DeNet Docs


Opening a TBY deposit
Issuing TBY by opening a deposit at a predetermined proportion of DAI to TBY according to the scheme:
The storage cost is defined as:
  • the number of DAI put into the smart contract - D
  • number of issued TBY by the smart contract - T
P = D/T, where P is the storage cost of the next addition of DAI to the contract
The process of issuing TBY is the following:
0. When a contract is deployed, the first TBY is issued to correct the initial proportion of DAI per TBY defined by the address deploying the smart contract.
  1. 1.
    An ecosystem member transfers a certain amount of DAI into a smart contract to issue TBY at the offered proportion.
  2. 2.
    The smart contract issues the required amount of TBY and sends it to the user's address with the exception of the Pay-in Fee regulated by the Consensus members.
  3. 3.
    Pay-in Fee includes the Mint Percent sent to the fee collector and is determined by Consensus participants through on-chain. This parameter is responsible for keeping TBY in the smart contract and affects the future proportion of DAI to TBY.
  4. 4.
    The smart contract determines the proportion for the next deposit opening/closing operation
Each TBY issue transaction always increases the storage cost due to a decrease in the proportion by burning off a part of the commission.