Acquire

Overview

Acquire creates new units of a stablecoin by committing collateral you already hold. You hand over a wrapped asset — BTCU, say — and receive the stablecoin, backed by what you committed.

It is one of three ways to obtain an asset on UNIT, and the one for wrapped fiat. Buy pays with a card; Swap trades on a market; Acquire issues against collateral.

The Acquire screen for USDU. The heading reads "Acquire USDU — get USDU using supported collateral assets", with a stage bar reading Step 1 of 4 · Details, then Review, Confirming and Completed. A panel headed "Choose collateral and amount" shows an Asset of BTCU Bitcoin with a balance of 51.2987 BTCU, and an Amount field with USDU and BTCU toggles, available balance, and 25%, 50%, 75% and MAX shortcuts. An "Acquire USDU" button follows. A Summary panel on the right lists "You will receive 0 USDU", "Collateral required 0 BTCU", the BTCU price, and "Backing: BTCU reserves". — Acquire — choosing the collateral and the amount Stage 1 of 4

What You Can See

The heading: Names what you are acquiring, and states that it is obtained using supported collateral assets.
Stage bar: Details, Review, Confirming and Completed, with a step counter.
Asset: The collateral being committed, with your balance of it.
Amount: Two toggles let you enter the figure either as the stablecoin you will receive or as the collateral you will spend, with 25%, 50%, 75% and MAX against your available balance.
Summary: You will receive, Collateral required, the collateral's current price, and what the new units are backed by. It updates as you change the amount.

Before You Begin

A supported collateral asset with a balance — the screen names it and shows how much you have.
The amount, in whichever direction you are thinking.
A signing account connected.

How to Use This Screen

Open the stablecoin from Explore Markets — filter to Stablecoin to find one.
On the token page, check it reads Mint Enabled, then select the primary action Acquire.
Check the Asset panel — this is the collateral that will be committed.
Decide which way round to enter the amount, and select the matching toggle.
Enter the Amount, or use 25%, 50%, 75% or MAX.
Read the Summary: You will receive against Collateral required. Check the implied rate is one you accept.
Select Acquire to move to Review, where it is summarised before signing.
Sign. The screen moves to Confirming, then Completed.

What Happens Next

The stablecoin appears in your balances on the Wallet Overview, and the collateral leaves them. The acquisition carries a reference you can find again in History.

Tips

Read the summary before committing. It is the only place the exchange is shown in both directions.
Enter the amount in the direction you are actually thinking — how much you want, or how much you are willing to spend.
The collateral price drives the amount required, so a moving price moves the figure.
Acquiring is not buying. To pay with a card use Buy; to trade on a market use the token's Swap.

Related Screens

The Token Page — where Acquire starts
Explore Markets — finding a stablecoin
Buy — acquiring with a card instead
Wallet Overview — where the stablecoin appears

Frequently Asked Questions

How is this different from buying or swapping?: Buying pays with a card. Swapping trades on a market. Acquiring issues new units against collateral you commit.
Do I get my collateral back?: No. It becomes the backing for what you acquired. It is an exchange, not a deposit.
Which assets can be used as collateral?: The screen names the supported asset and shows your balance of it.
Why does the collateral required keep changing?: It is calculated from the collateral's current price, which moves.
Can every stablecoin be acquired?: Only where the token page reads Mint Enabled.

Troubleshooting

The screen says it could not check availability: The check did not complete. Wait a moment and reload before entering an amount — the summary depends on it.
The action is unavailable: Check an amount has been entered and that it is within your collateral balance.
The summary shows zeroes: No amount has been entered yet; it fills in as you type.
I do not have enough collateral: Use a smaller amount, or bring more in first — see Deposit.