Use Vaults (ma/mcToken)
In this tutorial, one will learn how to get some maToken or mcToken through 2 different manners.
A maToken (e.g. maUSDC or maUSDT) and mcToken (e.g. maUSDC or maUSDT) represent tokenized supply positions on Morpho-Aave and Morpho-Compound, respectively. They are created using ERC-4626 vaults.
- How to swap a token for a ma/mcToken?
Let's take an example with USDT -> maUSDT.
A: Approve access to your USDTand do the following steps:
- 1.Connect your wallet to the “web3 🔴” on Etherscan
- 2.Approve X amount of tokens on the USDT contract. The decimals of the token are in the decimals section in the “Read Contract” section.
- 3.Go to “Write Contract” section, enter the correct details into “2. approve”, and click “write” button_spender: the maUSDT vault address, in the Broken link section._amount: 20000000 (20 tokens, 6 decimals)
B: Deposit USDT into maUSDT vaultOnce approved, you need to deposit the USDT into the vault.
- 1.Double-check the contract address of the maUSDT vault in the deployment section of the developers’ documentation of morpho.
- 2.Once confirmed, go navigate to the “Contract” tab and the “Write as Proxy” section, and fill receiver and assets like this:
- receiver: your wallet address
- assets: in the example, we use 10 000 000 (10 tokens, and 6 decimals)
Congrats, you now possess some maToken or mcToken.
💡 If one wants to re-deposit other assets and has trouble doing it: -> start again this tutorial, but first approve an amount to 0, wait a minute and then restart entirely as written.