VNST Protocol Terms

Below are the system of terms used specifically for the VNST protocol:

Terms
Definitions

BoT

Abbreviation for the term Basket of Tokens. This is a set of digital asset that have been approved and accepted for use in converting VNST.

Mint VNST

It is a conversion transaction where users deposit BoT or USDT into the VNST protocol and receive VNST, or Mint for short.

Mint/Redeem fee: 0.1% of transaction volume

Swap fee: 0.05% of transaction volume

Redeem VNST

It is a conversion transaction where users deposit VNST into the VNST protocol and receive USDT in return, also known as Redeem.

The amount of VNST is burned after the conversion request is successful.

Transaction fee: 0.1% of the transaction volume.

Input Amount

  • The amount of BoT or USDT users deposit into the VNST protocol when performing Mint (or Redeem).

Output Amount

  • The amount of USDT or VNST a user expects to receive back from the VNST protocol after completing Mint (or Redeem).

Max Input Amount

  • The maximum BoT, USDT or VNST Volume per transaction a user can deposit into the VNST protocol when Mint (or Redeem).

Min Input Amount

  • The minimum BoT, USDT or VNST Volume per transaction a user can deposit into the VNST protocol when Mint (or Redeem).

Redeem/Mint Covered Amount

  • Maximum VNST volume supported by users when VNST/USDT fluctuates beyond the price support buffer zone helps users optimize the volume received.

Mint Covered Price

  • Price zone is supported when Mint VNST to minimize the impact due to exchange rate on VMM decreasing by more than X% compared to market exchange rate.

  • X% will be adjusted by VNST according to actual market conditions.

Redeem Covered Price

  • Price zone is supported when Redeem VNST to minimize the impact due to exchange rate on VMM increasing over the margin Y% compared to market exchange rate.

  • Y%: will be adjusted by VNST according to actual market conditions.

Operational Pool

  • The input is the transaction fee from Redeem.

  • The output is used to develop and manage risk for VNST

Market Price

  • Determined based on the exchange rate pair between the local currency and BoS on popular exchanges with high liquidity

Estimated Price

  • The estimated price is calculated by VMM when the user enters VNST Deposit Volume (or BoT).

Last Price

  • Actual price upon completion of Mint (or Redeem).

Slippage

  • This phenomenon occurs frequently when trading with AMM mechanism.

  • The actual received amount after completing Mint (or Redeem) is often higher or lower than the expected received amount.

Redeem Fee

  • Transaction fee is applied when user completes Redeem

Mint Fee

Transaction fees are applied when users complete Mint

Gas fee

  • The transaction fee that users need to pay when conducting On-chain transactions. This is a crucial part to maintain the operation of the Blockchain network.

  • The specific amount depends on the transaction status of the network at the time of occurrence. The VNST protocol does not affect this value.

Merchant Pool

  • The input receives profit-sharing from trade partners, abbreviated as "Merchants."

  • The output is used to organize promotional campaigns for Merchant activities

Price risk limitation

  • It's the comparison level between the last price on the VNST protocol and the market price of for updating to minimize discrepancies.

  • The current value is +/- 25 prices.

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