Minting and Redeeming

Fantom

Minting

In order to mint 1 FTMX, the system requires 1 FTM and (1 - CR) will be converted to FXM/FTM LP.

For example - CR = 90% and you want to mint 100 FTMX 90 FTM will be deposited into FTM pool reserve and 10 FTM will be converted to FXM/FTM LP (Protocol Owned Liquidity=POL)

Redeeming

When 1 FTMX is redeemed, the system returns CR worth of FTM and (1 - CR) worth of FXM.

For example - CR = 95% If you want to redeem 100 FTMX -> 95% will be returned as FTM and 5% as FXM

2-step Minting / Redeeming mechanism

After both, Minting or Redeeming, you will have to additionally collect your minted or redeemed tokens. This mechanism was implemented to prevent flashloan.

Fee

There is a 0.5% fee for minting and 0.5% fee for redeeming, transferred to the Staking and Locking Distribution.

If you are using a Ledger to mint FTMX you will have to enable Display Contract Data (debug data) to be able to Mint

Avalanche

Minting

In order to mint 1 fAVAX, the system requires 1 AVAX and (1 - CR) will be converted to SNOWY/AVAXLP.

For example - CR = 90% and you want to mint 100 fAVAX 90 AVAX will be deposited into AVAX pool reserve and 10 AVAX will be converted to SNOWY/AVAXLP (Protocol Owned Liquidity=POL)

Redeeming

When 1 fAVAX is redeemed, the system returns CR worth of AVAX and (1 - CR) worth of SNOWY.

For example - CR = 95% If you want to redeem 100 fAVAX-> 95% will be returned as AVAX and 5% as SNOWY

2-step Minting / Redeeming mechanism

After both, Minting or Redeeming, you will have to additionally collect your minted or redeemed tokens. This mechanism was implemented to prevent flashloan.

Fee

There is a 0.4% fee for minting and 0.5% fee for redeeming, transferred to the Staking and Locking Distribution.