# The rhoToken

The Flurry protocol issues **rhoTokens**, the utility tokens which are backed 1:1 by its underlying stablecoins:

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#### **`1 rhoUSDT = 1 USDT`**

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![rhoUSDT](/files/7wVV38oT3VSyt62NQ4yV)

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#### **`1 rhoUSDC = 1 USDC`**

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![rhoUSDC](/files/QwiyksphId46Ffl6x1Ag)

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#### **`1 rhoBUSD = 1 BUSD`**

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![rhoBUSD](/files/zqfAKR2gXHN11Ay3272h)

### **Minting rhoTokens**

Users convert their **USDT** / **USDC** / **BUSD** into **rhoUSDT** / **rhoUSDC** / **rhoBUSD** using the **Flurry Protocol**. Depositing a stablecoin will result in the issuing of the corresponding rhoToken. Once the rhoTokens are in your wallet, you can **hodl**, **trade**, or redeem them whenever you want!

Check out the how to mint rhoTokens through the [**Flurry DApp**](https://app.flurry.finance/) in the portal below:

{% content-ref url="/pages/NO9Bp63p4TkvMwjEjQeV" %}
[Earn](/flurry-finance/user-guide/earn.md)
{% endcontent-ref %}

### **Redeeming rhoTokens**

Users can convert their rhoTokens back into their corresponding stablecoins using the **Flurry DApp** (also through the portal for **minting rhoTokens** above).

There is no exit fee currently, though Flurry Finance reserves the right to charge an exit fee in the future (in the range of 0.5%).


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