Mint your FAO (1, 1)
The Mint page allows users to buy FAO 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 FAO 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 FAO faster.
DAO Finance offers currently different types of assets that can be used to mint FAO on its website:
DAI
DAI-FAO LP
Settings
Settings is a feature that allows you to mint FAO while sending the acquired FAO to another address. This is useful for additional privacy, or for minting multiple FAO 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.
Go to the Mint page and select the mint type you want to purchase.
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 FAO. 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 cogwheel icon again.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Voila, you have purchased your first mint using Settings!
Notes:
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 mint type you have purchased. Select the "Redeem" tab.
Use the Claim to claim all of your available rewards, and have the pending FAO sent to your wallet.
Use the Claim and Autostake button to have all the available FAO sent automatically to the staking contract and receive the sFAO as a receipt for your stake!
Reading the Info
Mint Page:
FAO Price is the price of FAO you get from minting. You can calculate the mint price using the following formulae: - LP Mint: (Value of your LP token / FAO you'll get from minting) - DAI Mint: (Value of your DAI token / FAO you'll get from minting)
FAO Price is the market price of FAO.
Your Balance is your balance of LP tokens or asset used to mint.
You Will Get tells you how many FAO tokens you will get from minting.
Max You can Buy maximum amount of FAO available to be bought.
Debt Ratio measures the total amount of FAO 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: (FAO created from unredeemed mints / FAO total supply) - DAI Mint: (FAO created from unredeemed mints / FAO 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 FAO that can be minted
Redeem Page.
Time Until fully vested time until the FAO minted will be fully redeemable
Pending Rewards is the amount of FAO you are entitled to receive from minting.
Claimable Rewards is the amount of FAO that you can claim now. This amount keeps increasing as FAO 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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