Velo-Protocol
Searchβ¦
Welcome to Velo-Protocol
π
GETTING STARTED
Prerequisite
Architecture
π
BASE CONCEPTS
DRS Mechanism
Setup stable credit
Mint stable credit
Redeem stable credit
Rebalancing the Reserve and Collateral Pool
π
USING CLI
Using CLI
Setup table credit
Mint stable credit
Redeeming stable credit
Rebalancing the Reserve and Collateral Pool
π
USING SDK
Using SDK
Setup stable credit
Mint stable credit
Redeeming stable credit
Rebalancing the Reserve and Collateral Pool
Powered By
GitBook
Redeem stable credit
Anyone who owns digital credit issued by a Velo associated TP can redeem their digital credit for VELO.Two pieces of information are needed to redeem:
1.
Asset code (digital credit name)
2.
Amount to be exchanged
Upon redemption, the amount of VELO that can be exchanged will be calculated based on:
1.
The amount of digital credit.
2.
The current exchange rate between the pegged currency of the fiat credit,VELO and pegged value.
3.
The collateral ratio of the collateral backing the digital credit.
The formula used for calculation is similar to the one we use for mint, but there is no fee involved (i.e. fee = 0):
Workflow
BASE CONCEPTS - Previous
Mint stable credit
Next - BASE CONCEPTS
Rebalancing the Reserve and Collateral Pool
Last modified
1yr ago
Copy link
Contents
Anyone who owns digital credit issued by a Velo associated TP can redeem their digital credit for VELO.Two pieces of information are needed to redeem:
Upon redemption, the amount of VELO that can be exchanged will be calculated based on:
Workflow