VNST
English
English
  • Table of contents
    • VNST Whitepaper
    • 📚Terms & Definitions
      • Common Terms
      • VNST Protocol Terms
    • 💎Overview
    • 💬Introduction
      • What Is VNST?
      • Why Was VNST Established?
      • Token Infomation
      • Roadmap
    • 🪙Core Concepts
      • VNST Protocol
      • Exchange Rate Determination
      • Mint & Redeem
      • Covered Amount
    • 💰BoS - Basket of Stablecoin
      • Stablecoin Evaluation Framework
    • 📈Applications Of VNST
    • 🤝Merchant Of VNST
      • Merchants
      • Responsibility & Benefits
    • 🏦Issuer
      • Organization
    • 🔰Advantages and Disadvantages
    • ℹ️Tutorial
      • How to install the wallet extension?
      • How to Mint & Redeem
    • ⁉️FAQs
      • Basic Information
      • Common Errors
    • 👥Community
    • 📖Legal Terms
    • Page
Powered by GitBook
On this page
  1. Table of contents
  2. Terms & Definitions

VNST Protocol Terms

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

Terms
Definitions

Input Amount

  • The amount of VNST (or BoS) entered by the user to perform a Mint (or Redeem) transaction as calculated by the system.

BoS

Abbreviation for the term "Basket of Stablecoin". This refers to a collection of approved and accepted stablecoins used for converting VNST.

Output Amount

  • The anticipated amount of VNST (or BoS) that the user can receive when executing a transaction as calculated by the system.

Max Input Amount

  • The maximum amount of VNST (or BoS) a user can Mint or Redeem

Min Input Amount

  • The minimum amount of VNST (or BoS) a user can Mint or Redeem.

Redeem Covered Amount

  • The maximum amount of BoS that users are supported with when the VNST/BoS price experiences volatility beyond the supported price buffer zone, optimizing the received amount for users.

Mint Covered Amount

  • The maximum amount of VNST that users are supported with when the VNST/BoS price experiences volatility beyond the supported price buffer zone, optimizing the received amount for users.

Market Price

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

Redeem Covered price

  • The supported price zone when Redeeming VNST, aimed at minimizing the impact of VMM exchange rate increasing more than Y% from the market rate.

  • The value of Y% will be adjusted by VNST based on actual market conditions.

Mint Covered price

  • The supported price zone when Minting VNST, aimed at minimizing the impact of VMM exchange rate dropping more than X% from the market rate.

  • The value of X% will be adjusted by VNST based on actual market conditions.

Estimated Price

  • The estimated exchange rate for users when entering input amount, calculated by the system.

Last Price

  • Last price is the actual rate for the user when a transaction is completed successfully.

Redeem fee

  • The fee incurred when redeeming VNST to BoS. This transaction fee is automatically transferred to the Revenue Pool.

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.

Operational Pool

  • The input is the transaction fee from Redeem.

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

Merchant Pool

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

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

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.

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.

Last updated 1 year ago

📚