burnM

$burnM(minter,maxPrincipalAmount,maxAmount)$

• Callable by anyone wishing to burn M on behalf of $minter$

• Decreases $owedM_{minter}$ by $amount$. M is subtracted from the caller of this function

• If $minter$ is active

  • Calculates current $activeOwedM_{minter}$ and Imposes $missedCollateralUpdatePenalty_{minter}$ for every missed and not yet penalized update collateral interval. Updates $penalizedUntilTimestamp_{minter}$ if a penalty was imposed

  • Reduces $activeOwedM_{minter}$ by $activeBurnAmount$ $activeBurnAmount = min(activeOwedM_{minter}, amount)$ $totalActiveOwedM -= activeBurnAmount$

    $activeOwedM_{minter} -= activeBurnAmount$

• If $minter$ is inactive and was deactivated

  • Reduces $inactiveOwedM_{minter}$ by $inactiveBurnAmount$ $inactiveBurnAmount = min(inactiveOwedM_{minter}, amount)$ $totalInactiveOwedM -= inactiveBurnAmount$

    $inactiveOwedM_{minter} -= inactiveBurnAmount$

  • Burns $activeBurnAmount$ or $inactiveBurnAmount$ of M from the caller of the function, e.g., $msg.sender$

  • Calls $updateIndex$.