Mint Your KRNO (1,1)
1,1 minting is the process of buying regular 1,1 Bonds:
Users can swap selected tokens (usually stable coins like KDAI and KSD) or LP pairs (KRNO-KDAI or KRNO-KSD) directly with the Protocol in exchange for discounted KRNO tokens. This allows the Protocol to build reserves of stablecoins which help grow the project and allow us to offer attractive APYs.
In return, minters will receive a linearly vested supply of discounted KRNO tokens which can be redeemed and staked or traded.
Remember: mint(1,1) rewards are vested for 5 days from the point of purchase. Vesting periods are linear, meaning that you can claim ~20% per day at any time.
NOTE: Make sure you're purchasing the right type of mint! All mints are labelled 1,1 or 4,4.
Settings is a feature that allows you to mint KRNO while sending the acquired KRNO to another address. This is useful for additional privacy, or for minting multiple KRNO while the current mints are still vesting. Note that if the same account holds multiple mints, the pending rewards from the earlier mints have to be forfeited.
Note: What this means in practice, is that if a user has vested rewards from a previous minting action purchase, and he then mints another KRNO, the 5 days timer is resetted for all the rewards, and the vesting period will start again.
- 2.Select the amount that you would like to mint, then click on the cogwheel icon at the top right of the page.
- 3.The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested KRNO. By default, it is filled with your current address.
- 4.You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
- 5.Close the Settings menu by clicking the cross icon.
- 6.Click "Approve" and sign the transaction.
- 7.After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Finally, you have minted your first KRNO tokens using the Settings!
- The "Approve" transaction is only needed when minting for the first time; subsequent minting only requires you to perform the "mint" transaction.
- When using Settings, do not alter the mint amount after you have closed the Settings menu, as it will reset the recipient address.
- MINT Price is the price of KRNO you get from minting. You can calculate the mint price using the following formulae:-LP Mint: (Value of your LP token / KRNO you'll get from minting)-KDAI Mint: (Value of your KDAI token / KRNO you'll get from minting)
- KRNO Price is the market price of KRNO.
- Your Balance is your balance of LP tokens or asset used to mint.
- You Will Get tells you how many KRNO tokens you will get from minting.
- Max You can Buy maximum amount of KRNO available to be bought.
- Debt Ratio measures the total amount of KRNO created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and KDAI mints:
- LP Mint: (KRNO created from unredeemed mints / KRNO total supply)
- KDAI Mint: (KRNO created from unredeemed mints / KRNO circulating supply)
- Vesting Term measures the period a minting action takes to fully redeem. This number is expressed in days.
- Minimum Purchase: Minimum amount of KRNO that can be minted
- KRNO Until fully vested time until the KRNO minted will be fully redeemable
- Pending Rewards is the amount of KRNO you are entitled to receive from minting.
- Claimable Rewards is the amount of KRNO that you can claim now. This amount keeps increasing as KRNO is vested to you over the vesting period.
- ROI is the Return On Investment
- Vesting Term measures the period a Minting action takes to fully redeem. This number is expressed in days.
Yes, but your vesting period will reset to 5 days after the most recent purchase.
For example, if you mint worth 10 KRNO, and then exactly 3 days later, buy another bond of the same underlying asset worth 10 KRNO, your vesting period will become 5 days and your reward will become 14 KRNO:
- 6 KRNO has already been vested to you from the original bond, leaving 4
- You are adding another 10 KRNO to your vesting reward to bring the total to 14
- Mint's vesting period to 5 days