Mint your SNAKE (🧞‍♂️, 🧞‍♂️)

The Mint page allow users to mint SNAKE from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity minting and the latter reserve minting.

The minting action create bonds which take roughly 15 epochs to vest, and SNAKE tokens are vested linearly to the user over that period. Liquidity minting help the protocol to accumulate and lock liquidity, while reserve minting allow the protocol to grow its treasury, and thus its Backing per SNAKE faster.

Uroboros.Finance offers currently different types of assets that can be used to mint SNAKE on its website:

BUSD
BNB
SNAKE-BUSD LP
(SNAKE-BNB LP)

Settings

Settings is a feature that allows you to mint SNAKE while sending the acquired SNAKE to another address. This is useful for additional privacy, or for minting multiple SNAKE while the current mints are still vesting. Note that if the same account holds multiple mints, the pending rewards from the earlier mints have to be forfeited. Note: What this means in practice, is that if a user has vested rewards from a previous minting action purchase, and he then mints another SNAKE, the 5 days timer is reset for all the rewards, and the vesting period will start again.

Go to Mint page and select the assets you want to use to mint SNAKE.
Select the amount that you would like to mint, then click on the cogwheel icon at the top right of the page.
The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested SNAKE. By default, it is filled with your current address.
You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
Close the Settings menu by clicking the cross icon.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Voila, you have minted your first SNAKE tokens using the Settings!

The "Approve" transaction is only needed when minting for the first time; subsequent minting only requires you to perform the "mint" transaction.
When using Settings, do not alter the mint amount after you have closed the Settings menu, as it will reset the recipient address.

How to Redeem

Go to the Mint page and select the bond type you have purchased. Select the "Redeem" tab.

Use the Claim to claim all of your available rewards, and have the pending SNAKE sent to your wallet.

Use the Claim and Autostake button to have all the available SNAKE sent automatically to the staking contract and receive the sSNAKE as a receipt for your stake!

Reading the Info

Mint Page:

MINT Price is the price of SNAKE you get from minting. You can calculate the mint price using the following formula:
- LP Mint: (Value of your LP token / SNAKE you'll get from minting)
- DAI Mint: (Value of your DAI token / SNAKE you'll get from minting)
SNAKE Price is the market price of SNAKE.
Your Balance is your balance of LP tokens or asset used to mint.
You Will Get tells you how many SNAKE tokens you will get from minting.
Max You can Buy maximum amount of SNAKE available to be bought.
Debt Ratio measures the total amount of SNAKE created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and DAI mints:
- LP Mint: (SNAKE created from unredeemed mints / SNAKE total supply)
- DAI Mint: (SNAKE created from unredeemed mints / SNAKE circulating supply)
Vesting Term measures the period a minting action takes to fully redeem. This number is expressed in days.
Minimum Purchase: Minimum amount of SNAKE that can be minted.

Redeem Page:

Time Until fully vested time until the SNAKE minted will be fully redeemable.
Pending Rewards is the amount of SNAKE you are entitled to receive from minting.
Claimable Rewards is the amount of SNAKE that you can claim now. This amount keeps increasing as SNAKE is vested to you over the vesting period.
ROI is the Return On Investment
Vesting Term measures the period a Minting action takes to fully redeem. This number is expressed in days.

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Last updated 3 years ago

Settings

Go to Mint page and select the assets you want to use to mint SNAKE.

Select the amount that you would like to mint, then click on the cogwheel icon at the top right of the page.

The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested SNAKE. By default, it is filled with your current address.

You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.

Close the Settings menu by clicking the cross icon.

Click "Approve" and sign the transaction.

After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Voila, you have minted your first SNAKE tokens using the Settings!

The "Approve" transaction is only needed when minting for the first time; subsequent minting only requires you to perform the "mint" transaction.

When using Settings, do not alter the mint amount after you have closed the Settings menu, as it will reset the recipient address.

How to Redeem

Go to the Mint page and select the bond type you have purchased. Select the "Redeem" tab.

Use the Claim to claim all of your available rewards, and have the pending SNAKE sent to your wallet.

Use the Claim and Autostake button to have all the available SNAKE sent automatically to the staking contract and receive the sSNAKE as a receipt for your stake!

Reading the Info

Mint Page:

MINT Price is the price of SNAKE you get from minting. You can calculate the mint price using the following formula:

- LP Mint: (Value of your LP token / SNAKE you'll get from minting)

- DAI Mint: (Value of your DAI token / SNAKE you'll get from minting)

SNAKE Price is the market price of SNAKE.

Your Balance is your balance of LP tokens or asset used to mint.

You Will Get tells you how many SNAKE tokens you will get from minting.

Max You can Buy maximum amount of SNAKE available to be bought.

Debt Ratio measures the total amount of SNAKE created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and DAI mints:

- LP Mint: (SNAKE created from unredeemed mints / SNAKE total supply)

- DAI Mint: (SNAKE created from unredeemed mints / SNAKE circulating supply)

Vesting Term measures the period a minting action takes to fully redeem. This number is expressed in days.

Minimum Purchase: Minimum amount of SNAKE that can be minted.

Redeem Page:

Time Until fully vested time until the SNAKE minted will be fully redeemable.

Pending Rewards is the amount of SNAKE you are entitled to receive from minting.

Claimable Rewards is the amount of SNAKE that you can claim now. This amount keeps increasing as SNAKE is vested to you over the vesting period.

ROI is the Return On Investment

Vesting Term measures the period a Minting action takes to fully redeem. This number is expressed in days.