🟣Circle Mint Users
Learn how to use your Circle Mint account with OpenTrade
Summary
Circle Mint users can make investments in OpenTrade from their Circle Mint account
Circle Mint users can be repaid into their Circle Mint wallets
Circle Mint accounts cannot connect to smart-contracts or hold unlisted tokens, so you need to have another wallet that can connect to our Web Application and hold OpenTrade vault tokens - this is called your Login Wallet.
The Login Wallet will not hold any funds - it is simply used to log into OpenTrade, hold vault tokens (which have no monetary value), and request withdrawals. All funds will be sent from your Circle Mint wallet and repaid to your Circle Mint wallet.
Getting Started
Follow the steps below to get ready to use your Circle Mint wallet with OpenTrade.
1) Sign up for a wallet that can connect to OpenTrade (the "Login Wallet")
This wallet is how you log into the OpenTrade Web App.
We support any WalletConnect compatible wallet.
For this use case, we recommend Metamask because it is simple and reliable but you can use any supported wallet.
No funds will ever move through the Login Wallet. For investments, USDC/EURC will be sent from your designated Circle Mint wallet. For withdrawals, USDC/EURC will be sent to your designated Circle Mint wallet.
The Login Wallet will only be used to:
Log in to the Web App to view balances, run reports, and request withdrawals
Hold vault tokens
Vault tokens do not confer any rights or hold any value. If you lose them or lose access to your wallet, your funds are safe. There is a manual recovery process for vault tokens.
2) Provide OpenTrade with the Login Wallet address you will use to connect to OpenTrade
This is so we can whitelist you and provide you access to the vaults.
3) Provide OpenTrade with your Circle Mint wallet address
This is where funds will be repaid.
IMPORTANT: Thi sCircle Mint wallet address must be able to receive the asset you are investing (e.g. USDC/EURC) on Ethereum or Avalanche from external wallets. If you provide the wrong address for the wrong network or asset, your funds will be lost. We will perform a penny test to confirm.
4) Whitelist OpenTrade’s investment address in your Circle Mint account.
This is where you will send funds to make investments.
Your OpenTrade Account Manager will provide you with the deposit address on a video call.
You will need to whitelist this in your Circle Mint "Address Book" to make transfers to it.
We will perform a penny test to ensure you have the correct address.
IMPORTANT: Only send USDC on ETH or AVALANCHE to this address. Sending any other token and/or on any other network will result in your funds being lost. We will perform a penny test to confirm.
Making an Investment
Navigate to your Circle Mint account
Create a transfer to the OpenTrade investment address that you previously whitelisted
Approve the transfer
Confirm the transaction via Slack or Email (Your preferred communication method should be confirmed with your account manager before transacting) and provide the following info:
the amount invested (e.g. 100 USDC)
the vault you would like the funds allocated (e.g. USD Money Market Fund Vault on Avalanche)
the transaction hash and/or a link to the transaction on Etherscan or Snowtrace (this is available by clicking on the transaction in your Circle Mint account). This is to help us reconcile the transaction and assign it to you.
Once USDC has been received, vault tokens will be minted to your Login Wallet and your balance on the platform will be updated. This will be same day for investments made on business days before the cut-off time.
Making a Withdrawal
Connect your Login Wallet to the OpenTrade app
Select the vault you would like to withdraw from
Click "Withdraw"
Input the amount you'd like to withdraw
Click "Submit Withdrawal Request"
Approve in your Log In wallet
After the Withdrawal Processing Time, USDC will be sent back to your designated Circle Mint wallet address and the corresponding amount of tokens will be burned.
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