VNST
English
English
  • Table of contents
    • VNST Whitepaper
    • 📚Terms & Definitions
      • Common Terms
      • VNST Protocol Terms
    • 💎Overview
    • đŸ’ŦIntroduction
      • What Is VNST?
      • Why Was VNST Established?
      • Token Infomation
      • Roadmap
    • đŸĒ™Core Concepts
      • VNST Protocol
      • Exchange Rate Determination
      • Mint & Redeem
      • Covered Amount
    • 💰BoS - Basket of Stablecoin
      • Stablecoin Evaluation Framework
    • 📈Applications Of VNST
    • 🤝Merchant Of VNST
      • Merchants
      • Responsibility & Benefits
    • đŸĻIssuer
      • Organization
    • 🔰Advantages and Disadvantages
    • â„šī¸Tutorial
      • How to install the wallet extension?
      • How to Mint & Redeem
    • â‰ī¸FAQs
      • Basic Information
      • Common Errors
    • đŸ‘ĨCommunity
    • 📖Legal Terms
    • Page
Powered by GitBook
On this page
  1. Table of contents
  2. Core Concepts

Mint & Redeem

Mint: This implies that VNST will be newly generated and added to the system's circulating supply automatically. After connecting the user's Wallet and converting a certain amount of USDT into VNST Protocol, the user will receive an equivalent amount of VNST based on the pricing at the time of conversion.

Note:

  • The volume of VNST generated after a successful Mint processing request, VNST will be automatically added to the circulating supply.

  • The system will display the transaction history (TxH) corresponding to the Mint transaction.

Redeem: This implies that after connecting the user's Wallet and depositing a certain amount of VNST into the VNST protocol, the user will receive an equivalent amount of USDT.

Note

  • The volume of VNST deposited will be automatically burned after a successful conversion request.

  • The system will display the transaction history TxH corresponding to the redeem transaction

  • A successful redeem transaction will incur a 0.1% redeem fee based on the amount of USDT received by the user.

General Note:

  • During the transaction process, if there is a change in the exchange rate, users will be prompted to update and confirm the new exchange rate

Last updated 1 year ago

đŸĒ™