# Token Mechanics - Mint & Redeem

$UP can only ever be minted through the dApp with BUSD. Initially the only way to acquire $UP will be through the dApp. Eventually liquidity will be added to the open market to purchase $UP through DEX’s and other protocols.

All mints charge a variable fee (.1-5%). Fee will vary with market conditions and during promotional periods. Initial fee on minting will be 4%.

Redemption can be considered selling $UP in an OTC (Over the Counter) direct exchange between the user and the protocol with no price impact beyond the Redemption Fee. All redemptions charge a variable fee (.1-5%) Fee will vary with market conditions and during promotional periods.\
Initial fee on redemption will be 5%

## **MINT**

* $UP can only ever be minted through the dApp with accepted assets like USDC and BUSD
* Initially the only way to acquire $UP will be through minting on the dApp, eventually liquidity will be added to the open market to purchase $UP through DEX’s and other protocols
* All mints charge a variable fee (0-5%)
  * 5% Cap
  * Fee will vary with market conditions and during promotional periods
  * Initial fee on minting will be 4%
  * 0% fee promotional periods do not increase price but offer incentives for supply increase at opportune times
    * 100% of purchase will go into backing treasury

## **REDEEM**

* Redemption can be considered selling $UP in an OTC (Over the Counter) direct exchange between the user and the protocol with no price impact beyond the redemption fee
* All redemptions charge a variable fee (0-5%)

  * 5% Cap
  * Fee will vary with market conditions and during promotional periods
  * Initial fee on redemption will be 5%
  * 0% fee promotional periods do not increase price on redemption but will be instated at opportune times to give our community time to take profit without fee and to reduce supply at opportune times
  *

  ```
  <figure><img src="/files/JB5EupNEEorP473syhig" alt=""><figcaption></figcaption></figure>
  ```


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