A step-by-step guide to minting JPEGz on Arbitrum

<aside> 💡 TLDR: JPEGz can be minted on Arbitrum, offering users fast transactions, low gas fees, and security, governance, and decentralization. Examples of minting JPEGz with ETH are provided, but other collateral types such as DAI and wETH are also available.

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Minting JPEGz on Arbitrum

1. Have ETH available to use in a decentralized wallet.

   (If you already have a decentralized wallet you can move on to step 2.)

   • Create a MetaMask wallet on https://metamask.io/. Other decentralized wallets like Coinbase Wallet will work as well but for this guide, we will be using MetaMask.
   • Use desktop (the preferred experience) not mobile

   

2. Add Arbitrum to your MetaMask wallet.

   (If you have Arbitrum added already you can move on to Step 3.)

   • Go to chainlist.org
   • Search Arbitrum
   • Select Arbitrum that shows ChainID 42161 and Currency ETH
   • A pop-up will show in your MetaMask wallet, click Next, click Connect
   • Click on Add to MetaMask under Arbitrum
   • A pop-up will show in your MetaMask wallet, click Approve, then click Switch Network

   

3. Send ETH from Ethereum Mainnet to Arbitrum

   (If you have ETH on Arbitrum already, you can move on to Step 4.) There are several ways to bridge ETH from Ethereum Mainnet to Arbitrum, such as the Arbitrum Bridge, Zapper, Synapse, and Hop. For this guide, we will use the Arbitrum Bridge.

   • Visit https://bridge.arbitrum.io/
   • Select From as “Mainnet” and enter the amount of ETH you want to send
   • Select To as “Arbitrum”
   • Click Approve and confirm the transaction
   • Click Send and confirm the transaction

   

4. Create a Vault

   • Visit app.cryptex.finance/vault
   • Ensure your network is set to Arbitrum, not Mainnet or any other network.
   • Click Create Vault then approve the MetaMask transaction
   • Click Approve Vault then approve the MetaMask transaction

   

5. Deposit ETH as collateral

   • Enter an amount of ETH under Add Collateral (Staked Collateral)
   • Click Add
   • Approve the transactions in MetaMask

   

6. Mint JPEGz

   • Enter an amount of JPEGz under Mint JPEGz (Vault Debt)
   • Review the Vault Ratio %. If you are new to collateral ratios we suggest you check this out: https://www.youtube.com/watch?v=qoZKIS0tFY4&t=169s
   • Click Add
   • Approve the transaction in MetaMask

   

That’s it! You’ve successfully minted JPEGz.