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Backing a currency means depositing dollars into its vault. You receive share tokens representing the vault’s equity and earn 80% of mint and redeem fees. The tradeoff is FX risk. If the currency strengthens against the dollar, the value of the vault’s liability rises and backer equity falls first. Backers can lose their deposit before currency holders take a haircut.

Deposit

  1. Open a currency’s Earn section.
  2. Enter the dollar amount and review the share quote.
  3. Approve the vault and confirm the deposit.
Deposits require a fresh oracle rate and enough positive equity to price the shares.

Withdraw

Enter the shares to redeem. The vault returns dollars at the current equity value, provided the rate is fresh and the withdrawal leaves the vault above its minimum collateral ratio. The app shows the share price, collateral ratio, mint capacity, and maximum withdrawable amount before you sign.