# Minting ONyc

Minting ONyc converts your capital (USDC or USDG) into OnRe's yield-bearing collateral asset. The process differs depending on whether you mint through Open Access or Institutional Access, but the underlying mechanism is the same.

### How Minting Works

Minting ONyc is non-custodial, transparent, and designed for seamless integration across Solana DeFi.

* **Capital Enters OnRe**\
  Users deposit eligible stablecoins into the minting contract (USDC or USDG).
* **Capital is Allocated to Reinsurance Exposures**\
  OnRe deploys the backing collateral into regulated reinsurance programs.
* **Yield is Generated**\
  Reinsurance premiums and performance generate steady, uncorrelated yield.
* **ONyc Supply Grows**\
  Yield is reflected through ONyc's daily auto-compounding mechanism.
* **ONyc Becomes Fully Composable**\
  Holders can use ONyc as collateral, LP on partner venues, trade ONyc, redeem it back into stablecoins.

### Supported Assets

ONyc currently mints against USDC and USDG. Additional assets may be added over time as OnRe expands its collateral base.

### Fees

Minting ONyc carries no mint fee. Users pay network fees on Solana.