Utilization of whitelisted stablecoins

Minting of RWA

When a user initiates the minting request with a stablecoin, the stablecoins are sent to the Genifi vault contract, and a redemption request is simultaneously sent to the issuer along with the stablecoins from the vault.

1. Upon making a mint request, the specified amount is transferred to our investment firm, which then receives instructions on which asset to purchase and places the order on the exchange.

2. Once the asset acquisition is confirmed, an RWA token authorization request is sent to the RWA treasury, and the token is issued to the client.

Redemption and Minting Process

When an RWA redemption is initiated, the following steps occur:

1. RWA Token Transfer: The RWA token is sent to the RWA treasury.

2. Asset Sell Order: A sell order is placed on the exchange for the exact amount of assets being redeemed.

3. Sell Confirmation and Distribution: Once the asset sale is confirmed, the proceeds are internally transferred, and the chosen stablecoin or fiat is credited to the client.

Independent minting and redemption of stablecoins from other issuers:

On the stablecoin page, any whitelisted stablecoins can be chosen for minting and redemption.

Mint Request: A minting request is sent to the stablecoin issuer alongside the fiat balance required for the issuance. Once the stablecoin is issued, the client can claim the chosen stablecoin in their wallet through the stablecoin page.

Stablecoin Redemption: Once the redemption request is sent, the stablecoins are burned by the partner (other issuers), and we instantly credit the fiat to the client's account.