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4. Mint & Burn Pool Tokens ('Pools' Page)
Minting leveraged tokens takes a little longer than buying them. If you aren't in a rush, head to the "Pools" page to start making new tokens.
Before you can make a token, you'll need to find the right Pool for it. Sort through the Pools using the drop-downs at the top of the page:
Otherwise, look through the curated markets.
Once you've sorted through the Pools, you'll be left with a module that looks like this:
To create a leveraged token, you need to commit to enter the Pool on one side. Click one of the commit buttons on the right of the Pool module:
Depending on which side you've committed to, you'll get a long token or short token. Remember that long tokens profit when the tracked asset price goes up, and short tokens profit when the tracked asset price goes down.
Here's the modal for a new commit:
As you can see, you have three options: mint, burn, and flip. We'll just look at mint for now. Minting is creating a leveraged token by entering the Pool.
By default, the token you selected is shown. If you accidentally clicked the wrong side, you can change it over in this window.
All that's left to do is type in the amount you want to enter the pool with. Make sure you've got the correct settlement asset on Arbitrum or it won't work.
If you are using a new kind of settlement asset to mint with, you will be required to unlock it with a separate transaction. This is a one time transaction per asset.
Before you finish and sign-off on the transaction in your wallet, you'll notice a countdown timer above the summary. This is how long you have before your commitment is entered. After that, you'll need to wait 8 hours until you can claim your tokens. Tokens take 8 hours to mint, so, if you want to hold them in your wallet, you'll have to be patient.
There's a number of notifications to let you know that your commit was successful. The first looks like this:
It shows that your commit went through. Don't worry about waiting around until your tokens ready, we'll hold them in escrow for you. You'll be able to claim them from the portfolio page after the 8 hour period has passed.
If you do happen to be around when your tokens are minted, you'll get this notification:
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Click the top link to claim your tokens from escrow. You don't have to claim the tokens – they're still yours and can be burned or flipped from escrow. It's just an extra step you'll need to do if you want to stake the tokens for rewards or sell them on Balancer.
Navigate to the "Pools" tab. Like you did when minting, use the drop-downs to choose a Pool to redeem tokens in.
To burn a leveraged token, you need to commit to exit the Pool. Click the commit button at the right of the Pool module for the side of the Pool you're in:
Next, change the action at the top of the new commit modal to Burn:
Now you'll be able to see the where your tokens are held. You can choose to burn from your wallet or in escrow. If you want to do both, you'll have to make separate commits. Click the location you want to burn from:
Enter the amount of tokens you want to burn manually or click max.
Before you sign off on the transaction, have a look at the count down timer. That's the time until your commit is entered. After that, you are committed to exiting the Pool and will have to wait 8 hours before you can claim the settlement funds.
You'll get a notification to tell you that your commit was successful:
Don't wait around, it's going to take 8 hours before you can claim your funds. We'll hold them in escrow so you can get them any time after that. If you do happen to be around when they come through, you'll get another notification:
