# Mint USDM
Deposit USDC, get USDM. The rate is always **1:1**. Minting by itself does not earn yield; for that, see [Stake USDM](/guide/stake.md).
## Prerequisites
* Wallet connected to HyperEVM.
* Some USDC on HyperEVM.
* A small amount of HYPE for gas.
## Steps
Minting takes **two transactions**: approve, then mint.
### 1. Enter the amount
Open the **Mint** page and enter how much USDC you want to convert. The app shows:
* Your USDC balance.
* A **Max** button to fill your full balance.
* A Process indicator listing *Approve* → *Mint USDM*.
### 2. Approve USDC (first time only)
If this is your first time minting (or if your previous approval is less than the current amount) the button will say **Approve USDC**. Click it and confirm in your wallet.
This allows the Monetrix Vault contract to move USDC from your wallet during the mint.
{% hint style="info" %}
Approve is per-amount. If you approved `80 USDC` before and now want to mint `100 USDC`, you'll be asked to approve again.
{% endhint %}
### 3. Mint USDM
Once the approval is confirmed, the button changes to **Mint USDM**. Click and confirm in your wallet.
The transaction calls `MonetrixVault.deposit(amount)`. If it succeeds:
* `amount` USDC is transferred to the vault.
* You receive exactly `amount` USDM (1:1 ratio).
* A toast confirms with a link to the HyperEVM explorer.
### 4. Verify
Your USDM balance should update. You can also check the transaction on the HyperEVM explorer via the toast link.
## What can cause a mint to fail
The frontend pre-checks these conditions before sending the transaction. If any fail you'll see a toast instead of a transaction prompt:
* **Vault is paused**: the protocol is in an emergency paused state.
* **Minimum deposit**: your amount is below the protocol minimum.
* **Maximum deposit**: your amount is above the per-transaction cap.
* **TVL cap reached**: your mint would push total USDM supply above the protocol's TVL cap.
These values are read from the `MonetrixConfig` contract at the time of your transaction, so they reflect live protocol settings.
## After minting
Holding USDM does **not** earn yield on its own. To start earning, go to [**Stake USDM**](/guide/stake.md).
If you only want to exit back to USDC, see [**Redeem USDM**](/guide/redeem.md). Note the redeem path has a cooldown.
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