VNST Protocol Terms
Below are the system of terms used specifically for the VNST protocol:
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.
Last updated