> For the complete documentation index, see [llms.txt](https://docs.noon.capital/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.noon.capital/2.-usdusn-and-usdsusn/mint-and-redeem.md).

# Mint & Redeem

Mint and redeem create and return <mark style="color:violet;">**$USN**</mark> directly to the protocol. Both are **permissioned** and intended for **onboarded institutions**. Individuals can acquire <mark style="color:violet;">**$USN**</mark> through the permissionless route described in [**How to buy&#x20;**<mark style="color:purple;">**Noon**</mark>**&#x20;Assets**.](/getting-started/how-to-buy-noon-assets.md)

## <mark style="color:$primary;">Mint</mark>

Mint creates new <mark style="color:violet;">**$USN**</mark> by depositing **eligible collateral** with the protocol. It is restricted to whitelisted, onboarded parties. To mint, a party must complete **onboarding**. This includes AML (Anti-Money Laundering), KYC (Know Your Customer), and, where applicable, KYB (Know Your Business) checks. To request access, contact [**whitelist@noon.capital**](mailto:whitelist@noon.capital).

* **Minimum mint size:** USD1,000,000
* **Eligible collateral assets** for primary mint: USDT and USDC
* **Supported networks** for primary mint: Ethereum
* **Settlement time** (how long mint takes to complete): 2-5 mins
* **Fees**: 0 (other than Ethereum gas fees)

## <mark style="color:$primary;">Redeem</mark>

Redeem returns <mark style="color:violet;">**$USN**</mark> to the protocol for its **underlying value**. Like mint, it is permissioned.

* **Redeem minimum:** N/A
* **Daily limit** values: 20% of protocol TVL
* **Settlement time / SLA** for a redeem to complete: T+0 (within 24hrs)
* **Fees**: 0 (other than Ethereum gas fees)

Permissionless holders can also **exit&#x20;**<mark style="color:violet;">**$USN**</mark> **by selling on supported exchanges**. Redemption is only available for permissioned institutional partners who have been whitelisted via AML, KYC and KYB checks. See [<mark style="color:violet;">**$USN**</mark>**&#x20;or&#x20;**<mark style="color:violet;">**$sUSN**</mark>**?**](/2.-usdusn-and-usdsusn/usdusn-or-usdsusn.md) for how liquidity differs between routes.

### Where to go next

* Buying <mark style="color:violet;">**$USN**</mark> as an individual → [**How to buy Noon Assets**](/getting-started/how-to-buy-noon-assets.md)
* Fees and other charges → [**Fees**](/2.-usdusn-and-usdsusn/fees.md)
* Canonical contract addresses → [**Contracts Addresses and and Oracles**](/6.-resources/contract-addresses-and-oracles.md)
* If you are an institutional partner, and a mint or redeem fails → [**Troubleshooting**](/6.-resources/troubleshooting.md)