and bridge to Sei
Bridge to Sei.
Navigate to the Elixir Bridge page.
Choose deUSD and bridge it to Sei (it becomes fastUSD on Sei).
Approve the transaction.
Stake fastUSD for sfastUSD.
Navigate to the Elixir page.
Click on "Stake fastUSD."
Confirm the transaction.
Supply sfastUSD on Yei
Deposit sfastUSD.
Navigate to the Yei Finance page.
Locate sfastUSD and click "Supply."
Enter the amount and confirm the transaction.
That’s it! 🎉 You are now utilizing your sfastUSD to earn rewards and Yei points.
Bridge sfastUSD out of Sei
Method 1: Swap sfastUSD for other assets on Sei
Transfer out of Sei.
Transfer the asset to a CEX or bridge out via Yei Bridge.
Method 2: Unstake sfastUSD on Elixir and bridge out of Sei
Unstake sfastUSD back to fastUSD.
Navigate to the Elixir Staking page.
Click on "Manage Staked FastUSD".
Start the unstake process (Elixir has a 7-day cooldown period).
Confirm the transaction and check the unstaking end date.
Bridge fastUSD out of Sei.
Visit the Elixir Bridge page.
Select Sei as the source chain and choose your destination chain.
Review and confirm the transaction.
Swap out of deUSD.
Swap to any other asset.
or Unstake deUSD. (Elixir has a 7-day cooldown period)
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