> For the complete documentation index, see [llms.txt](https://docs.cian.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cian.app/bondify/for-users-quick-start/getting-started/mint-and-trade-junior-token.md).

# Mint & Trade Junior Token

1. **Mint JR.** Contribute a looping position to the Junior Token vault. If your LTV differs from the pool target, it's adjusted at entry and the difference returns to you; you receive JR tokens for your NAV.

<figure><img src="https://3390898017-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2VbJsIDm1Amv00TtXuYm%2Fuploads%2FYn1BRum5xiNu6lzm7B2S%2Fimage.png?alt=media&amp;token=bb68e9bd-b37d-45f1-ad66-421051ffe54f" alt=""><figcaption></figcaption></figure>

<figure><img src="https://3390898017-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2VbJsIDm1Amv00TtXuYm%2Fuploads%2FwmNDEBNOK5fqPUB0zeTM%2Fimage.png?alt=media&amp;token=b0172b60-97ed-47b1-9c0a-7ac58121092e" alt=""><figcaption></figcaption></figure>

2. **Swap.** Buy or sell the Junior Token on the swap at the live price. Selling exits your position instantly; buying gives instant managed leverage.

<figure><img src="https://3390898017-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2VbJsIDm1Amv00TtXuYm%2Fuploads%2FVuSC7QPFCsCIyePLNaGq%2Fimage.png?alt=media&amp;token=907af13b-4e78-4823-9e8b-344b8420daf7" alt=""><figcaption></figcaption></figure>

3. **Track positions.** Monitor your JR holdings and redemption value under My Positions.

<figure><img src="https://3390898017-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2VbJsIDm1Amv00TtXuYm%2Fuploads%2F1pZTWerdeNf0hUJsgPcp%2Fimage.png?alt=media&amp;token=490f0974-ad9e-44b7-9572-8b2eeb2a4ec1" alt=""><figcaption></figcaption></figure>