Redemption

In order to burn omUSD token, burner should request redemption by calling depositOmUSD function of a FinanceHub smart contract (0xBD47522daFC402f64519de1FA86007A894fEe898). Minimum burn amount is a parameter controlled by DAO, initially set to 1k omUSD.

If at least one burning deposit is registered, any Ethereum user can call requestRedemptionDAO function which will send OUSG amount, equal to omUSD aggregated at the moment of redemption request, to OUSG protocol. After processing redemption request by Ondo the redemption process can be finalized by calling distributeUSDC function burn omUSD and receive USDC and distribute it to original burners with 1:1 ratio to their omUSD burns.