How to Claim Back Your Collateral from STBL's USST Beta Minting Contracts?

STBL

— 2 min read
How to Claim Back Your Collateral from STBL's USST Beta Minting Contracts?

If you participated in the STBL Beta and minted USST, you can redeem your tokens and retrieve your collateral through the Beta dApp at https://dapp-beta.stbl.com/withdraw

This process burns your USST and releases your underlying collateral (USDY) back to your connected wallet.

Follow these steps:

  1. Go to the Beta dApp:
    • Visit https://dapp-beta.stbl.com and make sure your wallet network matches the one you used during the Beta.
    • Once on the site, open the Withdraw tab - you’ll see a purple banner that says “Retrieve your collateral by burning USST.”
  2. Connect your wallet:
    • Click “Connect Wallet” in the upper right corner and choose the same wallet you used during the Beta phase.
    • Your Beta positions will appear in the table below, showing your YLD Number, USST Minted, Collateral Locked, Expected Yield Payout, and Yield Distributed.
  3. Approve the contract:
    • Before you can withdraw, you first need to give the STBL Beta contract permission to access your USST tokens. This is a standard on-chain approval required before the contract can burn (i.e., destroy) your USST and release your collateral.
    • Click the “Approve” button at the bottom of the page.
    • Your wallet (for example, MetaMask) will open a transaction window - review the gas fee and confirm.
    • Once submitted, wait for the approval transaction to confirm on-chain. You’ll see a confirmation in your wallet or a message in the dApp once it’s successful.
    • After approval, the dApp will automatically unlock the Withdraw function so you can complete the redemption.
  4. Burn USST and withdraw your collateral USDY:
    • Once the approval is confirmed, proceed to withdraw. Click the “Withdraw” button and confirm the transaction in your wallet.
    • The contract will burn your USST - permanently removing it from circulation and immediately release your collateral (USDY) back to your connected wallet.
    • After the transaction is finalized on-chain, you’ll see your updated wallet balance or a confirmation message on the dApp.
  5. Verify receipt:Check your wallet to confirm that you’ve received your collateral (USDY).You can also verify the transaction on Etherscan through your wallet’s activity tab.If your dashboard shows no active positions, it means you have already redeemed your Beta holdings or are using a wallet that didn’t participate in the Beta.

Notes:

  • The Beta dApp is redemption-only. You can no longer stake or mint new USST through it.
  • To mint or stake new USST, visit the live STBL app at https://dapp.stbl.com/
  • The Withdraw tab on the live app handles mainnet redemptions, not Beta redemptions.
  • Make sure you use the same wallet from the Beta and have enough ETH for gas fees.
  • You continue to retain the points you earned.

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