Opening a TBY deposit

Issuing TBY by opening a deposit at a predetermined proportion of DE to TBY according to the scheme: Deposit open

The storage cost is defined as:

P = D/T, where P is the storage cost of the next addition of DE to the contract

  • the number of DE put into the smart contract - D
  • number of issued TBY by the smart contract - T

The process of issuing TBY is the following:

  1. When a contract is deployed, the first TBY is issued to correct the initial proportion of DE per TBY defined by the address deploying the smart contract.
  2. The ecosystem member transfers a certain amount of DE into a smart contract to issue TBY at the offered proportion.
  3. 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.
  4. 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 DE to TBY.
  5. The smart contract determines the proportion for the next deposit opening TBY and closing TBY_Mined 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.