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vKSM Mint&Redeem

Mint vKSM

Step 1: Login to Bifrost Dapp, open vStaking, select vKSM.
Bifrost
Step 2: In the vKSM minting page, you can see the Staking APY, my Staking status and profits at the top. The left side shows the amount and liquidity of KSM's total staked.
Step 3: Minting vKSM on the right side, the minimum minting amount for vKSM is 1 KSM, 1 KSM is mint here for the tutorial demonstration.
KSM:vKSM is not 1:1 peg, vKSM includes the staking reward of KSM, so its price is getting higher than KSM. Learn more at vKSM mechanism.
Step 4: After entering 1 KSM, you can see the expected number of vKSMs to be minted. Please note that there is a discount between KSM and vKSM. vKSM as an interest bearing asset will continuously adjust the price of vKSM as KSM Staking rewards are released.
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Step 5: Confirm the processing fee and sign. View My Staking and real-time profit status

Redeem vKSM

Step 1: First you need to adjust the position to vKSM and KSM, enter the number of vKSM you want to redeem, the minimum redemption unit is 0.8 vKSM.
KSM:vKSM is not 1:1 peg, vKSM includes the staking reward of KSM, so its price is getting higher than KSM. Learn more at vKSM mechanism.
Or you can choose Lighting Mode to quickly redeem vKSM for KSM at the market price.
Step 2: Confirm your transaction.
Step 3: You can see the redemption request you initiated, including the amount, time and status of the redemption and the redemption countdown.
if the vKSM minting volume is greater than the current redemption volume, the redemption request will be executed immediately. You can see how much of redemption amount before you.
Step 4: Finally, if you want to cancel the redemption of your KSM, then click Cancel to confirm the fee and sign
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Mint vKSM
Redeem vKSM