Issuance & Redemption

The processes & requirements for the issuance and redemption of mTBILL.

mTBILL Issuance

Step 1: Transfer stablecoins to Midas

Once you complete the onboarding process, you can purchase mTBILL by sending USDC to the Midas platform. This is performed by interacting with the mBASIS module on https://midas.app/mTBILL.

💡 When you purchase mBASIS from Midas for the first time, a minimum investment of 120,000 USDC is required. There are no minimums for the following transactions.

Professional Investors under MIFID are exempt from any minimums.

Step 2: Receive your mTBILL tokens

Midas will acknowledge your deposit within two business days.

Your USDC will be used to acquire IB01 ETF shares. The amount of acquired shares is converted 1:1 with mTBILL tokens. Those tokens are automatically sent to your wallet.

mTBILL Redemptions

Step 1: Transfer your mTBILL tokens to request a redemption

You can redeem your mTBILL tokens for USDC on the Midas platform.

This is performed by interacting with the mTBILL module on https://midas.app/mTBILL.

Step 2: Redemption request acknowledgment

Midas acknowledges the redemption request within one business day and sells IB01 shares accordingly, at a 1:1 exchange rate with mTBILL.

Redemptions are processed daily, with USDC generally returned within one to two business days.

Step 3: Receive your stablecoins

The proceeds generated from the sale of IB01 shares are converted into USDC. This USDC is then transferred to your wallet.