Protocol Variables And Definitions

Name

Definition

Notes & Examples

collateralmintercollateral_{minter}

The current value of t-bills in the Minter’s SPV (Special Purpose Vehicle).

Regularly verified by Validators: CVminter=EligibleCollateralCV_{minter} = Eligible Collateral

There are $10,000 of t-bills in the SPV.

TheCVminterCV_{minter} is $10,000.

lastUpdateminterlastUpdate_{minter}

The timestamp of last collateral update by Minter. The minimum of all Validators' timestamps provided to verify the validity of collateral update.

penalizedUntilminterpenalizedUntil_{minter}

The timestamp of the end of the last penalization interval

activeOwedMminteractiveOwedM_{minter}

The amount of M that a Minter owes and has to repay to the protocol including accrued interest and penalties at any moment in time

Penalties are charged due to

  • late collateral updates

  • undercollateralization

inactiveOwedMminterinactiveOwedM_{minter}

The amount of M that deactivated Minter owes to the protocol

maxAllowedActiveOwedMmintermaxAllowedActiveOwedM_{minter}

The maximum amount of M that is allowed to be owed to the protocol before it begins to accrue penalty charges.

maxAllowedActiveOwedMminter=MCRβˆ—(CVminterβˆ’totalPendingCollateralRetrievalsmintermaxAllowedActiveOwedM_{minter} = MCR * (CV_{minter} - totalPendingCollateralRetrievals_{minter}

Mint requests are not accepted if this condition is not fulfilled.

There is $10,000 of CVminterCV_{minter} and the MCR is 95%. The Minter may mint up to $M 9,500 without incurring penalty charges

totalActiveOwedMtotalActiveOwedM

The total amount of activeOwedMactiveOwedM for all Minters.

totalInactiveOwedMtotalInactiveOwedM

The total amount of inactiveOwedMinactiveOwedM for all Minters

pendingCollateralRetrievalminterpendingCollateralRetrieval_{minter}, IdId

Pending collateral retrievals for Minter with their ids and amounts.

totalPendingCollateralRetrievalsmintertotalPendingCollateralRetrievals_{minter}

The total amount of all retrieval requests for Minter

Last updated

Copyright 2024 M^0 Foundation