Save V2 is an upgraded version of Save that tokenises funds locked in Save, making it a composable, high-yielding, and decentralized savings account as the foundations of a fully decentralized financial world.
With the introduction of interest-bearing mUSD (imUSD) and savings vaults for yield farming MTA whilst simultaneously saving, we can now give Savers a way to earn MTA and participate in protocol governance by using the Save product.
If you haven’t read the announcement, you can read it here.
In this more detailed guide, you will learn how to interact with the new interface of Save V2. Head over to the app to get started.
Connect your wallet
Connect your wallet with one of the many wallet providers.
Then head over to the Save tab on the topbar.
With Save V2’s launch, there are two versions of Save, V1 of Save has been deprecated in favor of V2.
If you still have funds locked in Save V1, it’s advisable to migrate your balance using the migration tool (guide) as funds there no longer accrue interest.
Save V2
Navigate to the Save page. You can toggle between Save for mUSD and mBTC using the selector.
From there, use the Deposit tab to start depositing funds into Save.
Save accepts the following tokens as deposit:
For mUSD:
- DAI, USDC, USDT, GUSD — these will be used to first mint mUSD and then deposited into Save
- GUSD, BUSD — these will be used to swap for mUSD through mStable’s Feeder Pools
- ETH
For mBTC:
- renBTC, WBTC, sBTC — these will be first used to mint mBTC and then deposited into Save
- HBTC and TBTC — these will be used to swap for mBTC through mStable’s Feeder Pools
Use the Advanced settings to configure your slippage.
Enter the amount of stablecoins to deposit and then approve the contract to spend your tokens, then click Deposit.
Save Vault
By depositing your tokens into Save, you will receive the interest-bearing versions of the mAsset — i.e. imUSD and imBTC.
Holding imAssets automatically accrue interest from platform fees and rewards. You can redeem your deposits for more of the underlying at any time.
Depositing into the Save Vault — imUSD Vault and imBTC Vault — allows you to earn additional rewards on top, such as MTA rewards on Ethereum mainnet, and both MTA and MATIC rewards on Polygon.
To enter into the Vault directly, make sure that you have selected the destination to be the imUSD Vault when depositing.
**only deposits in the Vault qualify for additional incentives
Withdraw your stake from the vault
To withdraw, use the Redeem function on the same page.
On Polygon, you would first need to unstake your stake from the Vault.
Select the amount and click Unstake, this will unstake your imUSD from the Vault.
Redeeming imUSD for mUSD
Once you have unstaked your imUSD from the Vault, you can now withdraw your Save deposits.
Use the Redeem tab to redeem your Save deposits (represented by imUSD) for mUSD.
Once you have received mUSD, you can redeem your mUSD for underlying assets (e.g. USDC, USDT, DAI) at any time by using the Redeem function in the Forge tab, use one of our Feeder Pools, or swap it out on a DEX aggregator for another token.
We hope you guys found this guide useful! If you need any help, do ping our friendly community mods on Discord.
