Burning tFIAT Tokens

Burning tFIAT tokens is a way of transferring value outside of the blockchain into the FIAT system. The process consists in you sending some tFIAT tokens to the admin of your Ramp so he/she can burn it and send the amount burnt (minus the burning fee) to you using the payment method you agreed on.

Here is a step-by-step guide.

• Click on the Product tags tab in the page's Header and select the currency you wish to transfer to only list ramps that process your currency

• Select the Manual tab to only list manual ramps

• Find the Ramp you want to use for the operation in the list of available ramps and go to its control panel by clicking on its Control Panel button available in its details panel

• Read the guidelines of your ramp on how to burn your tokens. The ramp in the image above for instance is asking us to contact an admin on PayChat in the room @payswap::matrix.org. So the next step is to contact them with the details about our burn operation

I AM AN ADMIN

• Make sure your users have sent you the tokens to burn

• Select the correct token market in your ramp's panel

• Go to the control panel menu of your ramp and click on the Burn button. Enter the amount of tFIAT to burn and validate the form

• After the burn operation is complete, send the equivalent in FIAT currency of the amount of tokens burnt to your user using the payment method you agreed upon.