# Using melminter ## Installation and Setup Ensure that you have an up-to-date version of `melminter` installed: ```shell-session cargo install --locked melminter ``` You will need: * A small amount of MEL in your wallet (see setup instructions [here](/developer-guides/using-wallets/getting-started.md)). This is because Melmint transactions are required to pay transaction fees, just like every other transaction. {% hint style="info" %} If you simply want to try this out on the testnet, you can acquire testnet MEL yourself via a faucet transaction, as shown [here](/developer-guides/using-wallets/getting-started.md#fund-wallet). If you wish to participate in mainnet melminting, please ask for some MEL in the #mel channel of our [Discord server](https://discord.com/invite/qfg35paESn). {% endhint %} ## Running melminter ```shell-session melminter --payout ``` The first time you run `melminter`, it will ask you to send a particular address a small amount of MEL in order to start. This is so that it can pay initial transaction fees. Send that money, and after around 30 seconds you'll see a nice TUI show up:
Running `melminter` will generate ERG, a temporary token representing computation, and immediately exchange it for MEL. Note the *daily return* line in the terminal output, which predicts how much computational work (in DOSC) the minter will do in 24 hours, as well as how much MEL that will buy. ## Caveats Bidding for MEL with computation is not always profitable. Because of the mechanics of Melmint, **minting is very unlikely to be profitable** unless you either have a top-of-the-line CPU and cheap electricity, or Melmint is off-peg. This is because Melmint is not a proof-of-work consensus system, but rather a *pegging arbitrage* system that is only really used to restore the MEL/DOSC . Transient volatility in the MEL/ERG exchange rate may also affect profitability. `melminter` makes no attempt at guessing whether or not minting is profitable. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.melproject.org/developer-guides/getting-tokens/using-melminter.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.