Mint your PD (1 , 1)
The Mint page allow users to mint Pals from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity minting and the latter reserve minting.
The minting action create bonds which take roughly 15 epochs to vest, and Pal tokens are vested linearly to the user over that period. Liquidity minting help the protocol to accumulate and lock liquidity, while reserve minting allow the protocol to grow its treasury, and thus its Backing per Pals faster.
Paladin DAO offers currently different types of assets that can be used to mint Pal on its website:
- PD-BUSD LP
Settings is a feature that allows you to mint PD while sending the acquired PD to another address. This is useful for additional privacy, or for minting multiple PD 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 PD, the 5 days timer is resetted for all the rewards, and the vesting period will start again.
- 1.Go to the Mint page and select the assets you want to use to mint PDs.
- 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 PD. 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. Voila, you have minted your first PD tokens using the Settings!
Notes:
- 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.
Go to the Mint page and select the bond type you have purchased. Select the "Redeem" tab.
Use the Claim to claim all of your available rewards, and have the pending PD sent to your wallet.
Use the Claim and Autostake button to have all the available PD sent automatically to the staking contract and receive the PDs as a receipt for your stake!
- PD Price is the price of PD you get from minting. You can calculate the mint price using the following formulae: - LP Mint: (Value of your LP token / PD you'll get from minting) - BUSD Mint: (Value of your BUSD token / PD you'll get from minting)
- PD Price is the market price of PD.
- Your Balance is your balance of LP tokens or asset used to mint.
- You Will Get tells you how many PD tokens you will get from minting.
- Max You can Buy maximum amount of PD available to be bought.
- Debt Ratio measures the total amount of PD created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and BUSD mints: - LP Mint: (PD created from unredeemed mints / PD total supply) - BUSD Mint: (PD created from unredeemed mints / PD 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 PD that can be minted
- Time Until fully vested is the time until the PD minted will be fully redeemable
- Pending Rewards is the amount of PD you are entitled to receive from minting.
- Claimable Rewards is the amount of PD that you can claim now. This amount keeps increasing as PD 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.