> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tori.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Minting & Redemption

> Direct protocol access for verified participants

<Info>
  This page describes direct minting and redemption access for verified participants. **Most users do not need this.** You can swap USDC/USDT for trUSD at market rates without any verification.
</Info>

## Overview

Any participant who completes our KYC/AML and risk verification process can access direct protocol minting and redemption operations.

## Who Can Apply?

Anyone can apply for verified access, including:

* Individual users
* Family offices
* Corporate treasuries
* Institutional investors
* Market makers
* Trading firms

## Verification Process

<Steps>
  <Step title="Apply">
    Contact our team at [kyc@tori.finance](mailto:kyc@tori.finance) to begin the application process.
  </Step>

  <Step title="Complete KYC/AML">
    Complete identity verification and compliance screening through our partner.
  </Step>

  <Step title="Risk Assessment">
    Pass our risk assessment process.
  </Step>

  <Step title="Get Whitelisted">
    Once approved, your wallet address is whitelisted for direct access.
  </Step>

  <Step title="Mint & Redeem">
    Access direct minting and redemption through the app.
  </Step>
</Steps>

## Requirements

| Requirement               | Details                                   |
| ------------------------- | ----------------------------------------- |
| **Identity Verification** | Government-issued ID and proof of address |
| **Compliance Check**      | KYC/AML screening                         |
| **Risk Assessment**       | Pass eligibility criteria                 |
| **Wallet Whitelisting**   | Approved wallet addresses only            |

## What You Get

Verified participants can:

* **Mint trUSD**: Deposit supported assets at their market rate to mint trUSD directly from the protocol
  * *Example: Deposit 100,000 USDC when USDC trades at \$1 → receive 99,900 trUSD (after 10bps minting fee)*
* **Redeem trUSD**: Redeem trUSD for USDC or USDT at their market rate directly from the protocol
  * *Example: Redeem 100,000 trUSD when USDC trades at \$1 → receive 99,900 USDC (after 10bps redemption fee)*

## Fees

A 10bps (0.1%) fee applies to mint and redemption operations. This fee covers the costs associated with entering and exiting the underlying backing positions. It is not protocol revenue.

## Security & Transparency

| Component                 | Provider                | Description                         |
| ------------------------- | ----------------------- | ----------------------------------- |
| **Proof of Reserves**     | Accountable             | Real-time, independent attestations |
| **Security Monitoring**   | Hypernative + Internal  | 24/7 threat detection               |
| **Smart Contract Audits** | Sherlock and Nethermind | Comprehensive security audits       |

## Contact

To begin the verification process, contact us at [kyc@tori.finance](mailto:kyc@tori.finance).

***

<Note>
  **Don't want to verify?** You can still use Tori by swapping USDC/USDT for trUSD at market rates on [app.tori.finance](https://app.tori.finance). No verification required.
</Note>