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Minting and Redeeming
To mint 1 $WBNBX the protocol will require 1 $WBNB token and (100% - CR) of the deposited asset will be converted into the MNTI/WBNB LP.
e.g. CR = 95% and user wants to mint 10 $WBNBX
- 9.5 $WBNB will be deposited into $WBNB pool reserve
- 0.5 $WBNB will be converted into the MNTI/WBNB LP
When redeeming 1 $WBNBX the protocol will return (CR worth of) $WBNB and (and 100%-CR worth of) $MNTI.
e.g. CR = 95% and user wants to redeem 10 $WBNBX
- 95% will be returned as $WBNB
- 5% will be returned as $MNTI
In order to prevent possible flashloan exploits, after minting or redeeming the user will have to take one more step and claim the tokens.
Minting and redeeming incur a 0.5% and 1% fee respectively which are distributed to the locked stakers.
Last modified 12d ago