Parallel Assets: Value Reengineering Based on Oracle

source:https://github.com/Parasset/

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basic concept

basic conceptMortgage assets:

The assets used to generate parallel assets are generally native decentralized assets on the chain, such as ETH, NEST, and NHBTC.Underlying Assets:

Parallel assets against underlying assets, such as ETH, USDT, HBTC, etc.During the initial coinage, the user enters the mortgage assets to generate parallel assets, such as PUSD, where the ratio of the PUSD generated by a unit of mortgage assets to the price of the mortgage assets is the mortgage rate, and the mortgage rate is less than 1.

The following uses PUSD as an example to illustrate the rest of the concepts:

Mortgage rate:During the initial coinage, the user enters the mortgage assets to generate parallel assets, such as PUSD, where the ratio of the PUSD generated by a unit of mortgage assets to the price of the mortgage assets is the mortgage rate, and the mortgage rate is less than 1.

Clearing line:After the minting user puts the mortgage assets into the contract, a debt warehouse is generated to keep the mortgage assets. When the user redeems the mortgage assets of the debt warehouse, the debt warehouse will end, and the mortgage assets will be added or re-mortgaged in the middle, sharing the same debt warehouse .

Debt positions:After the minting user puts the mortgage assets into the contract, a debt warehouse is generated to keep the mortgage assets. When the user redeems the mortgage assets of the debt warehouse, the debt warehouse will end, and the mortgage assets will be added or re-mortgaged in the middle, sharing the same debt warehouse .

Insurance fund pool:Insurance fund pool:

The insurance fund pool is used to ensure that the exchange relationship between PUSD and USDT always maintains a 1:1 ratio during liquidation. The insurance fund pool can be transferred into PUSD or USDT.

2) Anyone at any time can use 1 USDT to enter the insurance fund pool to generate 1 PUSD, or return 1 PUSD to the pool to exchange for 1 USDT, provided that the leveling fund pool has USDT.

Oracle:That is, users who stake their assets to mint coins.

Stability fee:Based on the stability fee designed by the mortgage rate, each debt warehouse must pay the stability fee according to the difference between the liquidation line and the current price and the time period when increasing the mortgage, minting new coins, redeeming and liquidating.

Minter:That is, users who stake their assets to mint coins.

Insurer:1. Coinage

Operation process

1. Coinage

The minter puts the required mortgage assets into the contract, and generates stable coins according to the mortgage rate of his choice, such as PUSD or PETH. At the same time, the system will generate corresponding debt positions and liquidation lines.

2. Redemption

Before the debt warehouse is liquidated, at any time, the minter can return the corresponding amount of stable coins to retrieve the mortgage assets.

Before the debt warehouse is liquidated, at any time, the minter can return the corresponding amount of stable coins to retrieve the mortgage assets.

3. Liquidation

Users can add collateral at any time, add mortgage into the same debt position, and modify the liquidation line at the same time, the rule is the core algorithm one.

Users can add collateral at any time, add mortgage into the same debt position, and modify the liquidation line at the same time, the rule is the core algorithm one.

5. Inject insurance

Anyone can inject insurance funds into the insurance fund pool. The requirement is the corresponding underlying asset or parallel asset such as USDT or PUSD, or any asset (which will be traded into the underlying asset or parallel asset in CoFiX). After the injection, the share is calculated according to the net value .

6. Take back insurance

7. Mint again

7. Mint again

Users can mint coins again in the original debt warehouse, and at the same time correct the closing line, according to the core algorithm one.

Users can mint coins again in the original debt warehouse, and at the same time correct the closing line, according to the core algorithm one.

8. Fast minting and redemption

Users can inject 1 USDT into the insurance fund pool to get 1 PUSD, or inject 1 PUSD in exchange for 1 USDT (if any).

9. Stability Fee

The net insurance value is calculated according to the core algorithm 4.

The net insurance value is calculated according to the core algorithm 4.

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