How to Mint & Redeem Parity Dollars

Mint-Redeem Module

The first step in using the Parity protocol is minting Parity Dollars (PUSD). To do this, users should navigate to app.parityusd.fi and access the mint-redeem module. Below is an annotated guide that walks you through the key elements of this module, providing step-by-step instructions.

1. Whitelist Access (Invitation-Only)

For now, the protocol operates on an invitation-only basis. To get started, you must request to be whitelisted by sending a request to [e-mail]. Only whitelisted addresses can access the protocol.

2. Connect Wallet

After getting whitelisted, you can connect your wallet by clicking the "Select Wallet" button. Before you proceed, you will be prompted to accept the Terms of Service. Only then can you mint or redeem PUSD.

3. USDC Input Field

This field is where you enter the amount of USDC you wish to exchange for PUSD. The exchange rate is fixed at 1:1. Once you input the amount, click "Mint" and confirm the transaction in your wallet. Upon confirmation, PUSD will automatically appear in your wallet.

4. PUSD Tokens Received

This section shows the amount of PUSD you will receive based on the USDC you entered. Since the exchange rate is always 1:1, the number of PUSD tokens you get will exactly match the amount of USDC provided.

5. No Fees (Mint/Redeem)

The Parity protocol charges no fees for either minting or redeeming PUSD. This means that whether you’re minting new PUSD or redeeming PUSD back to USDC, the ratio will always be 1:1, without any hidden costs.

6. Mint/Redeem Toggle

Use this toggle to switch between Minting and Redeeming modes. In Mint mode, you exchange USDC for PUSD, and in Redeem mode, you exchange PUSD for USDC. This simple toggle helps you seamlessly navigate between both functions.

7. Buy/Stake Toggle

This tab allows you to switch between the "Buy" (Minting/Redeeming) interface and the "Stake" interface. Use this option when you want to stake your PUSD to earn rewards after minting.