↩️Unwrap rTokens for Collateral

If you end up holding both rcTokens and rrTokens you have the option to collect collateral back prior to the expiration

This method would be used in two cases

  • you deposit directly with the etherscan contract and receive both rTokens but want to get your collateral back.

  • The deposit zap fails to sell the rcToken and you want to get your collateral back.

Steps to unwrap

Step 1: Click on the "Unwrap" tab under the collateral option you want along with the expiration you desire. In this example we will use 700 rcTokens & 700 rrTokens to unwrap 1 wETH.

Step 2: Enter the an equivalent amount of rcTokens & rrTokens to unwrap desired amount of collateral. In this case 700 of both rTokens will unwrap 1 wETH.

Take into account the mint ratio (example: a mint ratio of 700 means 1 wETH gives you borrowing power of 700 DAI, so you would need to return back both 700 rcTokens & 700 rrTokens).

Step 3: Click the "Confirm Unwrap" button. You will returning your 700 rcTokens & 700 rrTokens to redeem 1 wETH.

Step 4: Metamask will pop up, confirm the transaction to reuturn you're 700 rcTokens & 700 rrTokens to redeem 1 wETH.

Congratulations. You have unwrapped your rTokens for Collateral.

Your screen should look like the below picture. Your available balance will have gone up in relation to how much collateral you redeemed back.