🆕Minting and Redemption

Minting

$Piku facilitates a straightforward minting process for KYC/KYB-verified users directly through the Piku Platform. During launch, USDC will be the only asset accepted in exchange for Piku. The minting process is designed to be instantaneous and executed on-chain, with the current minting fee set at 0% to ensure low barriers to adoption.

Redemption

When redeeming Piku, the amount of Piku requested for redemption will be locked at a smart contract address and will be unlocked when the corresponding USDC is deposited The redemption process incorporates a T0 + queue system, balancing the liquidity needs of the platform with the operational integrity of the $Piku ecosystem. Redemption requests that can be processed with the Mint/Redeem contract’s USDC balances will be automatically completed at T0. If backing assets need to be liquidated to satisfy the redemption requests, a multisig action will take place, which will complete at T1. Redemption requests are completed on a first-come, first-served basis.

Detailed how-to guide will be available here when the platform is launched.