# Mint and Redemption of Index Tokens

**Minting** refers to the creation of new index tokens that track the performance of a professionally curated basket of assets. **Redemption** is the reverse process—exchanging index tokens for the underlying basket assets or stablecoins.

These operations are available **exclusively to whitelisted users** who meet specific eligibility criteria and complete all required verification procedures, including KYC, AML, and CFT checks. Minting and redemption are conducted **on-demand and privately**, ensuring compliance and control.

Users who are **not whitelisted** can still access index tokens through **secondary markets** (e.g., DEXs or CEXs on Solana). However, they do **not hold any legal or contractual right** to redeem tokens for underlying assets or make claims on the basket.