Mint your MAIA
Minting is the secondary value accrual strategy of Maia. When users mint MAIA tokens, they are actually selling their assets in order to buy a bond from the protocol. Minting Actions are a cross between a fixed income product, a futures contract, and an option. The protocol quotes the minter with terms for a trade at a future date. These terms include a predefined amount of MAIA the minter will mint and the time when vesting is complete. The bond becomes redeemable as it vests. I.e. in a 5-day term, after 2 days into the term 40%, after 3 days 60%,...) 100% of the rewards can be claimed at the end of that 5 day period.
Minting is an active, short-term strategy. The price discovery mechanism of the secondary bond market renders mints discounts more or less unpredictable. Therefore minting is considered a more active investment strategy that has to be monitored constantly in order to be more profitable as compared to staking.
Allowing users to purchases bonds through Minting allows MAIA to accumulate its own liquidity. We call our own liquidity POL. More POL ensures there is always locked exit liquidity in our trading pools to facilitate market operations and protect token holders. Since Maia becomes its own market, on top of additional certainty for MAIA investors, the protocol accrues more and more revenue from LP rewards bolstering our treasury.
Here at Maia we believe that minting better describes the action that users are taking, when purchasing MAIA with different assets. If you go to the "Mint" page of the website, you will be able to mint MAIA tokens, effectively selling your assets for discounted MAIA tokens. Despite the name difference, a Minting Action is exactly the same as a Bond Purchase on Olympus DAO! You can find the mintings options for Maia in the Mint Page!
The Mint page allow users to mint MAIA 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 MAIA 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 MAIA faster.
The "Closed Bonds" are bonds that can no longer mint but pending MAIA can still be redeemed!
Settings is a feature that allows you to mint MAIA while sending the acquired MAIA to another address. This is useful for additional privacy, or for minting multiple MAIA 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 MAIA, the 5 days timer is resetted for all the rewards, and the vesting period will start again.
- 2.Select the amount that you would like to mint, then click on the cogwheel icon at the top right of the page.
- 3.The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested MAIA. By default, it is filled with your current address.
- 4.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.
- 5.Close the Settings menu by clicking the cross icon.
- 6.Click "Approve" and sign the transaction.
- 7.After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Voila, you have minted your first MAIA 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.
Use the Claim to claim all of your available rewards, and have the pending MAIA sent to your wallet.
Use the Claim and Autostake button to have all the available MAIA sent automatically to the staking contract and receive the sMAIA as a receipt for your stake!
- MINT Price is the price of MAIA you get from minting. You can calculate the mint price using the following formulae: - LP Mint: (Value of your LP token / MAIA you'll get from minting) - m.USDC Mint: (Value of your m.USDC token / MAIA you'll get from minting)
- MAIA Price is the market price of MAIA.
- Your Balance is your balance of LP tokens or asset used to mint.
- You Will Get tells you how many MAIA tokens you will get from minting.
- Max You can Buy maximum amount of MAIA available to be bought.
- Debt Ratio measures the total amount of MAIA created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and m.USDC mints: - LP Mint: (MAIA created from unredeemed mints / MAIA total supply) - m.USDC Mint: (MAIA created from unredeemed mints / MAIA 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 MAIA that can be minted
- Time until fully vested time until the MAIA minted will be fully redeemable
- Pending Rewards is the amount of MAIA you are entitled to receive from minting.
- Claimable Rewards is the amount of MAIA that you can claim now. This amount keeps increasing as MAIA 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.