Use this guide to move funds in and out of Everstrike in DEX mode.
Everstrike supports five wallet operations:
Deposit
Withdraw
Stake
Mint
Redeem
Deposit and Withdraw move funds between your wallet and Everstrike.
Stake, Mint, and Redeem convert between USDC and evUSD.
USDC
evUSD
Everstrike currently uses evUSD as trading collateral. To start trading, you deposit USDC, stake it, then mint evUSD.
Before you start, complete How to start trading on Everstrike. You need an account, a connected wallet, and a confirmed wallet address.
Make sure you have:
A connected wallet.
A wallet on a supported network.
Enough gas funds for blockchain transactions.
Deposits only support USDC right now.
Keep at least 0.2 USDC in your wallet to complete the deposit flow.
0.2 USDC
Depositing is a two-step flow:
Approve the amount.
Submit the actual deposit.
Only approve the amount you want to deposit. If you want to deposit 10 USDC, approve 10 USDC.
10 USDC
Make sure your wallet is connected and on a supported network.
Click Deposit next to USDC, then enter the amount.
Approve the spending cap request in your wallet.
This lets the Everstrike smart contract draw the approved USDC amount.
Wait for the approval transaction to be mined.
Click Deposit again.
Enter the same amount you approved earlier.
This second transaction moves the funds into Everstrike.
Confirm the transaction in your wallet.
Wait for the deposit transaction to be mined.
After confirmation, the balance appears in the Deposited row next to USDC.
It can take a few minutes to update because Everstrike waits for enough confirmations.
Withdrawing is a single transaction.
Click Withdraw next to USDC, then enter the amount.
Confirm the withdrawal in your wallet.
Wait for the transaction to be mined.
Staking converts deposited USDC into a staked balance that can back evUSD.
After you stake, you can mint evUSD.
When you later redeem evUSD, the related USDC becomes unstaked. This can take up to 24 hours, but it is usually instant.
Everstrike uses one collateral asset across the platform.
This keeps the collateral system simpler than portfolio margining and makes it easier to support more deposit assets over time.
The tradeoff is one extra conversion step before trading.
Make sure you already deposited USDC.
Click Stake next to USDC, then enter the amount.
Wait for the staking transaction to be mined.
Once staking completes, Mint becomes available next to evUSD.
After staking USDC, you can mint evUSD.
You need evUSD to trade on Everstrike.
Click Mint next to evUSD to start the minting process.
Minting usually completes in 2 to 5 seconds.
After minting, your evUSD balance updates.
Use Redeem to convert evUSD back to USDC.
Click Redeem next to evUSD, enter the amount, then confirm.
Redemptions can take up to 24 hours, but they are usually instant.
After redemption, your USDC balance updates.
Once you have evUSD, you can start trading.
If you have not finished account setup yet, go back to How to start trading on Everstrike.
Last updated 1 month ago
