What Is Credits (CS)?
Sell cryptocurrency. Exchange to Euro. Withdraw EUR and GBP to Visa and Master card worldwide. Withdraw to bank account via SEPA. From the 1st to 25th day of each month, ERC20 tokens will be blocked. It means that you will not be able to perform any operations with them during this period. From the 25th to the 30th day of each month ERC20 tokens will be unblocked to give an opportunity to swap the ERC20 tokens to CS coins. Credits send you your swapped coins on the 20th of the month. Please be sure to send your ERC-20 CS BEFORE the 20th of the month, otherwise, you’ll have to wait one month until you receive your swapped CS.
Select whether you would like to receive Credits or imBTC in your wallet or deposit directly to the Vault to earn MTA rewards. Depositing directly to the vault can save you gas fees compared to saving and depositing to the Vault in separate transactions. Note that on the Polygon App, you will need to deposit first and then stake tokens in the Vault through the Stake tab. To withdraw assets from the Save Vault, simply select the Redeem tab on the form and select whether you would like to redeem imUSD or imBTC from you wallet or from the Vault. You can then choose an amount to withdraw and redeem for mUSD or mBTC which will reflect your original deposit plus accrued interest.
Credits Storage Key Points
|Circulating Supply||223,456,423.00 CS|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Feeder Pools are liquidity pools composed of 50% mUSD or mBTC and 50% another asset that shares the same peg. Users can access this liquidity to trade to or from mUSD or mBTC with any supported feeder asset. Since these pools are separate from the pools of assets underlying Credits or mBTC, adding new Feeder Pools doesn’t impact the risk profile of the mStable assets. This allows any number of same-peg assets to be added to the protocol.Feeder Pools introduce a new invariant optimized for 2-asset stable coin AMMs that shows similar properties, but can be solved with a lower number of operations and are therefore more efficient.
Using Feeder Pools to Exchange Assets
When trading between mUSD or mBTC and feeder assets, the user interfaces in the Credits App the same as when minting or redeeming assets using the main mUSD or mBTC pools. Users can select the Swap page and select the asset pair that they wish to trade. Feeder Pools will be utilized in the background to facilitate these trades. Note that swaps into mUSD or mBTC through Feeder Pools do not incur a swap fee, making them the most efficient place to trade these assets.
Providing Liquidity to Feeder Pools
Users can provide liquidity to a Feeder Pool through the Pools page on the mStable App.To provide liquidity, you can deposit by selecting any asset that is supported by the Credits platform and receiving LP tokens in exchange. You can choose whether to receive the LP tokens to your wallet where they could be deployed elsewhere in DeFi to generate yield or to have the LP tokens deposited directly into the mStable “Vault”, where you can earn MTA rewards that vest over time. Rewards in the Vault can also be boosted by the Earning Power Multiplier through Staking MTA.
All LP token holders will receive swap fees generated by that specific pool in proportion to their share in the liquidity pool. Feeder pools on Credits have low impermanent loss risk since they contain only two similarly priced assets.An important difference between Feeder Pool LP tokens and mUSD or mBTC is that the LP tokens increase in value over time as fees accrue, rather than inflating in supply. This creates a new universe of composable yield tokens generated by mStable.
MTA Rewards from Feeder Pool Vaults
By depositing Feeder Pool LP tokens in the Vault, users can earn Credits rewards in addition to the yield generated through providing liquidity. The Vault is used to measure who is providing liquidity and distribute MTA through a smart contract. When providing liquidity through Feeder Pools, you will see a range of reward APYs. This is because rewards from providing liquidity can be boosted by staking MTA through the mStable Governance App. Some Feeder Pools Vaults support a second token, e.g. mUSD/RAI Feeder Pool Vault accrues additionally FLX if it is available in the Vault. The second reward is added by the partner and mStable does not control the number of tokens or if any secondary tokens are distributed.
The Swap feature brings together a number of key pieces of the mStable infrastructure in a simple user interface. The resulting user experience is seamless swapping between any support pegged-value assets, including mUSD, mBTC, the underlying basket assets, and all Feeder Pool assets. Behind the scenes, the tool combines functions of minting and redeeming assets, swapping assets using the underlying liquidity pool, and the numerous Feeder Pools to allow a simple swap between any supported same-peg asset pair.
To swap between assets, simply navigate to the Swap tab on the Credits app. Select which category of pegged-value assets you would like to swap between (USD or BTC) and then select the assets that you which to exchange and the amount that you would like to trade. The fees charged for any given swap will depend on the assets being exchanged due to the different mStable functionality that is used the facilitate trades.