> For the complete documentation index, see [llms.txt](https://docs.overnight.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.overnight.fi/user-guides/mint-redeem.md).

# Mint/Redeem

### What Is Minting? <a href="#anchor2" id="anchor2"></a>

Crypto minting refers to the process of **creating new units** of a particular cryptocurrency. This method adds tokens into circulation, enabling them to be traded or used within its ecosystem.

On the Overnight.fi platform, **Tokens+** can be minted in exchange for stablecoins at a 1:1 ratio. This can be done through the **Mint** section on the homepage.

To mint **xUSD**, the Arbitrum blockchain must be chosen.

{% hint style="info" %}
The transferred USDC is sent to the `PortfolioManager`, where it is then deposited into the designated strategies.
{% endhint %}

<figure><img src="/files/xyovuyCgcgfdcsI2FfHx" alt="" width="375"><figcaption></figcaption></figure>

### **How to Mint Tokens+**

Follow these steps to mint Tokens+ on the Overnight platform:

{% stepper %}
{% step %}
**Navigate to the Mint/Redeem Tab:**

On the main page, locate and click the "Mint/Redeem" tab.

<img src="/files/yT4Txa24UzSTEh6O3q39" alt="" data-size="original">
{% endstep %}

{% step %}
**Select Tokens for Minting:**

From the list of tokens in your wallet, select the ones you want to use for minting Token+. For example, to mint **USDC+**, you'll need **USDC**; for **ETH+**, you'll need **ETH**, and so on.

<img src="/files/CkMOGYazvINqMbxaSRui" alt="" data-size="original">
{% endstep %}

{% step %}
**View Transaction Details:**

In the window below, review the key details such as the **exchange rate**, **Overnight fee**, and the **number of tokens** you will receive after the transaction.

<img src="/files/fu8faNxyqIiQcP2jdVMx" alt="" data-size="original">
{% endstep %}

{% step %}
**Approve and Mint:**\
If prompted, approve the transaction in your wallet, then click the **Mint** button to complete the process.

<img src="/files/O3ikl9PyJOegOgDNjeny" alt="" data-size="original">
{% endstep %}
{% endstepper %}

Once the transaction is confirmed, your new Tokens+ will appear in your wallet.

### Redeeming <a href="#redeeming" id="redeeming"></a>

The reverse process, called **Redeeming**, allows users to exchange Tokens+ back into stablecoins or ETH, and xUSD back into stablecoins. This can be done in the **Redeem** tab, effectively withdrawing funds from the strategies.

{% hint style="info" %}
If necessary, the `PortfolioManager` will initiate the withdrawal process from strategies to gather the required amount of USDC for the return. If the collateral falls below the critical threshold, clients can receive a proportional share of assets from the Vault.
{% endhint %}