The Mint page allows users to mint $MAG from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity minting and the latter is reserve minting. The minting action creates bonds that take 5 days (15 epoch) to vest, and $MAG tokens are vested linearly to the user over that period.
Liquidity minting helps the protocol to accumulate and lock liquidity, while reserve minting allows the protocol to grow its treasury, and thus the backing per $MAG faster. The Magnet DAO currently offers minting via $MIM and $MAG-$MIM only, but we expect to add AVAX and other mint assets soon.