Deposit
A mint request transfers the required USDC and PMP collateral to their distinct program-controlled vaults in one atomic transaction.
PUSD MECHANICS
HOW THE DOLLAR
WORKS.
Validate
The program validates token accounts, collateral policy, oracle inputs, limits, and the user’s slippage protection before value can move.
Mint PUSD
Only after the checks succeed can the program’s PDA mint PUSD to the user. PMP is never minted for protocol solvency.
Redeem
Burning PUSD returns available reserve collateral under the then-current policy. The program cannot promise an output it cannot deliver.
Read the full design, risk model, oracle requirements, and deployment gates in the protocol addresses page and repository documentation.