> For the complete documentation index, see [llms.txt](https://seth-on-blast.gitbook.io/seth-on-blast/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://seth-on-blast.gitbook.io/seth-on-blast/who-is-seth/mechanisms.md).

# Mechanisms

SETH can be minted directly through the contract using our UI \[] by depositing the backing asset ( ETH for SETH)

### Redeem / Minting 3%

SETH can also be redeemed by burning them directly in their contract in order to receive back the backing asset ETH at any time.

Both Mint and Redeem are affected by a dynamic fee that guarantees all the SETH functionalities work as intended.

The Minting and Redeeming fee can be modified by the  multisig but it is capped between 1% and 4%. At Launch the 

Fee will be set at 3% and the revenue divided in the following way:

1% LP Providers

1% Compounded into the contract allowing the price to increase against its backing for every Mint / Redeem that occurs.

1% Treasury to stimulating SETH's ecosytem.