Minting Process

Step 1: Authorization

The department or individual seeking to mint tokens must have the required internal authorization. A formal request is submitted, specifying the recipient account and the number of tokens to be minted, collateral balance or burn balance.

Step 2: Validation

The request is reviewed by the relevant oversight body within the organization to ensure it complies with predefined rules, such as the maximum supply cap. The minting transaction will be performed only after the collateral transaction or burn transaction is proceeded. For the case of migration, the amount of minting token on the destination network must be equivalent to the burning amount from the original network for all cases. If the request is valid, the minting operation is approved.

Step 3: Execution

Token operation team will requisition the hardware wallet that contains the minting key on the destination network. The approved tokens are created and allocated to the specified account. An event is emitted on the blockchain to record the minting action. All the related transactions will be recorded by the finance and accounting team to reconcile with token balance on the individual network. The total supply is updated accordingly.

Step 4: Review

A record of the minting operation is created, including details such as the amount minted and the recipient. Periodic reviews of all minting activities are conducted to ensure compliance with policies and detect any irregularities.