# Conversion minter

Source: https://docs.settlemint.com/docs/operators/token-features/conversion-minter
How the conversion-minter token feature mints target-side tokens during a conversion exchange, paired with the conversion feature on the source asset.



The conversion-minter token feature attaches to the target asset of a conversion exchange. It mints target tokens to a holder when the paired [conversion](/docs/operators/token-features/conversion) feature on the source asset burns the holder's source position. The two features always compose; the minter does not operate standalone.

For the architecture reference, see [Conversion](/docs/architects/components/token-features/conversion).

## When it attaches [#when-it-attaches]

The conversion-minter attaches to the target asset of a conversion pair. The Asset Designer attaches it automatically when:

* The source-asset template includes the conversion feature.
* The target asset is an equity-class (or retirement) token in the tenant.

The convertible-note template (`system-convertible-note`) attaches both conversion and conversion-minter to the appropriate sides of the pair.

## What you configure [#what-you-configure]

Nothing during asset creation. The feature has no operator-configurable parameters. The Asset Designer marks it as self-contained.

## What you operate [#what-you-operate]

After deployment:

* **The minter authorises the conversion contract** to mint on the target. This authorisation is wired automatically during Asset Designer setup when both assets sit under the same operating organisation.
* **Holders trigger conversion on the source asset**; the conversion feature burns the source position and the conversion-minter mints the matching target position to the holder's wallet.
* **No separate operator action** is required for routine conversions. The minter executes on chain alongside the source-side conversion call.

## Operating considerations [#operating-considerations]

* The minter requires the conversion-minter role to be granted on the target asset. The Asset Designer grants this during deployment when the operating model matches; cross-organisation conversions need an explicit grant from the target asset's operator before the minter can act.
* Removing the conversion-minter authority on the target asset breaks all future conversions through the paired conversion feature. Do not remove the authority unless the conversion lifecycle has ended.
* The minter does not move tokens on its own. It mints only in response to the paired conversion contract's burn-and-request flow.

## Troubleshooting [#troubleshooting]

| What you see                                  | What to check                                                                                                                                                                               |
| --------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Conversion fails with "minter not authorised" | The conversion-minter role on the target asset is missing. Grant it through the target asset's role-management workflow.                                                                    |
| Wrong target amount minted                    | Confirm the conversion configuration (discount, cap, price feed) on the source asset; the minter executes the amount the conversion feature requests.                                       |
| Minter active on retired source asset         | Conversion-minter authority can stay live on the target after the source matures. Revoke through the target asset's role-management workflow when the conversion lifecycle has fully ended. |

## Read next [#read-next]

* [Conversion](/docs/operators/token-features/conversion) — required companion feature on the source asset.
* [Conversion architecture](/docs/architects/components/token-features/conversion)
* [Feature constraints](/docs/architects/components/token-features/feature-constraints#dependency-rules)