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Remint

Remint is a one-step function for the burning-and-minting of existing USDV, resulting with USDV in your color which was originally minted by another Verified Minter. Verified Minters use this function to increase their vault share without having to lock any new assets (i.e., recycling existing USDV).
Remint does not change the total circulation of USDV.
Remint can be called by the Verified Minter if their color's delta is positive on any blockchain.
Reminting is a convenient one-step operation for applications to burn other colored USDV and mint it in the application's color.
The above example shows how Verified Minters can leverage high volume low TVL applications such as pools to gain additional vault shares.
  1. 1.
    A $100 balance starts initially as USDV_RED
  2. 2.
    By chance, this balance passes through a pool with Default Color USDV_BLUE.
  3. 3.
    The pool (USDV Pool) recolors $100 USDV_RED to $100 USDV_BLUE.
  4. 4.
    The owner (Verified Minter) of USDV_BLUE calls Remint on the USDV_BLUE delta of +$100
  5. 5.
    USDV_BLUE gains $100 additional vault share, and some other color that was recolored (e.g., USDV_RED) loses $100 vault share.
A reminting fee is applicable. See Fees for more details.
Last modified 3mo ago
Copyright by Verified USD Foundation