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How to Mint HAI

Here’s a step-by-step guide on how to mint HAI.

Video Tutorial​

How to Mint HAI

Minting HAI allows you to unlock liquidity against your collateral while keeping your exposure to the underlying asset. This page explains how to safely mint HAI through the protocol.

1. Connect to the HAI App​

  • Go to the official HAI app.
  • Connect your wallet on the Optimism network.
  • Ensure you have enough ETH in your wallet to cover transaction gas fees.

2. Choose a Supported Collateral​

Only approved collateral types can be deposited to mint HAI.

Commonly supported collateral includes:

  • haiVELO – Yield-bearing token backed by veVELO
  • alETH – Synthetic ETH from Alchemix
  • Yearn LP vault tokens – Autocompounding LP positions

See Collateral Types for the full list and parameters.

3. Deposit Collateral​

  1. Select the collateral you want to deposit.
  2. Approve the token in your wallet (this is a one-time action per asset).
  3. Enter the amount of collateral to deposit.
  4. Confirm the transaction.

4. Mint HAI​

  1. Choose the amount of HAI to mint.
  2. Keep your vault's health ratio above the minimum requirement to avoid liquidation.
  3. Confirm the minting transaction in your wallet.

The minted HAI will appear in your wallet and your vault will show the updated debt amount.

5. Manage Your Position​

  • Repay debt to unlock collateral.
  • Add more collateral to improve your vault health ratio.
  • Monitor the Redemption Rate & Controller as it affects borrowing costs.

6. Risks and Best Practices​

  • Keep a safe buffer above the minimum collateral ratio.
  • Watch the market value of your collateral - a drop in price can trigger liquidation.
  • Understand the impact of the Redemption Rate on your position.