Zapping from CeFi to DeFi — and back.
How to Use the Web-App and Mint/Redeem Digital Dollars (DUSD)
Why?
With a Fluid Finance account you’ll be able to deposit, send and exchange
US Dollars, Euro’s, British Pounds and Swiss Francs.
Most importantly, you’ll be able to ‘mint’ those deposits into Fluid’s reiteration of the traditional “stablecoin” called digital dollars (DUSD). In a few clicks and within 20 seconds on Arbitrum, your digital dollars (DUSD) are directly deposited to your crypto wallet.
The other way works just as fast to ‘redeem’ or burn your DUSD, crediting back normal dollars to your account within 20 seconds.
Because every digital dollar (DUSD) is minted by real deposits to the blockchain, and the fiat treasury account is publicly broadcasted to the blockchain, it is the world’s first iteration of the “stablecoin” that is 1:1 backed, verifiable, and on-chain.
For every digital dollar, there is a real dollar sitting in a public treasury bank account.
The world’s first bank account that’s linked to your web3 wallet, using our iteration of the “stablecoin” that’s verifiably backed 1:1 on-chain.
Delivering users the fastest, cheapest, and safest Fiat-DeFi bridge.
Now on Arbitrum, other chains to come in the future.
How?
Our web-app is currently available in the European Union and all its member states, as well as the United Kingdom, Norway, Iceland, Switzerland and Liechtenstein.
In the future, we’ll open up to the rest of the world, and will be able to offer FDIC-insured accounts to the US market too.
We’re currently running on the Arbitrum Network, a ‘layer two’ sidechain of Ethereum. In the future we’ll offer multi-chain support across DeFi.
1 / Now to get started: Go to app.fluidfi.ch and sign-up.
You’ll have to verify your email, after which passing a quick and painless KYC process. It usually takes less than 5 minutes to do and get verified.
After KYC you’ll be prompted to set up 2FA ‘two factor authentication’, for security reasons. All of the well known 2FA-apps are supported, including Google Authenticator and Authy.
Finally you’ll connect your crypto web3 wallet, such as Metamask, and ‘prove ownership’ through a quick transaction on the Arbitrum network.
Your bank account is now connected to your web3 wallet!
From pressing sign-up to now shouldn’t take more than 15 minutes, and you’re all set.
The next step is (2a) - depositing fiat money to your IBAN, or (2b) - ‘depositing’ digital dollars (DUSD) bought within DeFi.
2a / You can deposit EUR, USD, CHF, GBP to your personal IBAN.
Deposit time and fees depend on the location and bank you send from, but we charge no fees.
Once it settles, you’ll be able to exchange between the currencies at cheap market rates, instantly. If you deposited a currency other than USD, this is also how you’ll be able to convert to USD so that you can mint your digital dollars.
2b / You can buy digital dollars (DUSD), on Sushiswap, and use this.
If you don’t want to put more money into DeFi, but get some out, you can buy DUSD on Sushiswap with your ETH on Arbitrum.
The DUSD contract address on Arbitrum Mainnet is: 0xF0B5cEeFc89684889e5F7e0A7775Bd100FcD3709 (Arbiscan link)
If you’re connected to Arbitrum on Sushiswap, you can use this instant link for the DUSD/ETH pair: app.sushi.com/swap?inputCurrency=0x82af49447d8a07e3bd95bd0d56f35241523fbab1&outputCurrency=0xf0b5ceefc89684889e5f7e0a7775bd100fcd3709
3a / Mint your fiat into digital dollars (DUSD)
Once you have US Dollars in your account, you can go to the ‘mint’ tab to mint your USD into digital dollars (DUSD) on-chain, directly to your connected wallet on the Arbitrum network. You now have DUSD in your wallet!
This takes less than 20 seconds, and is very cheap, thanks to Arbitrum.
With this DUSD you can buy ETH on Sushiswap, to use it as an on-ramp to DeFi. If you’re connected to Arbitrum on Sushiswap, you can use this instant link for the DUSD/ETH pair: app.sushi.com/swap?inputCurrency=0x82af49447d8a07e3bd95bd0d56f35241523fbab1&outputCurrency=0xf0b5ceefc89684889e5f7e0a7775bd100fcd3709
Or, you can buy our token, $FLUID, which also runs on Arbitrum.
If you’re connected to Arbitrum on Sushiswap, you can use this instant link for the DUSD/FLUID pair: app.sushi.com/swap?inputCurrency=0x876ec6be52486eeec06bc06434f3e629d695c6ba&outputCurrency=0xf0b5ceefc89684889e5f7e0a7775bd100fcd3709
3b / Redeem your digital dollars (DUSD) into fiat
If you bought DUSD on Sushiswap that you’re looking to turn into fiat, make sure the DUSD is on the wallet connected to your Fluid Finance account.
You can then use the web-app to press ‘redeem’, which burns your DUSD and credits your IBAN-account with real dollars again. Also in 20 seconds.
With these simples steps you can move seamlessly from traditional finance, to decentralized finance, and back. Within 20 seconds, cheaply, and safely.
But this is only the beginning. We’ll improve our services by increasing liquidity, reducing fees, adding multi-chain support, adding debit cards and much more. Leaving old exchanges in the history books.
📆 Be part of the Future:
Download the mobile app! Available on iOS and Android!
- Follow our Twitter
- Check out our website: fluid.ch
- Sign up for an account at: app.fluidfi.ch (<15 min)
- Join our Telegram community & the Announcement Channel
- Or our Discord community
- Inspect our GitLab
- Watch our YouTube
- Read more about digital dollars (DUSD)
We’re constantly looking for talented developers and other professionals to join our team. Many in the core team started as investors and community members.
We’re also pursuing partnerships across the ecosystem, mainly to grow the adoption of DUSD, and Fluid accounts.
Signing up on our web-app is an easy and intuitive process.
If you prefer detailed instructions on how to use the web-app, you can read this piece:
Don’t trust, verify:
Digital dollars (DUSD) — fully backed 1:1, transparent on-chain 24/7, and of course, based in Switzerland.
