🪙Tokenomics

USDC is Minoan's base utility token, used for staking lending and trading. As our Ariadne tokens act as governance and proof of ownership tokens for our pools.

Token Information

The test USDC token address is 0xC160e2865cA738fFe966dA5A929b0108c16a9F11 (Goerli).

The tokens of Ariadne and Theseus 0x9f0665B77E7d11845341E3A9a2C99E684368e (Goerli).

Steps to get our test USDC can be found on Get Test USDC. After receiving USDC you can stake in any one of our pools to get Ariadne tokens.

Staking

There are 2 types of staking tokens

• Ariadne Tokens

• Theseus Tokens

Once a user has our test USDC they can stake in any one of our loan pools representing an asset. Or stake directly in Theseus DAO.

For information on how to stake please see our Stake USDC in Pool.

Trading fees and interest payments from active trades paid in USDC go to the asset pools and a portion depending on a pools standing in terms of debt, go to Theseus. As a staker's Ariadne tokens represent proportional ownership in the pool the USDC can be claimed by withdrawing your stake.

If tokens are withdrawn from the pool those tokens are burned so as to reflect an accurate token to total supply ownership representation ratio.

At anytime the pool goes into debt to Theseus withdraws may be frozen to protect the protocol and the pool. Withdraws are limited if said proportion exceeds current USDC available in the pool aka to much USDC is loaned out. In that case a withdraw will fail.

Staking also gives users the ability to control aspects of their respective pools for Ariadne token holders, and for Theseus token holders, control over the DAO.

Insurance Fund

Besides the Theseus DAO acting as arbiters over the protocol, their stakes directly go into the insurance fund. Their is a limit on how much must be in the insurance fund which can freeze withdraws if drops below amount. To learn more on how to change the insurance fund minimum check out Propose. If at anytime a pool's available balance is not enough to pay a traders winning's, the pool goes into debt and is given the required amount of USDC from the insurance fund. Until the amount is paid back Theseus will take all the trading fees and interest payments.

Formulas

How much to mint upon stake

proportionAmt = (usdcStaking * 10^6) / poolTotalUSDCSupply

mint amount = totalTokenSupply * propotionAmt / 10^6

  uint _denominator = _poolTotalUsdcSupply>0?_poolTotalUsdcSupply:1;
  uint _porportion = (_amount * 1e6) / _denominator;
  (bool _check,uint  _mintAmount) =PoolTokens(poolToken).stakeMint(msg.sender,ammPoolToTokenId[_ammPool],_porportion);

  function stakeMint(address account, uint256 id, uint256 proportionAmt) public onlyStaking returns(bool,uint){
        uint _totalSupplyTok = totalSupplyTok[id]>0?totalSupplyTok[id]:1;
        uint _mintAmount = _totalSupplyTok * proportionAmt/10**6;
        _mint(account, id, _mintAmount, '');
        totalSupplyTok[id] += _mintAmount;
        return (true,_mintAmount);
    }

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How much to Burn upon unstake

propotionAmt = tokensToBurn * 10^6 / tokenSupply

burnAmount = poolTotalUSDCSupply * proportionAmount / 10^6

 uint _tokenSupply = poolTokCon.totalSupplyTok(ammPoolToTokenId[_ammPool] );
 uint _porportion = (_amountToBurn * 1e6) / _tokenSupply;
 uint _amount = (_poolTotalUsdcSupply * _porportion) / 1e6;
 poolTokCon.burn(msg.sender, ammPoolToTokenId[_ammPool], _amountToBurn)
 

 function burn(address account, uint256 id, uint256 amount) public onlyStaking returns(bool){
        _burn(account, id, amount);
        totalSupplyTok[id] -= amount;
        emit Burn(account, id, amount);
        return true;
    }

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