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Mint $REP

1. Mint $REP​

Click 'Volume' on the left to enter the production audit interface, here you can view the production information and status of each well. Minted means casting is completed.

Volume

  • You can filter the production status of the corresponding wells by using the filtering function at the top-right corner of the page to select time and status. Alternatively, you can search for specific wells using the search box.

  • For verified yields, you can cast $REP by clicking on 'Mint $REP' in the action bar on the right side of the page.

$REP Minting Frequency​

The frequency of $REP minting is limited by when government production data is updated. Producers can only mint $REP after obtaining the latest government production data and completing the production audit process. Typically, government production data is updated on a monthly basis, which means $REP minting generally follows a monthly cycle.

$REP Token Usage After Minting​

After minting, $REP tokens can be used for several purposes within the Treasurenet ecosystem:

  • Participating in BID: The primary use of minted $REP is to participate in the BID process, which allows users to become Super Validators in the network.
  • On-chain proof of creditworthiness: $REP tokens serve as proof of a Producer's credibility and asset production history.
  • Collateralization: $REP can be used as collateral for financing activities without selling the underlying real-world assets.
  • TCash Minting Verification: Required for verifying the backing of TCash by real-world assets.
  • Pool Creation in Otter: Users must have $REP minting records to create liquidity pools in the Otter platform.

2. View $REP Details​

After minting $REP, you can view the details by clicking on the transaction in your history or through the dashboard.

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