Mint

How it is used

Very common with NFTs: mint an NFT, mint price, public mint, free mint. Stablecoin issuers mint new coins when customers deposit money and burn them when customers redeem. The word comes from a mint, the place where a state makes its coins.

Example sentences

1. You will need some ETH in your wallet to pay the gas when you mint the NFT.

2. The issuer minted 50 million new stablecoins after a large customer deposit.

3. Only the admin wallet can mint new tokens, so we keep its key in cold storage.

Common collocations

• mint an NFT
• mint tokens
• mint price
• public mint
• mint and burn

Related terms

• burnTo remove tokens from circulation permanently, usually by sending them to an address that nobody controls or by using a contract function that destroys them.
• NFTShort for non-fungible token: a unique token on a blockchain that proves who owns a specific item, such as digital art, a ticket or an in-game object. Unlike coins, one NFT cannot be swapped one-for-one with another.
• tokenA digital asset created on top of an existing blockchain, usually by a smart contract, rather than on its own network. Tokens can stand for money, voting rights, access to a service or a unique item.
• smart contractA program stored on a blockchain that runs automatically when certain conditions are met. Once deployed it usually cannot be changed, and it can hold and move funds without a middleman.
• stablecoinA crypto token designed to keep a steady price, usually one US dollar, backed by cash and bonds, by other crypto or by an algorithm. It is used for payments, trading and moving money between platforms.

More terms: Coins & Tokens

• cryptocurrency
• Bitcoin
• Ethereum
• altcoin
• ERC-20
• tokenomics
• airdrop
• ICO
• circulating supply
• satoshi