How to obtain cUSDT to participate in Phantom’s upcoming Mainnet Mining?

To participate in the Phantom mainnet launch reward program, you will need cUSDT as the collateral to create synthetic assets (pAssets).

Since cUSDT is the USDT equivalent on the Conflux blockchain, it can be obtained in 3 ways:

1: Cross-chain with ShuttleFlow

You can have your ERC-20 USDT and get them through ShuttleFlow cross-chain (from Ether cross-chain to Conflux)

https://shuttleflow.io/eth/shuttle/in

2: Purchase on Moonswap

Buy cUSDT directly from Moonswap using CFX

https://moonswap.fi/exchange/swap

3: Lend cUSDT on Flux

Flux is a decentralized lending protocol powered by Conflux. You can use cryptocurrencies like CFX to lend cUSDT and participate in the Phantom mainnet mining reward.

https://flux.01.finance/?chain=conflux

Now we will go into details on how each method of obtaining cUSDT:

1. Swap USDT for cUSDT with ShttleFlow

The following tutorial will walk you through the steps of converting USDT to cUSDT using ShuttleFlow:

All you need to get started is:

  1. A computer with Google Chrome installed
  2. ERC-20 USDT in your MetaMask wallet (to shuttle in)
  3. Your Conflux Portal wallet (to receive cUSDT)

If this is your first time using the Conflux Portal wallet, please refer to the “Reference: Installing the Conflux Portal wallet “ Part of this guide.

Conflux Portal wallet Link: google chrome extension store ConfluxPortal installation page

1) Visit ShuttleFlow

Go to https://shuttleflow.io/shuttle?fromChain=eth&fromTokenAddress=0xdac17f958d2ee523a2206206994597c13d831ec7&toChain=cfx and click on the “Connect Wallet” button in the upper left corner.

Noted: the chain on the top is where you are transferring your assets from; the chain on the bottom is where you are transferring your assets to.

2) Connect Wallet ( Both Metamask & ConfluxPortal Wallet)

Click the “connect wallet” button to open the panel, there will be 2 buttons:

  • Connect MetaMask
  • Connect ConfluxPortal

We’ll need to complete both connections to turn ERC20 USDT to Conflux cUSDT.

Connect your metamask wallet:

Then connect your Conflux Portal wallet:

3) Input Amount

Enter the amount of ERC-20 USDT in the Ethereum field, which must be greater than 0 and not greater than the total amount of USDT in your MetaMask wallet. Then click “Next” to proceed:

4) Confirm Cross-Chain

Click “Send” and confirm the transaction in the MetaMask wallet.

When the wallet window popup, confirm the transaction:

Note: Please ensure there is a sufficient amount of Ethereum in your wallet to cover the gas fees.

The process takes about 1–3 minutes to complete. After the transaction is submitted, you can click on “View on Scan” and direct it to the ConfluxScan blockchain browser to check the transaction status.

5) Check your balance in ConfluxPortal Wallet

If the token cannot be found, you may need to add it by “Add Token”, then search cUSDT to display balance.

2. Buy cUSDT on Moonswap

1) Go to https://moonswap.fi/exchange/swap

2)Connect your Conflux Portal Wallet ( Make sure you are in Conflux Tethys blockchain)

When the popup window appears, click “Submit” to connect your Conflux Portal account to Moonswap.

3)Select Token pairs, for example, CFX to cUSDT:

4) Fill in Amount then press the “Swap” button:

Click “Confirm Swap” :

5) Confirm swap in the wallet

Click “Confirm” in your Conflux Wallet Pop-up window:

6) When the “Transaction Submitted” window appears, it means that the transaction has begun to execute.

Wait a few seconds for the success message, and you can view the transaction in ConfluxScan.

7) You will see the purchased cUSDT in your wallet.

Now you can use that cUSDT to participate in the Phantom mainnet mining rewards campaign.

3: Lend cUSDT on Flux

You can deposit CFX on the Flux platform and then lend cUSDT to participate in Phantom mainnet reward mining.

Here is how it works:

1)Go to FLUX.

Visit https://flux.01.finance/?chain=conflux. Please ensure you are on the Conflux Tethys Networks.

2)Connect Wallet

Click on “Connect Wallet”. select ConfluxPotal Wallet and Confirm connection.

3) Deposit CFX

You need to have a collateral deposit on Flux to borrow cUSDT. Take CFX for example. select CFX on the Supply Market, input deposit Amount then Click the “Supply” button.

Confirm transaction in the Wallet:

The supply asset detail will then appear on My Dashboard.

4) Borrow cUSDT

Select cUSDT in the “Borrow Markets“ Section:

Fill in the amount you need to borrow, and you can also choose a percentage, such as 50% or MAX. Then click the “Borrow” purple button.

Confirm in your Portal Wallet:

5) Go to My Dashboard’s Borrowing section to see how many cUSDT you’ve lent.

At this point, you can participate in the activity using the borrowed CUSDT.

When you’re about to return cUSDT, simply connect your wallet to Flux and select Repay in the Borrow Market.

Note: There is no need to pay for Gas in the Flux since Conflux Foundation and Flux will cover all costs.

These are the three methods for obtaining CUSDT; please select the appropriate method for you!

If you encounter any problem, please contact Phantom’s community https://t.me/PhantomProtocol and we will gladly assist you.

Reference: How to Install the Conflux Portal wallet on Chrome?

  1. Open the ConfluxPortal installation page in Google Chrome and click “Add to Chrome”.

2. Select the “Continue to install” button in the popup window.

You will see a Welcome Page after installation.

Reference: Create Your Portal Wallet

  1. Click on “Get Started” on the welcome page, and select “Create a Wallet”.

2. Click on “Get Started” on the welcome page, and select “Create a Wallet”.

3. Select “No, thanks” on the information collection page

4. Set a password of 8 or more digits, check the T&C box, and click “Create”.

5. In the next step, you can either write down the backup phrase or skip this step by clicking “Remind me Later”.

So your wallet is ready to go.

If you run into any issues while operating, please ask for assistance in our Telegram group or on our official Twitter; our community members will be happy to assist you.

Happy mining 🚀 !

The ultimate cross-chain protocol for Synthetic Asset issuance & exchange

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