Minting $ERN
Learn how to open your first position in Ethos Reserve.
When you have your collateral, navigate to the Ethos Reserve Dashboard to begin creating a position.
The minimum amount that can be borrowed is 90 ERN.
From your dashboard, click on Get Started in the Open a Position box to open the position creation interface.
In the New Position interface, select the amount of collateral you would like to deposit and the amount of ERN you’d like to borrow.
Note that the 0.5% issuance fee scales up with high volume of redemptions. This is a security feature that mitigates sybil minting and redemption attacks.
The system will tell you if you’ve done anything wrong like borrowed too much or too little. See below for an example.
When you’re satisfied with your deposit and borrow amounts, click on Open Position to perform the necessary transactions. Your wallet will request confirmation for each incomplete transaction.
If your transaction fails — try again! Ethos Reserve will pick up where you left off.
After your position has been opened, you will see it every time you open your Ethos dashboard!
Now that you’re an official Ethos Reserve user, it’s time to learn how to earn with your ERN.
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