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 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.
When it attaches
The conversion-minter attaches to the target asset of a conversion pair. The Asset Designer wires it automatically when the source-asset template includes the conversion feature and 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
The conversion-minter has no operator-configurable parameters. The Asset Designer marks it as self-contained; configuration happens on the source asset's conversion feature, not here.
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.
- Routine conversions need no separate operator step. The minter executes on chain alongside the source-side conversion call.
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
| 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
- Conversion: required companion feature on the source asset.
- Conversion architecture
- Feature constraints